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...
The Outlook December can at times be a tricky month. Often there are dips in the first couple of weeks and if they get deeper, investors and analysts start to worry. Then the so-called Santa Claus Rally comes in and the month ends higher. We may be seeing a setup for that scenario. Even last week, while the index climbed, I pointed out that...
The Outlook There is a good chance for a bounce attempt in the morning today. However it will be an opportunity to take profits and many investors will sell some of their positions out. We could see some further selling today and indeed part of this week. Historically the second week of December has seen selling many times over the past 4...