Wednesday, January 17th, 2018

The media becomes ripe with innuendo and speculation once the market starts tanking. They sell the news. There were many people mouthing off 5 % to 8% correction yesterday on major news channels. One thing you need to remember these are opinions- not facts- not anything close to being a market technician and they are […]

This the second time since Thursday the SPX has visited the 50 day moving average. After bouncing off nicely and enjoying the ride based on Fridays unemployment report, basically the market went nowhere and slammed again almost touching the 50 day line. Many other stocks have also touched the 50 day or broke through it. […]

Market uptrend is still intact as you can see in this video. The individual stocks are not in uptrend specially the biggest stock AAPL that dragged the Nasdaq down with it. There were technical and tax reasons and news that blasted a furious move to the downside. The stock opened with a gap and was […]

This is an overbought market that failed to catch the 50 day moving average. The reversal yesterday didn’t extend heavily into the market and it still finished above 1407 the 23.6% Fibonacci retracement levels. The next stop is 1392 the 38.2 % level. Most leading stocks finished where they and down a bit but AAPl […]