Stock Market Commentary

  • Stocks Drift Lower On Last Day Of Q3

    ByAdam Sarhan

    The action since this rally was confirmed on the September 1, 2010 follow-through day (FTD) has been very strong. Looking forward, the window is open for disciplined investors to carefully buy high-ranked stocks, while many pundits are expecting that markets may consolidate following recent gains. It was encouraging to see the bulls show up and defend support (formerly resistance) last week. The next level of support for the major averages is their respective 200-day moving average (DMA) lines while the next level of resistance is their respective April highs. Trade accordingly.

  • Summer Highs Are Breached, Next Stop; April’s Highs

    ByAdam Sarhan

    The action since this rally was confirmed on the September 1, 2010 follow-through day (FTD) has been strong. Looking forward, the window is open for disciplined investors to carefully buy high-ranked stocks, while many pundits are expecting that markets may consolidate following recent gains. It is very encouraging to see the major averages and several leading stocks break above stubborn resistance levels and continue marching higher. All the major averages rallied and managed to stay above their respective 200-day moving average (DMA) lines last week, which is another encouraging sign. Now that the summer highs are breached, the next important resistance level for the major averages are their respective April highs.

  • Stocks Rally For 3rd Straight Week

    ByAdam Sarhan

    Friday, September 17, 2010 stock market commentary. Overall, the action since this rally was confirmed on the September 1, 2010 follow-through day (FTD) remains healthy. 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 weeks. All the major averages rallied and managed to stay above their respective 200-day moving average (DMA) lines this week, which is another encouraging sign. The next important resistance level the major averages are facing is their respective summer highs

  • Stocks End Mixed On Busy News Day

    ByAdam Sarhan

    Overall, the action since this rally was confirmed on the September 1, 2010 follow-through day (FTD) remains healthy. 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 weeks. All the major averages rallied above their respective 200-day moving average (DMA) lines this week, which is another encouraging sign. The next important resistance level the major averages are facing is their respective summer highs.