Stocks rallied on Thursday as the market added to Wednesday’s very strong positive reversal. Overnight, the Shanghai composite plunged -6.4% and hit a three-week low. Rumors spread that China’s central bank injected another $52 billion into the money market to help stabilize markets. The ChiNext index which tracks small-cap Chinese stocks tanked -7.7% which clearly…
Stock Market Overview: Futures are up ahead of Thursday’s open. Stocks staged a big positive reversal on Wednesday after bouncing off their 10 day moving average line. The next level of resistance to watch is Monday’s high and the 50 DMA line. Gary’s Thoughts: We repeat…watch the 50 day. A move above does not hurt but keep…
Stocks opened lower but closed higher on Wednesday after the latest round of lackluster earnings and economic data were released. Oil prices also positively reversed after the latest EIA report was released. Economic data was less than thrilling. First, February’s Flash PMI Services Index Fell to 49.8, miss estimates for 53. Then New Home sales plunged -9.2%…
Lots of questions being asked so one more email: We do not believe recent lows get taken out any time soon. We know the last rally only lasted 10 days but bear market rallies usually last a multiple amount of weeks. Time and price take care of the stretched, extended and oversold conditions. Even though…
Since we are being asked: A Financial Times headline says that JP Morgan had to add $500 million to loan loss reserves because of “energy pain!” Now you know why financials have been acting horrid. They are not going to be alone. Remember, in bear markets, everything comes front and center as debt and leverage become…
February 24,2016 It’s happened again! Since it has happened again, we felt it necessary to send out the most important characteristic of a bear market. And yes, we coined this term during the last big bear market. “Bear market rallies are sharp, quick, make you feel good, suck you in and bury you soon after.”…
Stock Market Overview: Futures are down ahead of Wednesday’s open as the market continues digest it’s strong rally off the Feb 11th, near term low. During that time, the benchmark S&P 500 soared nearly 7% which is not an insignificant sum. Remember, moves of that size typically happen during bear, not bull, markets. Gary’s Thoughts:…
Stocks rallied on on Monday as the market added to last week’s gain. The Dow Jones Industrial Average traded above the middle of it’s double bottom pattern and the next level of resistance to watch is the declining 50 day moving average line (16,654). European and Asian equity markets also rallied on Monday after oil…
Another gap to the upside this morning and lots of questions. Let us repeat our thoughts. We are now in rally mode of unknown price and time. We came to this conclusion because of the “sold out” action we again saw on Feb 11-12. We have seen these rallies before. All have failed miserably. Will this…
February 22,2016 By Gary Kaltbaum garyk.com @GaryKaltbaum Fox News Business Contributor The good news is that the bearish markets are doing their job of rinsing out some of the froth and speculation that occurs in the latter part of bull markets. Firstly, the IPO business as well as the secondary business has all but dried up. Towards the…
