The Outlook After Friday's plunge we could see a bounce. The last large plunge was Dec 18 when the SPX lost 178 points in what was a very ugly day. However the next day the loss was just 5 points, followed by a gain of 64 points. There is a lot of support at the 6000 valuation in the SPX. We could see an attempt to move below it today or early...
The Outlook On Thursday stocks sold off on fears consumers are starting to pullback from buying. In many names the selling was overdone. I took advantage of the sell-off to setup a number of trades in stocks that were pulling back. Put premiums were excellent. Dip or A Correction? I think the pullback on Thursday was primarily a dip and not the...
The Outlook Wednesday saw another new high on the SPX and stocks are becoming overbought. There is still room to the upside but we could see the SPX take a bit of a break today. Toll Brothers Stock (TOL) I was unable to get a trade placed on Wednesday and will be back trying today. I want to see if the stock can bottom, even interim from the...
The Outlook The SPX is making new highs and I expect another higher close today. Stocks are overbought as a group but there is still room to move higher before the index will need to take a break. Toll Brothers Stock (TOL) Earnings after the close on Tuesday were much lower than estimated or expected. The stock tumbled after hours by $8.00. I...
The Outlook On Friday the MACD technical indicator turned strongly higher. This reverses the unconfirmed down signal from Wednesday. The morning could start higher, which is typical after the Presidents Day holiday, but then slip lower before rallying in the afternoon to close higher. The SPX is within a handful of points of a new all-time high....
The Outlook Thursday's afternoon rally may give way at the open, to some selling but overall I am expecting a higher close for both the SPX and NASDAQ indexes. Coinbase Stock (COIN) They reported excellent earnings on Thursday after the close. Initially investors were selling the stock but once the stock started to turn higher, volumes picked up...