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Despite the ugly close to today's session I don't want to read too much in to that weakness. That's because the S&P; and Nasdaq are still a stone's throw away from new highs as well as the impending payroll report. My primary focus will be on the S&P; 500's trading range. It tried to breakout ...
Stocks
S&P 500
The bears seem to have let another opportunity slip by and are back on the defensive. Today the market basically recouped all of the Dubai related losses from last Friday. The S&P; 500 is back near its 2009 highs and a push above that resistance could create a buying panic from any bears that ...
Stocks
S&P 500
We got some volume back in the market today and with that, I think, some clarity on how much the Dubai debt situation will affect our markets. Cooler, less worried, heads prevailed today after a mild attempt to sell off. But there was little change to the overall technical picture today. So I'm ...
Stocks
S&P 500
Well that was one of the more interesting holiday week that I can remember. The stock market continued to be the tail wagged by the currency (and other) market(s). The effect of the weakening dollar early in the week was offset by the Dubai debt woes at the end of the week. The result was an 11 ...
Stocks
Goldman Sachs
The Nasdaq and S&P; 500 are back within their mid-October congestion zones. Absent any unexpected news or a big move in the dollar, I'd be surprised if they were able to move out of those ranges during this holiday week. But that's not to say that nothing will be moving during the week. We ...
Stocks
S&P 500
Silly me. Last night when I mentioned that today's economic reports could move the market I neglected to mention that moves in the dollar could do the same. But that almost goes without saying these days. Of late, the currency market has been the dog wagging its stock market tail. So even ...
Stocks
S&P 500
It's been a pretty quiet couple of consolidation days since Monday's push to new highs. Volume has been well below average and price has stayed within Monday's range. It feels like people are getting an early start on Thanksgiving. We do have options expiration this week though. While that ...
Stocks
S&P 500
The weak dollar, strong stocks trade asserted itself again today, this time lifting many of the indices to new 52-week highs. So the bears can no longer hope for those double-top and head & shoulder patterns to pan out. Even the small cap Russell 2000 climbed back above its 50-day moving ...
Stocks
S&P 500
tradermike.net - 22 days ago
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tradermike.net —
We had a little pullback today on mixed
volume. The S&P; 500's volume remained about the same...
as the past couple of sessions but volume increased on the Nasdaq, Russell 2000 and Dow. So I still have the same concerns about a lack of upside volume ...
(more)
November 12, 2009 Stock Market Recap
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found this 22 days agofound this
The market has gained some ground since my last post but there were no technical developments to change my opinion on things. I'm still skeptical of this attempt at new highs. The indices are now firmly overbought and there's been poor volume behind this rally. At best (for now) the Nasdaq and ...
Stocks
tradermike.net - 24 days ago
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tradermike.net —
So it's broken record time for me. You
know I have to complain about the lack of...
volume over these last few sessions. Sure, the price action has been great but I just can't shake the feeling that I shouldn't trust this rally due to the relatively ...
(more)
November 9, 2009 Stock Market Recap
I don't want to read too much into today's rally because it was on lackluster volume and because tomorrow's employment report could override any technicals. The S&P; and Nasdaq climbed back above their 50-day moving averages today. That's a good sign for the bulls but we've still got to watch ...
