Summary: The day started by honoring the expectation we had of a move higher, but a mid-day reversal busted that expectation, erasing the gains and sending prices plummeting. The reason was obvious. News broke that Biden would propose a huge increase in capital gains tax. So we'll look closely at the impact and what we might expect from here. Notes Ideas...
Summary: The gains were broad across segments and sectors today, pivoting the indexes to the upside after a few days of declines. The only thing that was missing is higher volume that would indicate more institutional support in the gains. We'll take what we got for now and then keep a close eye in the days to come. Notes Ideas always welcome in the comments....
Summary: The market continued to pull back for another day as investors begin to absorb more earnings reports. Those results and the guidance not only impact to their respective stock prices but also indicate what parts of the economy are recovering faster or slower. Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView...
Summary: After closing last week at record highs, it's reasonable that the equity markets pull back a bit before advancing again. That pull back came abruptly as the session opened in the morning but the markets found some support heading into the afternoon. Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView or...
Summary: The indexes set more records on Friday, with the Dow Jones Industrial and S&P 500 closing at new all-time highs again. That gains initially came at open after positive building data drove the materials sector to the top of the sector list. It was not a straight line. The market dipped in the morning and the indexes needed to climb back to close near...
Summary: Positive economic data gave a kick in the right direction to equity markets, allowing the S&P 500 and Dow Jones Industrial average to close again at all-time highs. The day was owned by the bulls with just a few pullbacks, but still the gains were not felt by everyone, with more stocks declining than advancing. Notes The private indicator I use to...
Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wednesday, April 14, 2021 Facts: -0.99%, Volume lower, Closing range: 10%, Body: 75% Good: Higher high, pullback is on lower volume Bad: Selling almost entire day, couldn't hold above 14,000 Highs/Lows:...
Trend lines drawn from the 3/5 low (25d), 4/5 (5d) and today 4/9 (1d). Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Tuesday, April 13, 2021 Facts: +1.05%, Volume lower, Closing range: 86%, Body: 89% (w/gap) Good: Higher high, higher low, large...
Trend lines drawn from the 3/5 low (25d), 4/5 (5d) and today 4/9 (1d). Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Monday, April 12, 2021 Facts: -0.36%, Volume higher, Closing range: 71%, Body: -5% Good: Higher low than previous day, high closing...
Trend lines drawn from the 3/5 low (25d), 4/5 (5d) and today 4/9 (1d). Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Friday, April 9, 2021 Facts: +0.51%, Volume lower, Closing range: 97%, Body: +72% Good: Never revisited morning low, bullish buying...
Trend lines drawn from the 3/5 low (24d), 4/1 (5d) and today 4/8 (1d). Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Thursday, April 8, 2021 Facts: +1.03%, Volume higher, Closing range: 99%, Body: +45% Good: Gains all-day with few pullbacks, high...
Trend lines drawn from the 3/5 low (23d), 3/31 (5d) and today 4/7 (1d). Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wednesday, April 7, 2021 Facts: -0.07%, Volume lower, Closing range: 44%, Body: +17% Good: Stayed near 13,700 support, lower...
Trend lines drawn from the 3/5 low (22d), 3/30 (5d) and today 4/6 (1d). Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Tuesday, April 6, 2021 Facts: -0.05%, Volume lower, Closing range: 24%, Body: +16% Good: Higher high, higher low, held support...
Trend lines drawn from the 3/5 low (21d), 3/29 (5d) and today 4/5 (1d). Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Monday, April 5, 2021 Facts: +1.67%, Volume lower, Closing range: 94% (w/Gap), Body: +80% Good: Three positive days in a row,...
Trend lines drawn from the 3/5 low (20d), 3/26 (5d) and today 4/1 (1d). Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Thursday, April 1, 2021 Facts: +1.76%, Volume lower, Closing range: 96% (w/ Gap), Body: +79% Good: Rally above and stayed above...
Trend lines drawn from the 3/5 low (19d), 3/25 (5d) and today 3/31 (1d). Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wednesday, March 31, 2021 Facts: +1.54%, Volume higher, Closing range: 62%, Body: +60% Good: Higher high, lower low, back above...
Trend lines drawn from the 3/5 low (17d), 3/24 (5d) and today 3/30 (1d). Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Tuesday, March 30, 2021 Facts: -0.11%, Volume lower, Closing range: 80%, Body: +24% Good: Closing range of 80%, recovered from...
Trend lines drawn from the 3/5 low (17d), 3/23 (5d) and today 3/29 (1d). Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Monday, March 29, 2021 Facts: -0.6%, Volume lower, Closing range: 52%, Body: -25% Good: Inside day on lower volume with a...