The Outlook Stocks are still overbought for the start of the day despite a fair amount of selling on Tuesday. While the indexes did not fall very much, volumes were high on both exchanges. The SPX saw 78% of all stocks falling and the NASDAQ had 67% of all stocks turning lower. For today I am expecting further dips and a lower close. There will...
The Outlook Historically the day after Veterans Day tends to be bullish. Today though stocks are extremely overbought. The past two trading days have seen an under current of selling as many investors are taking some profits in the rally. That selling pressure is showing up in the technical indicators which are showing some stress and starting to...
The Outlook Veteran's Day has favored stocks the majority of the time since my records from 1974. Part of the reason is the bond market is closed which usually assists stocks in moving higher. Overall I am expecting some dips as the majority of stocks are overbought. Expedia Stock (EXPE) They reported a revenue miss but an earnings beat on...
The Outlook I am expecting some dips today and a more choppy trading day but we should see the S&P move above 6000. It may not close above it however but the outlook is still bullish despite being overbought. The Fed rate cut was almost a non-event. The news conference was low key. AIRBNB Stock (ABNB) They reported a revenue increase but an...
The Outlook Indexes are signaling overbought after Wednesday's massive rally. I don't think anyone is surprised. Today we could see some dips as profit-taking occurs. I would expect the open to be a bit higher and then stocks will dip. We could see a bit of a rally either heading into 2:00 PM and the Fed's decision on interest rates, or after the...
The Outlook Wednesday will be positive for stocks following the win by former President Trump and the Republicans in Tuesday's elections. The morning may open quite high but then dip back a bit before moving higher into the close. I am not expecting a choppy day for stocks. Stocks will be quite strong today. For today I will be returning to...