Tuesday, January 23rd, 2018

MARKET UPDATE posted 03/13/12 Unable to display content. Adobe Flash is required. The stock market keeps inching higher on good economic data. Today the retail sales came in very good and it helped the weak market back to close near new highs. This market is now entering a zone of unchartered territory. The 2007 highs […]

The market dropped at the open on Sequestration fears and the usual media hype built around it. The opening once again shook the tree. But soon afterwards ISM manufacturing data poured in and it was a strong report and SPX managed to pare back most of the morning losses. In looking this whole week it […]

After grinding higher day after day which seemed like eternity, the SPX finally broke down and closed just above the 21 day moving average. This  rally has been six weeks old since the start of 2013 and there has been  no rest in between. This was not an unexpected move. You probably knew it would […]

Relentless is the word. This market is relentless in the pursuit of higher ground. Right after the President’s day SPX makes new highs at 1530. It is a tough tape. You cannot short it because it comes back and its hard taking longs because its filled with fear and caution. These markets can stay that […]

Today we some cracks in the market rally that has been grinding SPX higher since 2013. All major indexes finished lower towards the close of the day. First the GDP came in lower than expected and the US economy shrank 0.1 % for the first time in 3.5 years. This set a level of discomfort […]

SPX has been grinding higher every day for the past 8 sessions and today the rally took a breather. All the moving averages are rising. The market is overbought and the flat sideways motion may be coming. Until we pullback to 10 day or 21 day moving averages the rally is still intact. Good earnings […]

The year 2013 came in with bang! After a fearful era of post election blues and Fiscal cliff which ultimately ended peacefully and we are still alive and together as a country- the market had to show some kind of enthusiasm and it did on January 2, 2013 with big gap to the upside. Unfortunately […]

The much hyped marketed  IPO of Social Media Website just started trading few minutes ago. The hype was so much that crowds were gathering outside Times Square in New York and elsewhere. Big blasting neon signs. There was a small crowd here with me as I am on the Iphone with a trader friend of […]