[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] The stock market is getting weaker, not stronger. Over the past few months we have mentioned the disconcerting (bearish) signals that were emerging on our radar. Notwithstanding more easy money from the Fed/other central banks, the market appears to be forming a major top. Leadership has narrowed substantially over…
[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] Stocks rallied nicely last week helping the tech-heavy Nasdaq 100 breakout of its year-long range and hit a fresh 15-year high. The market was able to breathe a collective sigh of relief when the two big threats (Greece and China) were temporarily resolved. Stocks rallied after it became clear…
[su_spoiler title=”Monday-Wednesday’s Action: Buyers Bought The Dip” style=”fancy”] Stocks fell on Monday after Greece failed to reach a deal over the weekend. We would be remiss not to note that European stock markets fell but the euro rallied on Monday. The European Central Bank President Mario Draghi allayed concerns when he said the ECB would…