SPX Monitoring Purposes: Short SPX on 9/1/23 at 4515.77; cover short 9/5/23 at 4496.83 = gain .43%. Gain since 12/20/22: 15.93%. Monitoring Purposes GOLD: Long GDX on 10/9/20 at 40.78. The bottom window is the 21-day…
Category:
Stocks
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We compiled a list of the 10 biggest uncertainties in the stock market right now. In no particular order: China-trade wars and chip wars Oil and food inflation Strikes Government shutdown Corporate and individual bankruptcies…
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The Energy sector has the highest percentage of analyst buy ratings (around 64%) of all S&P sectors in the US stock market. The kicker, however, is that these same analysts project Energy to have the…
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Stocks fell sharply in September with the S&P 500 SPDR (SPY) breaking below its August low. Chartists can now use this low as a benchmark low to gauge relative performance. Stocks that held above the…
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Last week wasn’t the most optimistic on Wall Street. Even though the US economy is growing, Federal Reserve Chairman Jerome Powell’s comments after the Fed meeting weren’t what investors wanted to hear. The Federal Reserve’s…
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The stock market suddenly has the look of a wounded prize fighter. And the bond market is bordering on being dysfunctional. In a word, the market is disoriented. Disorientation leads to mistakes. Don’t be fooled.…
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It’s almost impossible to call market tops and market bottoms using basic technical analysis tools like price and volume. Don’t get me wrong, that combination is my favorite during trend-following periods. But trying to spot…
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In the previous technical note, it was mentioned that the markets are prone to some consolidation and corrective retracements due to the technical setup on the charts. It was also mentioned that the precariously low…
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This week I appeared with David Keller on Stockcharts Final Bar. We discussed how the market is at a precipice. And no doubt, the words I wrote on April 20th Daily “Now That “Stagflation” Has…
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There’s no denying that we’ve seen signs of distribution from key stocks like Apple, Inc. (AAPL) and Tesla (TSLA) breaking down to breadth conditions that have become less bullish by the week. This week, we…