Please Note: After Nearly 10 Years of writing our daily stock market commentary, due to time constraints, this will become a weekly note- Starting May 1, 2012. We would like to thank you for your continued support and patronage!
SP 500 Back In A Confirmed Uptrend
Thursday, April 26, 2012 Stock Market Commentary:
Stocks and a slew of other “risk assets” rallied on Thursday as investors shrugged at the latest round of mixed to weaker than expected economic and earnings data. As earnings and economic data continues to be released in droves, it is paramount that we not only pay attention to the actual numbers but how the stocks (and major averages) react to the numbers. This allows us to see how the market participants are “voting” and helps us filter out the noise and focus on what matters most: price action. We find it encouraging to see all the major averages jump back above their respective 50 DMA lines in the wake of Apple’s blow-out quarter.
Jobless Claims Are Still High:
Stocks and a slew of risk assets rallied on Thursday as they digested Wednesday’s strong move and the latest round of mixed to weaker-than-expected economic and earnings data. Before Thursday’s open, the Labor Department said weekly jobless claims slid by 1,000 to a seasonally adjusted 388,000. However, the closely watched four-week moving average rose by 6,250 to 381,750 which was the highest reading since January and topped the Street’s estimate for 375,000. Separately, pending home sales rose +4.1% to 101.4 which topped the Street’s estimate for 96. A slew of earnings were released and were mixed to slightly lower.
Host Of The #SmartMoneyCircle Podcast, Founder and CEO of 50 Park Investments. Adam provides weekly market updates to ChartYourTrade.com readers. He is a FORBES Contributor and is a frequent guest on all the major financial media outlets.
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Disclaimer: All communication from ChartYourTrade is general in nature and for educational and general informational purposes only. Under no circumstance should it be considered personalized investment advice. All our work is general in nature and not specific to any one person. All the information on this site and/or that originates from us, or any of our partners or affiliates, is for educational and informational purposes only and is NOT a recommendation to buy or sell anything. To avoid any conflicts of interest, we do not have a working relationship with any of the companies mentioned in our work. Furthermore, we may have a long, short, or no position in any, or all, of the names that appear in our work and they may change at any time without notice. Investing and trading in capital markets or using margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. Before you decide to invest or trade in capital markets you should carefully consider your investment objectives, level of experience, and risk appetite, among other factors. The possibility exists that you could sustain a loss of some, all, or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with capital markets, investing/trading, and seek specific investment advice from an independent financial advisor and other professionals. Remember all the information we provide is for educational and general informational purposes only and is subject to change without notice.
Stocks Rally Ahead of GDP Data
Please Note: After Nearly 10 Years of writing our daily stock market commentary, due to time constraints, this will become a weekly note-
Starting May 1, 2012.
We would like to thank you for your continued support and patronage!
Thursday, April 26, 2012
Stock Market Commentary:
Stocks and a slew of other “risk assets” rallied on Thursday as investors shrugged at the latest round of mixed to weaker than expected economic and earnings data. As earnings and economic data continues to be released in droves, it is paramount that we not only pay attention to the actual numbers but how the stocks (and major averages) react to the numbers. This allows us to see how the market participants are “voting” and helps us filter out the noise and focus on what matters most: price action. We find it encouraging to see all the major averages jump back above their respective 50 DMA lines in the wake of Apple’s blow-out quarter.
Jobless Claims Are Still High:
Stocks and a slew of risk assets rallied on Thursday as they digested Wednesday’s strong move and the latest round of mixed to weaker-than-expected economic and earnings data. Before Thursday’s open, the Labor Department said weekly jobless claims slid by 1,000 to a seasonally adjusted 388,000. However, the closely watched four-week moving average rose by 6,250 to 381,750 which was the highest reading since January and topped the Street’s estimate for 375,000. Separately, pending home sales rose +4.1% to 101.4 which topped the Street’s estimate for 96. A slew of earnings were released and were mixed to slightly lower.
Market Outlook- Confirmed Uptrend
From our point of view, the market back in a confirmed uptrend as the bulls appear to have regained control of this market. The major averages are back above their respective 50 DMA lines and short term downward trendlines (shown above) which is very healthy. As always, keep your losses small and never argue with the tape. If you are looking for specific help navigating this market, feel free to contact us for more information. That’s what we are here for!
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Disclaimer: All communication from ChartYourTrade is general in nature and for educational and general informational purposes only. Under no circumstance should it be considered personalized investment advice. All our work is general in nature and not specific to any one person. All the information on this site and/or that originates from us, or any of our partners or affiliates, is for educational and informational purposes only and is NOT a recommendation to buy or sell anything. To avoid any conflicts of interest, we do not have a working relationship with any of the companies mentioned in our work. Furthermore, we may have a long, short, or no position in any, or all, of the names that appear in our work and they may change at any time without notice. Investing and trading in capital markets or using margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. Before you decide to invest or trade in capital markets you should carefully consider your investment objectives, level of experience, and risk appetite, among other factors. The possibility exists that you could sustain a loss of some, all, or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with capital markets, investing/trading, and seek specific investment advice from an independent financial advisor and other professionals. Remember all the information we provide is for educational and general informational purposes only and is subject to change without notice.
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