U.S. Stocks sold off sharply on Friday on the back of some more weak economic news suggesting that the 3rd Quarter GDP is being followed by disappointment in the 4th Quarter.  The Nasdaq closed below its October 1st close.  The Russell 2000 and Dow Transports accomplished that feat on Wednesday.  Volume was heavy.  This market […]

U.S. Stocks rallied on a stronger than expected GDP report, which indicated the U.S. economy grew at a rate of 3.5% in the 3rd quarter.  This ended the most recent downdraft in stocks, which had hit oversold levels in areas of decent support.  The usual culprits also contributed to the rally; a weak Dollar, strong […]

U.S. Stocks closed at their lows of the day today, with their worst losses since October 1st.  The worst performer among the major averages was the Russell 2000, down over 20 points on the session.  This took the average below its October lows, suggesting a significant double top is in place. 
The Dow Jones Industrial Average […]

U.S. Stocks closed lower on Monday, following through on Friday’s losses.  We have not seen the Monday follow through to the downside very often in this bull market that began in March.  This suggests there is more room to the downside.  On the S&P 500, this is major trend line support from the March and […]

U.S. stocks closed significantly lower today, after trading up as much as 100 points on the Dow Jones in early trading.  The apparent culprit was strength in the U.S. Dollar, which began trading quite a bit higher late in the morning, particularly against the Euro.  It is notable that the Dow Transports are the weakest […]

U.S. stocks ended last week on a down note, with the major averages losing anywhere from 0.5% to over 2.0% for the Russell 2000.  The Nasdaq averages held up better on Friday with the help of Amazon, which finished the session up over 26% on bullish earnings.  That stock was also the daytrading star of […]

U.S. Stocks traded higher in the early going, only to reverse and close lower for the day, with losses accelerating in the last hour.  Volume was somewhat heavy, suggesting another bout of distribution.  The market has been making a habit of trading higher on light volume days and lower on heavier volume days.  This is […]

U.S. Stocks continued their seven month bull market, as S&P 500 nudged up against 1,100, before closing at 1,097 and change.  Stocks were set to open trading to the upside today on continued positive earnings reports, and held up nicely for the day.
Many high momentum stocks broke out of small consolidations to new highs today.  […]

U.S. Stocks ended the week with some losses on Friday, but closed the week out with gains compared to the previous week.  Earnings were the primarily driver of stock prices to the upside throughout the week, but the market reacted negatively to IBM’s earnings report on Friday.  As a result, the week ended with modest […]

The Dow Jones Industrial Average closed above 10,000 for the first time in over a year today on the back of stronger than expected retail sales data, and a better than expected earnings report from Intel.  All of the major averages closed at new closing highs for the current bull move in stocks. 
In other news […]