Daily Wrap – Consolidation, But Not Complacency
Beyond the initial election knee-jerk reaction, we’re starting to see the enthusiasm cool and investors starting to ask more questions...
Afternoon Update – Consolidation in Effect, Should Continue Tomorrow
Heading into the close, we’re getting some better fleshed out consolidations with Treasuries near session lows. I’d still favor giving...
Semiconductor (SOX) Update
2:36 p.m. ET As I wrote in last Wednesday’s Semiconductors (SOX) Testing 200-day in talking about my 3 favorite places...
Market Update – Consolidative So Far
1:30 p.m. ET Other than 1-day oversold internals on Friday and the modestly more positive shift in short-term 3C charts...
URA Bull Flag Breaking Out
1137 p.m. ET I updated URA in which it tested resistance — an important next step resistance level, but not...
Gold Testing Above $2600
Gold’s $2600 was and still is a key level of potential support. Price is trading above $2600 ($2618) and early...
Early Update – Early Look At Consolidation
1025 a.m. ET It’s way too early in the session to draw anything definitive from so little price action, but...
A.M. Update
S&P futures are futures up +0.1%, contracts linked to the Dow are down -0.1%, while Nadaq-100 and Russell 2000 are...
Weekend Stock Market Video Update
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Afternoon Update
Nothing much has changed from this morning, except the rate of change of decline slowed while making lower lows. Unless...
Not a Flag
1135 a.m. ET The New York Fed Empire State Manufacturing Survey for November checked in at 31.2 , blowing away...
A.M. Update
S&P futures are down -0.6%, troubled by Powell’s comments and higher rates. The 10-yr yield is up three basis points...
Daily Wrap – Powell Throws Cold Water on the Market’s Enthusiasm
While PPI came in pretty much at consensus, a deeper dive revealed that the last mile is often the hardest...
Afternoon Update: More Confirmation of Consolidation Trend Lines
The averages are trading near session lows. SPX -0.6%, Dow -0.5%, Transports -0.6%, NDX- 0.7%, Small Caps -1.3% While not...
Early Update – Consistent With Consolidation
11:37 a.m. ET The October Producer Price Index reflected rising inflation at the wholesale level. That will stir concerns about...
Daily Wrap: Knee-Jerk Reaction Facing Consolidation
It took a little more time than usual this morning to see what the impact of CPI was. I didn’t...
Afternoon Update
Price candles showing a loss of momentum for the near week-long knee jerk reaction to the election have shown fading...
Semiconductors (SOX) Testing 200-Day
2:51 pm ETSOX (daily) w/ 200-day sma. To pivot down from the right shoulder with some confidence, I’d estimate SOX...
Consolidation Time, Or?
1:41 p.m. ET This morning’s CPI report was pretty much on the screws of expectations, except airfares and rental inflation...