[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] The year-long trading range we have seen on Wall Street continued as the benchmark S&P 500 pulled back last week after flirting with resistance (the top of its year-long range). There is a very high probability that the major averages are forming a large topping pattern after a strong…
[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] The major indices continue acting well as they are simply pausing to digest their very strong 2.5-week rally from the 7/7 near-term low. Ideally, we would like to see the S&P 500 form a little “handle” here before jumping out of its 7-month trading range. The Nasdaq Comp &…
[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] The market remains very strong as the major indices are simply pulling back to digest a very strong 2-week rally. The Nasdaq Comp & Nasdaq 100 continue to outperform helped by very strong action in big cap tech stocks ($NFLX, $GOOGL, $REGN, $AAPL, $FB, $CELG, just to name a…
[su_spoiler title=”Monday-Wednesday’s Action: Stocks Rally On Greek Deal” style=”fancy”] Stocks soared on Monday after lengthy negotiations between Greek officials and euro zone creditors produced a framework for the third bailout package for the tiny nation-state in the past few years. The latest agreement includes EUR 25 billion in bank recapitalization funds to help keep…