Tuesday, September 7, 2010
Stock Market Commentary:
Stocks fell around the world as concern spread that the European debt crisis may worsen. The market’s internals were mixed with decliners trumping advancers but new highs leading new lows. The number ofhigh-ranked companies from the CANSLIM.net Leaders List made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page were lower than the 71 issues that appeared on the prior session.
Fresh EU Debt Woes Send Stocks Lower:
Stocks were closed on Monday in observance of the Labor Day Holiday. On Tuesday, stocks slid amid fresh concerns that the EU debt crisis may derail the fledging global economic recovery. Normally, it is healthy to see the major averages pullback on light volume shortly after a new follow-through day (FTD) emerges.
Last Wednesday, the market confirmed its latest rally attempt and spent the rest of the week advancing. Therefore, a modest decline after a four day rally is considered healthy as it offers investors a chance to accumulate high ranked stocks near appropriate buy points. The Dow Jones Industrial Average fell after encountering resistance near its 200 DMA line but managed to close above its 50 DMA line. The other major averages also closed above their short term 50 DMA lines, which is an encouraging sign.
Market Action- Confirmed Rally:
Looking forward, the window is now open for disciplined investors to begin carefully buying high-ranked stocks again. It was encouraging to see a flurry of high-ranked leaders trigger fresh technical buy signals and break out of sound bases in recent sessions. The next important level to watch for the major averages are their respective 200-day moving average (DMA) lines. It is important to note that approximately 75% of FTDs lead to new sustained rallies, while 25% fail. In addition, every major rally in market history has begun with a FTD, but not every FTD leads to a new rally. Trade accordingly.
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 Fall Amid Fresh EU Debt Woes
Tuesday, September 7, 2010
Stock Market Commentary:
Stocks fell around the world as concern spread that the European debt crisis may worsen. The market’s internals were mixed with decliners trumping advancers but new highs leading new lows. The number of high-ranked companies from the CANSLIM.net Leaders List made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page were lower than the 71 issues that appeared on the prior session.
Fresh EU Debt Woes Send Stocks Lower:
Stocks were closed on Monday in observance of the Labor Day Holiday. On Tuesday, stocks slid amid fresh concerns that the EU debt crisis may derail the fledging global economic recovery. Normally, it is healthy to see the major averages pullback on light volume shortly after a new follow-through day (FTD) emerges.
Last Wednesday, the market confirmed its latest rally attempt and spent the rest of the week advancing. Therefore, a modest decline after a four day rally is considered healthy as it offers investors a chance to accumulate high ranked stocks near appropriate buy points. The Dow Jones Industrial Average fell after encountering resistance near its 200 DMA line but managed to close above its 50 DMA line. The other major averages also closed above their short term 50 DMA lines, which is an encouraging sign.
Market Action- Confirmed Rally:
Looking forward, the window is now open for disciplined investors to begin carefully buying high-ranked stocks again. It was encouraging to see a flurry of high-ranked leaders trigger fresh technical buy signals and break out of sound bases in recent sessions. The next important level to watch for the major averages are their respective 200-day moving average (DMA) lines. It is important to note that approximately 75% of FTDs lead to new sustained rallies, while 25% fail. In addition, every major rally in market history has begun with a FTD, but not every FTD leads to a new rally. Trade accordingly.
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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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