We have been telling you that there were only a few groups left holding up the market. Recently, oils went bye bye…leaving the semis and financials as the ports in the storm. We are letting you know that the all-important semis are now looking to be in trouble here. If they go, all that is…
Stocks opened lower on Wednesday after the latest round of mostly disappointing earnings and economic data was announced. A handful of well-known stocks gapped down after reporting earnings which is not good for the market. FLT, PXD, ADPT, PAYC, DXCM, CERN, DATA, ZEN, PLT, MTCH, & HLF were some of the stocks to fall on earnings. Alibaba…
Market Update: Stock futures are relatively quiet ahead of Thursday’s open as investors digest the week long’s sell off, the latest Fed meeting, the latest round of earnings, and are now waiting for the election on Tuesday. Gary’s Thoughts: FB down about $5.50 near open not helping NASDAQ but S&P futures up a wee bit….
Sorry for the harsh but we are so sick and tired of these numbskulls at the Fed. When is everyone going to realize that these “boy who cried wolf” meetings are just that? We just had the fed announce: “The Committee judges that the case for an increase in the federal funds rate has continued…
Stocks fell on Tuesday causing the S&P 500 to slice below major support (Sep’s low of 2119 & Oct’s low of 2114). It also briefly broke below the psychologically important 2,100 level before buyers showed up in the afternoon. There is a lot of technical damage in the major indices. Over night, three major central…
Market Update: Stock futures are relatively quiet ahead of Wednesday’s open as investors digest Tuesday’s sell-off and wait the Fed to wrap up its latest meeting this afternoon. Gary’s Thoughts: Fed day. Anything is possible especially with markets somewhat oversold here. Keep in mind, lots of blow-ups with this morning no different. DXCM,PAYC,PXD,X,ADPT,AGN,CERN,DATA for starters….
We know we have a maniacal Fed meeting tomorrow. We know we have an election next Tuesday that looks like as of this juncture, anything is possible. But absent the Fed announcing another round of QE, our thoughts of the market deteriorating continues. In fact, on a daily basis, the underlying action continues to worsen. While…
Stocks were quiet on Monday which was the last trading day of October. All the major averages ended lower in October with the S&P 500 and Dow Jones Industrial Average experiencing their third straight monthly decline. News was relatively quiet as investors continued to digest the latest round of mixed earnings data and continued watching…
Market Update: Stock futures are higher ahead of Tuesday’s open as investors wait the Fed to wrap up its meeting on Wednesday and continue to digest latest round of earnings data. Gary’s Thoughts: Dollar is indeed sinking here with commodities with little gaps to the upside. A weaker dollar, in the past, has been a…
By Gary K More deterioration…simple as that. Most are blaming Friday’s swoon after a strong open on the Clinton news and gather they are correct. But we do not rationalize. Just remember, markets have been deteriorating for weeks. And now: The Russell 2000 indeed broke the support we outlined for you at about 1200. In…
