The Outlook Tuesday's rally was not as strong as Monday's which, considering the oversold condition of the market on Friday, is understandable. Still, there are a number of signs warning that the rally is weaker than ideal and the closing candlestick on Monday signaled a possible dip today in the index and a potential for a flat to lower close....
The Outlook Monday could see some weakness to start the day or in the morning but overall I am expecting a bullish start to the shortened Christmas week. I expect Monday to end higher. Normally Christmas Eve which ends at 1:00 PM is higher and the day after Christmas is also higher as the Santa Claus Rally gets underway. I am expecting a rally...
The Outlook Thursday loss of the day's bounce was typical of a market with many nervous buyers. They worry about committing capital after a large plunge. Is there more downside to come or is the sell-off an opportunity as so many drops this year have been? That's what investors were trying to figure out on Thursday. On Friday, ahead of the...
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)...