Stocks rallied nicely on Tuesday after the bulls showed up and defended the 50 DMA line for many important areas of the market including the benchmark S&P 500 and Dow Jones Industrial Average. Overnight, stocks rallied after Japan said it will intervene in the currency market if the “one-sided” yen continues to rally. Japan’s Finance…
Stock Market Overview: Futures are higher ahead of Tuesday’s open as bulls try their best to defend the 50 DMA line. Gary’s Thoughts: Market (especially financials) in that area that needs to hold. Suspect it holds for now. Easy money continues! Economic Data: NFIB Small Business Optimism Index 6:00 AM ET Redbook 8:55 AM ET JOLTS 10:00 AM ET…
Stocks ended mixed on Monday after a slew of commodity stocks fell hard as biotech and a few big cap tech stocks rallied. Elsewhere, gold and silver fell hard as the hot money moved out of commodities and into beaten down areas of the market like biotechs. China’s stocks fell after the country reported a…
“SO THE DONALD MAY WANT TO HIKE TAXES!” By Gary Kaltbaum May 9, 2016 So the Donald may want to hike taxes. So the Donald floats higher taxes for the “privileged few!” And just what party is the Donald in? Hey Donald, why? For what? You say you want to raise taxes? How about…
Stock Market Overview: Futures are higher ahead of Monday’s open after the bulls showed up and defended the 50 DMA line on Friday. Gary’s Thoughts: Considering the Dax, not much higher…but things are not open yet. Economic Data: Charles Evans Speaks 5:10 AM ET Labor Market Conditions Index 10:00 AM ET TD Ameritrade IMX 12:30 PM ET Neel…
We thought the action around April 22 had the market putting in a high at that time. We think that high and subsequent drop was a little nastier than we thought. But…we also think Friday’s action could possible put in a near term low as the DOW and S&P held the 50 day…so far. Keep…
The bulls were disappointed on Thursday after the bears showed up and sent stocks lower. Before the open, futures were higher after oil prices spiked nearly 5%. The Dow Jones Industrial Average and S&P 500 pulled right into their respective 50 DMA lines and were due to bounce. The inability to bounce speaks volumes to how…
Stocks fell on Wednesday as investors digested a slew of economic and earnings data. Before the open, ADP said private employers added 156k new jobs in April, missing estimates for 193k. That was the weakest print since 142k in Feb 2014. After the open, the PMI services index came in at 52.8, just higher than the…
Stock Market Overview: Futures are a little higher ahead of Thursday’s open as investors digest another busy week of earnings and wait for Friday’s always fun fake jobs report. Gary’s Thoughts: Obligatory gap off the support we talked about last night. Oil soaring on some news that may be temporary. Economic Data: Chain Store Sales[Bullet Challenger Job-Cut…
Last week, we really believed that the market itself was showing characteristics that it was tired. But that by itself does not send a market down. We then saw the selling that got us to take notice and tell you we thought the market was about to top for now. THE MARKET HAS INDEED TOPPED FOR…
