Stocks

Stocks suffered another loss last week… albeit a small one. And, depending the index, no serious damage was done. Moreover, in the one case where a key floor did finally start to break, several more are still below, waiting to stop the bleeding. And it all may mean nothing anyway. Friday was an option expiration day, forcing a lot of artificial trading activity. Much of it leaned bearishly, but that pressure may not exist as the new trading week kicks off. Still, regardless of the reason a hole was poked in the boat, there’s now a hole in the boat. Water could start leaking in. We’ll look at the situation below in a moment. Let’s first work through last week’s biggest economic announcements and preview what’s coming this week. Economic Data Analysis This week’s highlight is of course February’s inflation data. It’s still with us. It’s not horrific. In fact,… more


Friday’s jobs report eventually tipped the stock market back into the red for the week. Or, maybe that wasn’t the reason, but rather, just the trigger. Perhaps stocks were going to peak and pull back on Friday either way. All it took was a kiss of a couple of well-established technical ceilings to get the ball rolling. The good news?... more

Despite the rocky start to the week, the bulls finally got on… well, got on their horses to push the market to yet-another new high. Perhaps more important, the NASDAQ Composite finally punched through a major technical ceiling that frees it up to keep moving higher. And yet, both of the indices are once again testing other resistance lines. That’s... more

Stocks bounced back from the setback a week earlier. But, the advance was less than ideal. The S&P 500 slowed down late in the week when a well-established technical ceiling was tested again. That doesn’t mean the bigger-picture advance is done. In fact, the S&P 500 is trapped nicely between rising support and resistance lines. That’s bullish to be sure.... more

We warned you a week ago that stocks had rallied too far, too fast. Last week they paid the price. The S&P 500 lost 0.4% of its value over the course of the prior five trading days. That’s not a lot. In fact, the market reclaimed much of what it had last on Tuesday following an alarming inflation report (more... more

That’s five in a row. With last week’s 1.4% advance, the S&P 500 is up 7.0% for the five-week stretch. The market is just rolling. On the other hand, with last week’s romp the index is now bumping into pretty-well-established technical resistance. It’s going to take something pretty special “umph” to keep things going. That’s even more the case in... more

Not every day was a winner last week. In fact, Wednesday was a decided loser after traders panicked over the Fed’s decision to dial back its dovishness. (That is to say, a spate of interest rate cuts isn’t a foregone conclusion.) Once they had a chance to regroup though, Thursday’s and Friday’s buying carried to the S&P 500 to yet-another... more

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