What a recovery! The Dow came back from nearly a 300 point fall to end the day with only 22.8 point loss, S&P from over 30 points drop to end in positive territory, NASDAQ from the depths of a 73 point loss to close almost flat. As dramatic (except the…
Yesterday’s Stock markets continued the correction that started from the peaks on January 19th and closed on new lows (since then) as DJIA , S&P 500 and NASDAQ fell 2.6%, ~3% respectively. Dow Transport is now sitting at 200Days EMA. It was an intense selling day, downside volume dominated the…
Does this rebound represent the start of a new leg higher in the uptrend dating from the March 2009 low or is it a temporary reaction to short term oversold conditions for bear market rally that topped in Jan 2010? You may make the argument for both the cases. Here…
US markets are at an interesting point. Recall the chart I shared about a month ago, and wrote following- I think now is the time for precaution; Well, if you look at the chart above, you will notice that Dow is very close to the 50% mark (i.e. losses from…
So Dow managed to cross over 10,000 stayed above that level for the past two days. Where will it close today, no one knows and hence let’s discard today’s move. So is it time to celebrate great news of 10K crossover or time for caution? No doubt, markets, world wide,…
As I mentioned earlier Dow is facing resistance in the 9420-9450 area and yesterday’s selling took it even farther away. Even relatively positive economic news failed to stop selling and after gapping down market traded in a very tight range. By the close of the day, all the major indexes…
Overall an interesting week that it was, but I think there is more to come. On a weekly basis, it appears as if MACD and RSI are about to register sell signals. Mr. Market can go whichever direction it wants to, but hey, at the end of the day, this…
As of yesterday’s close, the DJIA has gained 21% since establishing the March 9 low. The S&P 500 and NASDAQ have gained 23% and 25%, respectively, over the same time period. Wow, we have had wonderful rally so far, >20% gains in matter of less than 3 weeks; and probably…
So we had it finally. The pressurized spring bounced back and shorts were pressed against the wall to cover. Fantastic rally by all means, it was easily qualified as a 90% Upside Day on both the NYSE and the NASDAQ that too on expanding volume. Market breadth was also much…
I have tried my best to warn OP readers of the upcoming storm, over and over again starting from November 2007. Fun fact, this is what I wrote then- But hey, if you do get a bearish market, then don’t forget to mention that you were told first hand here…
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