The Outlook The market is overbought but not all the technical indicators are signaling a larger dip is likely just yet. With more room to rally, dips remains opportunities to setup trades. On Monday, the closing candlestick had two shadows, head and tail which indicates, overbought and dips likely but still further upside. In the overbought...
The Outlook Friday's closing candlestick warns we could see a dip, possibly a large one, on Monday. It could be at the open or into the mid-morning but the outlook is for a positive close. Friday was primarily profit-taking after Thursday's huge jump. This week could be a bit weak as historically the end of September and start of October are poor...
The Outlook Thursday saw the "delayed" reaction from Wednesday's Fed half point rate cut. With the outlook for further rate cuts into the end of the year and continuing in 2025 the outlook at present is higher for stocks. The next potential stumbling block is October which tends to be tough on stocks which this year culminates in the elections at...
The Outlook Last week the market rallied in anticipation of the Fed cutting interest rates this week. With the rate cut over for the moment, it is not unusual for investors to sell stocks and take profits but we should see the indexes move higher either today or Friday. I m expecting it to move higher today. Tomorrow's Trade On Hold The...
The Outlook Everything comes down to the Fed's decision on interest rates today at 2:00 PM. A no rate cut would be a disaster for the market short-term and is not expected. Personally I think Powell tends to be methodical and so a 25 basis point cut now and then another 25 basis point cut in October seem more likely. However if the Fed is a bit...
The Outlook The MACD technical indicator confirmed Friday's up signal on Monday at the close. The MACD indicator is among the more reliable technical tools in use. However with Wednesday's interest rate decision just a day away, it is better to stay cautious today and part of tomorrow until the decision is announced. I am expecting a quarter...