Market Update – Low Conviction, But Better Than Expected
1:36 PM ET Today the averages’ performance could be considered a lack of conviction and rightly so ahead of this...
Breakouts Across The Board, But Do the Averages Test Support Before Heading Higher? I Think It’s a Fairly High Probability.
2:12 PM ET The 2-yr yield is up +11bp, the 10-yr yield up +10bp and the U.S. Dollar is up...
QQQ Updated 3C Chart
12:01 PM ET QQQ (2m) 3C signals… Just perfect for a bull flag. More to come…...
Averages Are On Track, Breaking Out…
11:53 AM ET The averages are breaking out, heading toward our higher measured moves… Averages… SP-500 +1.35%, Dow +1.35%...
Afternoon Update – Beware Knee-Jerk Reactions. Once Again, The Concept Is Proven Correct On This FOMC Day.
As I’ve said the last 2 days, “Beware of initial FOMC knee-jerk reactions. They are often wrong and retraced.” U.S....
FOMC – Outlook Uncertainty Has Increased Further – Fed
2:17 PM ET The Fed kept ranges as widely expected with just a 2% chance of a rate cut this...
Market Update – Consolidations Continue to Go Well
12:38 PM ET The major averages are still tracking nicely in developing bull flags… Averages SP-500 +0.1%, Dow +0.6% (Transports...
URA to $29
URA (+3%) just started breaking out of a bull flag today with a conservative measured move of $29 which is...
Afternoon Update – Consolidations Still on Track
3:21 PM ET The day for the market has been on the slow side – pretty typical of consolidations. Price...
Market Update – Consolidation Phase Continues
12:08 PM ET Stocks came off their morning lows following Treasury Secretary Bessent comments in his House testimony that it...
Afternoon Update
3C charts have deteriorated a bit more this afternoon, which only increases my conviction that we are in a correction...
Market Update – Consolidation Process Has Begun. What Next?
12:12 PM ET The averages are consolidating at technical levels and at my original measured moves, like the S&P 5650...
Afternoon Update
I have been running through charts for hours trying to sort out both the near term outlook for the market...
Market Update -Still Solid, But Due Consolidation
12:29 PM ET Ever since last Monday’s leading positive 3C chart, the S&P has been up every single day. The...
Afternoon Update
If I had to take a quick guess based on the charts I would think that Amazon does pretty well...
Ongoing Relief Rally
12:05 PM ET Quite a move this morning with strong 3C charts, but we are due a consolidation and probably...
Afternoon Update
The averages are off their lows. SPX (3m) I wouldn’t say they’ve traded out any kind of bullish consolidation today,...
Correction
12:27 PM ET Q1 GDP printed -0.3%, worse than the -0.2% expected and the first negative print since Q1 2022...
Afternoon Update
On the face of things today has been a little bit of a quiet consolidated day with a slight bullish...
Market Update – Slower Consolidation Day, But Still Solid
12:27 PM ET The market opened to mixed action. Most of the averages are fractionally higher while a few are...