[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] In the short term, the next level of support is 1867 in the S&P 500 and the next level of resistance is 1993. By definition, until either level is breached we expect sideways action to continue. Stocks ended lower last week ahead of the long holiday weekend. In our…
[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] It was a historic and very wild week on Wall Street with record point moves (up and down) almost every day of the week. Typically, massive sell-offs do not recover overnight. Additionally, massive selloffs followed by record volatility normally leads to lower, not higher prices – especially when they…
[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] A Big Top & Markets Are Forecasting A Global Recession The damage last week was severe. The market is now on the cusp of rolling over and forming a new downtrend. We do not like to buy new stocks during a downtrend and “leadership” changes drastically during a downtrend….
[su_heading style=”modern-2-dark” size=”20″] Market Update [/su_heading] Stocks rallied last week after the bulls showed up and defended support. It is still early, but the fact that the market refuses to break down is bullish and we have a sneaking suspicion that we will move higher from here. Of course, we remain open to any outcome…