Thursday, April 27th, 2017

The earnings season is upon us and we have seen some stellar earnings in many names. Most of the S&P earnings are above estimates in the quarter so far and that is also fueling the upside in stocks. The market seems to be consolidating here after a huge rise last 4 weeks. SPX, RUT and […]

SPX showed up with a distribution day for the first time in this long winning streak. This was the first distribution day and the Technical damages was just barely noticeable. It was like a minor dent on the surface. We just have to see how this overbought market handles Ben Bernankes testimony before Congress on […]

Ben Bernanke spoke after hours not to unsettle traders, but the futures traders reacted overnight while you and I were in lala land and pushed them high enough to gap the market double digits in the morning. This has been the story all along this rapid climb in the last few weeks. Bernanke said that […]

Seen the last last few sessions ? It is always a gap and go. Those gains are not achieved intra-day. Most of the movement is handed down to you. This has been the way this market is going . Friday’s job number boosted today gap and than sideways action all day. It frustrates shorts and […]

Happy 4th of July ! I know most people are on vacation or have been on vacation since Wednesday for this week. The market was closed on July 4th but on this Friday it did open full day and we had a very important monthly unemployment report that came out very strong. The unemployment report […]

Unable to display content. Adobe Flash is required. SPX has been up gapping up and than fading each day. It has not been able to break above the 50 day moving average in the last 2 sessions, and there are 2 topping tails on the charts as you can see. These moves are not very […]