Our most recent Market Analysis articles
Big Downside Reversal
Harry Boxer - May 22, 2013
The stock market indices had a very negative, if not nasty, day today, and perhaps a critical one, with the indices making new all-time highs in the morning, and then rolling over sharply and closing down quite negatively on a big reversal. The stage may be set for a much deeper pullback here. The day started out with moves up and sharply so, the S&P 500 reaching a new multi-year high at 1687.18. At that point, the Nasdaq 100 rallied to 3053.51, also a multi-year high. When Mr.
Fed Talk.....Reversal.....
Jack Steiman - May 22, 2013
So today we had Mr. Bernnake speaking in front of Congress and they were asking the usual ridiculous questions about quantitative easing and how long he intended to keep it going, etc. Would he stop soon? What were the parameters he was using to decide when to stop, and so on. He gave perfect answers. He said if things stay bad he'll continue to flood with cash. If things get really good he'll slow down. Send in the marching bands. Wow! Really? The market eventually sold off.
Positive Session for the 19th Consecutive Tuesday
Harry Boxer - May 21, 2013
The stock market indices had an interesting session, and they closed positive on the day for the 19th consecutive Tuesday. The day started out with a little pop to the upside, and then a very sharp setback that tested support, but held right there. They then started a very strong rally, taking the Nasdaq 100 from 3011 to 3037. The S&P 500 jumped from 1663 to 1675. In the afternoon in the last hour or so, they came down in falling wedges to take back a chunk of the gains and closed off the highs.
Negative Day, but Strong Technicals
Harry Boxer - May 20, 2013
The stock market indices started the week out with upward movement until midsession when the S&P 500 reached just under 1673, a new all-time high, and the Nasdaq 100 reached almost 33. They came down hard in a 5-wave decline, bounced in the afternoon, couldn’t get through resistance after the Fibonacci retracements, and then backed off into the close. Net on the day, the Dow closed down 19.12 at 15,335.28, after reaching 15,391.84, a new all-time high. The S&P 500 was down 1.18 at 1666.
A Drop Of Selling.......
Jack Steiman - May 20, 2013
For now that's all it is, but the question is will it become more or will it be just another drop of selling that gets bought up by the bulls. The answer to that will be answered to some degree early tomorrow. We will watch those futures overnight and they should give us some insight as to whether we're getting follow-through or not. The bears need to get rocking with some momentum now. The longer they wait to hit the market the faster the bulls react to buying any weakness.
Poor Data...Nothing Stopping The Bull....
Jack Steiman - May 17, 2013
Poor data, again, late in the week couldn't get the market to stumble very much. Some, yes, but in a big way, no. We saw the number from the Philadelphia Fed come in below the zero level again after going green the prior month. Minus five, and change, showing their economy is in recession for the very short-term at least. On top of that, we then saw a huge increase in the jobless claims number. Thirty thousand bump up and well above expectations.
Negative Day with Poor Close
Harry Boxer - May 16, 2013
The stock market indices had a tough session with a late sell-off, putting them into negative territory. The day started out positive as the Nasdaq 100 reached 3019 today, only to rollover and close under 3000 at 2999, 20 points off its high, finishing down on the day. Net on the day, the Dow got up to 15,302, and closed down 42.47 at 15,233.22. The S&P 500 was down 8.31 at 1650.47, 10 points off its high.
Interesting Volatile Session with Spectacular Close
Harry Boxer - May 15, 2013
The stock market indices had an interesting volatile session, and at the end of the day they came away with a nice gain, although the story was quite different earlier in the day, particularly in early afternoon when they took a deep slide. However, in the morning the S&P 500 backed off a little bit and consolidated, then exploded, running from 1647 to 1661, 14 points almost straight up. The NDX didn’t do that well going from 2991 to 3005, and then retested that level and failed.