The Outlook Wednesday's market collapse wiped out any remaining overbought stocks and has turned much of the market oversold. However a market bounce may be too early on Thursday to hold. I am expecting a lower day. That means keep capital aside and wait to see if the market can stabilize here or needs to move still lower first. After a big...
The Outlook Market breadth continues to deteriorate. I think after the Fed's decision is released we will see sell lower. I put together a SPY ETF trade on Wednesday ahead of the interest rate decision. I might also buy a handful of SPY put options if there is a bounce in the morning as the technical indicators are advising stocks are going to...
The Outlook Historically we should expect a higher close today, ahead of the Fed's highly anticipated interest rate announcement on Wednesday. The major trade being setup today is in the SPY ETF ahead of tomorrow's Fed interest rate announcement. Adobe Stock (ADBE) There was no further trade on Monday in Adobe Stock (ADBE). Broadcom Stock (AVGO)...
The Outlook I am expecting a lower day based on the SPX technical indicators after Friday's close. The downside though I think is fairly limited. It is Wednesday where were could see the larger move in the index. Many investors are waiting more for the Santa Claus Rally that happens many times from Dec 25 to Jan 2 (approx). At present the...
The Outlook As suspected, Wednesday's bounce didn't hold and the PPI numbers were enough to bring out sellers. Today will probably be negative although the morning could see some buying. The close though is expected to be lower. Remember to use any spike higher to take profits in those trades that have profits. On Thursday I was still sick and...
The Outlook The bounce on Wednesday was great to see but the underlying statistics were not as impressive. The S&P still saw more volume being traded lower. Over the past 8 trading days more volume has been traded lower 7 of the 8 days. Today 51% of all volume was traded to the downside. Over the past 8 trading days, 6 days have seen more...