This may sound crazy but we are always looking for a reason to be bullish. Our bullish or bearish stance comes from reading the tape, its patterns, its fear and greed. We are always looking for changes. We are looking for when the worst areas bottom and the best areas to top. But we need…
Stock Market Overview: As of this writing (6:25am), U.S. stock futures are up nicely for the 3rd day in a row. Stocks are closing early on Thursday (1pm EST) and will be closed on Friday for Christmas. On the earnings front, Nike ($NKE) reported numbers after Tuesday’s close and is up about 3% in the pre…
Stock Market Commentary: Stocks ended higher on Tuesday after the government said Q3 GDP rose by 2%, topping estimates for 1.9%. In other economic news, the National Association of Realtors said existing home sales plunged -10.5% in November to an annualized rate of 4.760 million. This greatly missed the Street’s estimate for 5.32 million. Elsewhere, energy…
Stock Market Overview: As of this writing (7:45 am)U.S. stock futures are up nominally as investors await the final reading on Q3 GDP which is expected to increase by 1.9% (released at 8:30 am). Nike (NKE) will report earnings after the bell. Otherwise, the economic calendar remains relatively light during this shortened holiday week. In observance of the Christmas…
Stock Market Commentary: Stocks ended higher on Monday as oil prices fell. Stocks opened higher then briefly dipped into negative territory before a late day rally in the final hour helped the Dow Jones Industrial Average finish up 124 points. Overnight, China’s Central Bank announced new #EasyMoney measures to stimulate their slowing economy. The People’s Bank of China,…
Stock Market Overview: U.S. stock futures are up triple digits before Monday’s open as the Christmas countdown continues. The economic calendar will be light during this shortened holiday week. The big data point will be the final reading of Q3 gross domestic product (GDP) (8:30 am Tuesday). In observance of the Christmas holiday. Stocks in the U.S. will close…
Our award winning weekend report will be out on Monday but first: 70% of the market remains bearish. Yellen said she is confident in the economy just as economies are rolling over. Earnings growth blah. Sales growth down. We are not kidding! Beware.
Stock Market Overview: U.S. stock futures are lower ahead of Friday’s open as oil prices continue to hit fresh multi-year lows. Today is known as quadruple witching day which means a series of options are expiring today. Typically, that leads to increased volume near the close. Today is also the last trading day of the week…
Stock Market Commentary: Stocks fell on Thursday and gave back most of Wednesday’s gains as the U.S. dollar rallied and investors digested the first Fed hike since 2006. The weak action we are seeing on Wall Street highlights what we have been telling you all year: The market looks toppy up here as fewer and fewer…
Stock Market Overview: U.S. stock futures are up before Thursday’s open as investors digest the first Fed rate hike since June 2006. Stocks rallied nicely after the Fed meeting because even though the Fed raise rates by a quarter point they still maintain a very dovish (a.k.a #EasyMoney) stance. Gary’s Thoughts: Europe strong…Asia strong…we…
