Looks to me like it wants to go overbought again. I told you guys yesterday it was oversold. Small caps probably rally tomorrow since it's Ponzi Friday, ES and NQ direction will depend on AAPL and AMZN earnings, but I'm stating teh obvious.
Summary: Optimism from positive earnings reports sent the Nasdaq and S&P 500 to a new record close today. However, evening earnings reports from Apple and Amazon may squash some of that optimism. Notes 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=- ...
Summary: Gains by Microsoft and Alphabet weren't enough to lift indexes as it seems everything else sold off today. Volatility in long-term treasuries and gold erased morning gains in equity markets. Notes 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=-...
RTY MFI oversold, not sure if RSI also needs to go oversold, but looks like a pump tomorrow
Summary: Markets opened with a rally on higher than expected Consumer Confidence and New Home Sales data. The rally faded late in the morning, weighed down by Facebook and worries over inflation. Notes 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=- ...
The only index that actually looks bearish, RSI dropping with MFI. Could be a mixed open tomorrow. Tech depends on earnings
Summary: Tesla led major indexes and the Consumer Discretionary sector higher today as it became the newest trillion-dollar company after announcing a 100k car order from Hertz. That sent EV stocks higher and kicked off a big earnings week with fresh optimism. Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView or...
Summary: Despite consistent messages from Fed officials over the last few weeks, it took Jerome Powell's confirmation on bond tapering to finally impact investors. It didn't help that dismal earnings reports from Snap and IBM dampened optimism over the earnings season. Notes Ideas always welcome in the comments. Errors will be amended as comments on...
Small caps getting pumptarded. Target is around 2400 around next Wed, but there's a chance it could get rejected at 2350 resistance. Note that it's close to overbought again, but market doesn't care during a melt up. Not posting any other indices because all I'm gonna show is a melt up.
Summary: Investors continued the bullish rally on positive earnings reports, sending the S&P 500 to a new record close. However, it wasn't all positive, with some companies taking a beating after disappointing results. Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. ...
Summary: Positive earnings reports continue to move markets higher while big tech stocks took a breather for the day. Notes 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, October 20, 2021 Facts: -0.05%, Volume lower, Closing Range:...
Summary: Investors remained bullish on Tuesday as earnings reports start to pick up, and analysts expect positive results. Indexes ticked higher while several sectors traded at record levels. Notes 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=- ...
Summary: Weak GDP data from China wasn't enough to break optimism for investors after last week's surprise Retail Sales data. Indexes started lower but recovered with steady gains throughout the day. Notes 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=-...
Summary: Retail Sales jumped 0.7% in September compared to analysts' expectation for a decline. That gave a massive boost to Consumer Discretionary stocks while the Financial sector topped a week of positive earnings reports with a huge beat from Goldman Sachs. Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView or...
We have bounced off the 200 EMA on the daily chart . We are at support of the 34 ema on the weekly chart. We have had a long period of consolidation now. Corrections can happen with time or price. This has been a correction of time. The candle lows have been making higher lows and have been forming hammers on the daily chart . The higher lows on the daily chart...
Summary: Even today's worst-performing sector gained over one percent, marking a very bullish day with gains broad across the market. The Nasdaq had a 1.4 advance/decline ratio, while the New York Stock Exchange recorded a ratio of 3.6 advancers to decliners. Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView or...
Summary: Investors moved past inflation data to mark a day of gains in the market, but caution was present with defensive sectors outperforming. There were no surprises in the Fed's meeting minutes that confirmed a start to bond purchase tapering in November. Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView or...
Summary: Soaring oil prices, supply chain disruptions, and bond tapering have investors buying up the US dollar while causing downward pressure on mega-caps stocks. Small caps led on Tuesday while big technology stocks declined. Notes I missed yesterday's update. First time in over a year to miss one, but I had a great two-day vacation with my kids. :) ...