While the major indices go back and forth, here are some things we are seeing inside the market. Remember, this is an end-of-month (almost) week as well as pre-holiday trading where the bias is usually positive. SEMIS- Great move last week off lows. Very important to market. Headed into massive resistance yesterday and sold down…
Market Update: Stock futures are higher ahead of Tuesday’s open as the whip saw action continues on Wall Street. In the near term, the S&P 500’s next level of resistance is the 50 day moving average. Gary’s Thoughts: Economic Data: Redbook 8:55 AM ET New Home Sales 10:00 AM ET Richmond Fed Manufacturing Index 10:00 AM ET 4-Week…
Stocks were quiet on Monday as investors piled into Apple (AAPL) and several semiconductor stocks. Apple rallied after a report was released that suggested the tech giant asked its suppliers to prepare 72-78 million units, above the market’s expectation of 65 million units for the iPhone. In other news, two Fed officials spoke on Monday and both were…
“CONTINUED WHIPSAW” By Gary Kaltbaum May 23,2016 First off, this week is end of month (almost) and into a holiday weekend. Typically, typically, the bias is positive. Secondly, the loudest Fedhead who last week was teasing rate hikes in June and farther out…is now saying they can always wait! What happened to “June is a live…
Market Update: Stock futures are lower ahead of Monday’s open as investors digest last week’s sloppy action. In the near term, the S&P 500’s next level of resistance is the 50 day moving average. Economic Data: Our award winning weekend market report will be out tonight. Just still a lot of range-bound nausea with rolling…
On Thursday, stocks opened lower after the latest round of economic and earnings data was released. Before the open, Wal-Mart ($WMT) beat by 10 cents but that came after the retail giant lowered guidance several times in the past year. Economic data was mixed, jobless claims fell by 16k, to 278, missing estimates for 275k….
On Wednesday, stocks were higher but fell after the Fed released the minutes of its latest meeting. The minutes showed the Fed would entertain a potential June rate hike if economic conditions improved. The USD rallied hard on the news and a slew of commodities fell. Financial stocks were bid higher all day after the bulls…
“RATE HIKES? AND THE KNICKS WILL WIN THE NBA TITLE!” By Gary Kaltbaum May 19,2016 Headline: “In a clear message to the market, the Fed says rates may rise again in June.” Say what? Clear message? What clear message? Wasn’t it just a few weeks ago these same people said they were worried about international issues and had to stand…
SOURCE: https://www.zerohedge.com/news/2016-05-18/venezuelan-police-unleash-tear-gas-rubber-bullets-amid-violent-anti-government-prote
Market Update: Futures are lower ahead of Thursday’s open as investors digest another volatile week on Wall Street. Stocks were up big on Monday, down big on Tuesday, then were up most of Wednesday before turning lower after the Fed minutes were released. Lots of areas of the market are beginning to roll over and any further…
