Tuesday, January 23rd, 2018

MARKET UPDATE posted 02/11/13 SPX traded in a narrow range and stayed below the highs making a inside day on the charts. Friday was a big day and today all quiet and confined to narrower range. The big candle is overshadowing the smaller candle here. Most of the indexes followed in the same steps and […]

 click to enlarge chart GOOG today touched 774.65 setting an all time high since the company started as an ignored IPO back in 2004 or so. The highs came amid a stellar earnings report last week and the stock has taken the lead as the new Tech leader replacing all time darling AAPL. The strong fundamentals […]

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 […]

Today is the last day of the full week of trading in 2012. The market opened with a big gap to the downside and still has not recovered yet as of this writing 9:00 AM PST. Reason? Fiscal cliff talks have failed to commit both parties to an agreement. Market was disappointed by the lack […]

The two day old rally came to halt and stock took a breather as the comments from White house regarding a veto threat on the GOP proposal dampened the enthusiasm. The market has shown similar behavior whenever something negative is spoken politically about fiscal cliff. Fiscal cliff does not mean that on January I, 2013 […]

Today the market bounced off the 50 day moving average in a nice rally maintaining the previous rally from the bottom reversal of 11/16/12. Fiscal cliff resolution and talks provided enough euphoria of sorts. John Boehner indicated that he is willing to allow tax cuts on wealth individuals who make more than $1million. This sentiment […]

Please click charts to enlarge AAPL reversed here on 505 November 16 2012 and its back here. the stock is under relentless tax related capital gains selling under the perception that Fiscal cliff event would create higher tax rates. What if Fiscal Cliff didn’t happen? Facebook unlocked 156 million shares and first thing they do […]

The market $SPX climbed up over the 50 day moving average comfortably. So did all the indexes in the market. Which makes this move stronger and and solid. The market is still hounded by the Fiscal cliff which can destroy all these advances. This is not a time to be comfortably numb. Staying aware and […]

The market is digesting previous moves still hanging there. There is a lot of talk about head and shoulders pattern on SPX and AAPL and that is what we have discussed here. The pattern is neither complete or convincing at this juncture, when you have it , you will see it. The jobs report is […]

There are bad markets and people lose money and they swear they will never trade. Than when the market gets really really bad, a new trend develops and the new leaders take over. The winter passes and a new day begins. This is what is happening here. The slow down in the economy , high […]