The Outlook The outlook for Friday had been for a lower close but I had not expected the close to be so deep, thanks in large part to semiconductor stocks tumbling. A large part of the selling was caused by Applied Materials whose stock fell 9% or $17.12 after reporting disappointing forward revisions. The SMH ETF fell 3.32% or $8.32 to close at...
The Outlook I had expected a higher close on Thursday but Fed Chair Powell comments, mixed with hotter PPI numbers sunk any chance of a higher close. For Friday investors have a lot of economic reports including retails sales, to wade through. I am expecting another higher open but lower close with choppy trading. Shopping on Friday On Friday two...
The Outlook Stocks remain overbought but are consolidating as many investors are taking profits. The markets remained uneven in trading but overall they are hanging onto most of the gains from the recent rally despite many analysts who are calling for a correction of 3% to 5%. That's a hard call to make as this tends to be a strong two months for...
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...