Nice Earnings Rally – Good News Is Priced In and Headwinds Will Blow Yesterday the market shot higher after the French election results. Stocks were able to hold gains throughout the day and that is a positive sign. Earnings season is in high gear and Thursday will be a very important day. For the time being the focus is on … Read More

Here’s The Rally – Market Will Try To Hold Gains – Big Day Friday This is going to be a busy week. I’ve been telling you to get long for the last week and that advice is paying off. The market has been choppy, but it has been moving higher. This morning the S&P 500 is up 25 points before … Read More

Market Surged Through The 50-Day MA – Stocks Will Float Higher Next Week Yesterday the market treaded cautiously for the first hour. The opening gains held and buyers started to nibble. Once the S&P 500 made a new high for the day we were off to the races. The market finished above the 50-day moving average and the bid looks … Read More

Market Headwind During Bullish Period Could Be A Warning The market is fighting a stiff headwind. Typically stocks rally as earning season begins. Yesterday stocks rallied on the open and they drifted lower the rest of the day. The price action was bearish and I don’t trust the early rally this morning. Earnings season is in full bloom and in … Read More

Market Bid Is Strengthening – SPY Will Challenge the 50-Day MA This Week Yesterday the market probed for support and it bounced before it challenged the lows from Friday. I view this higher low as a bullish sign and the bid is starting to firm up. Stocks should move higher and the market will challenge the 50-day moving average this … Read More

The Key To the Market Is the Financial Sector – Use XLF As Your Guide Yesterday the market bounced and it was fairly quiet for the first half of the day. Traders were nursing a holiday hangover and the action was light. Late in the day buyers stepped in and the S&P 500 finished just below the 50-day moving average. In my … Read More

Market Will Stabilize As Earnings Crank Up Last week the market showed some signs of strain. I thought the downside might be tested and I mentioned it earlier in the week. The SPY closed below the 50-day moving average and a wedge pattern was breached. Volume was moderate and this move needs to be respected. Earnings season typically attracts buyers. … Read More

Market Will Stabilize – Start Looking For Bullish Put Spreads! As I mentioned in my comments yesterday the market had more work to do on the downside. The reversal Tuesday was nice but it lacked conviction. Political news is dominating the headlines and investors are nervous. Stocks sold off yesterday and the market closed below the 50-day MA. The remedy … Read More

Trump Wants A Healthcare Bill – This Will Delay Tax Cuts – Bearish Yesterday the S&P 500 sold off 20 points on the open. Our market rating had very negative reading on Monday and it was correct. Stocks sold off sharply and they spent the rest of the day recovering. The bounce was nice but it still feels like there … Read More

Market Feels Heavy – Weakness Will Run It Course Soon – Bid Will Grow The market feels heavy and we are seeing two-sided price action. There are plenty of positives and negatives. Volatility will increase during the next two months and the volume will be brisk. Earnings season will begin this week and that is a positive. Corporate profits were … Read More