Despite Friday's swoon, the S&P 500 is now up 26% from its October low. That's a new bull market… at least by most traders' standards. Underscoring the argument is the fact that the S&P 500 has also punched through the falling resistance line that steered it lower all of last year. On the other hand, last year was a pretty...
Despite Friday's swoon, the S&P 500 is now up 26% from its October low. That's a new bull market… at least by most traders' standards. Underscoring the argument is the fact that the S&P 500 has also punched through the falling resistance line that steered it lower all of last year. On the other hand, last year was a pretty...
— Snap stock is trying to break out over key resistance. Can it clear this area and roar higher like other growth names? — By Bret Kenwell, TheStreet.com For the first few months of the year, megacap tech stocks like FAANG, Nvidia (NVDA) and Microsoft (MSFT) were the only real leaders. Now, we've seen better price action out of growth...
The market didn't end last week on a high note. But, it doesn't exactly matter. It did so well through the first four trading days of the week that all the indices are now well above key technical ceilings… a concern we voiced on Tuesday when the bullish effort was fizzling out. Although the odds of at least a little...
The market didn't end last week on a high note. But, it doesn't exactly matter. It did so well through the first four trading days of the week that all the indices are now well above key technical ceilings… a concern we voiced on Tuesday when the bullish effort was fizzling out. Although the odds of at least a little...
Stocks defied the odds on Monday, and then again on Tuesday. That is, two of the market's key indices punched through technical ceilings, and then followed through. They got some help, mind you. Inflation continues to cool (more or less), boding well for the economy. The reason doesn't entirely matter though. What matters most is the impact. Thanks to the...
Stocks defied the odds on Monday, and then again on Tuesday. That is, two of the market's key indices punched through technical ceilings, and then followed through. They got some help, mind you. Inflation continues to cool (more or less), boding well for the economy. The reason doesn't entirely matter though. What matters most is the impact. Thanks to the...
— Accenture shares are breaking out and trying to clear last month's high. Here's how far it could run in that scenario. — By Bret Kenwell, TheStreet.com Accenture (ACN) was up nearly 2% at last check, enough to trigger a short-term breakout. Perhaps it's riding the coattails of the Nasdaq. Maybe it's the robust reaction we're seeing in Oracle (ORCL)...
Last week marks the fourth winning week in a row, and the thirteenth winning week of the past eighteen. To this end, the S&P 500 is now up nearly 13% from March's low. It would be misguided, however, to suggest the rally isn't running out of steam. Overall volume is fading, and it's getting tougher for the market to hold...
— The Russell 2000 has been ripping higher while tech stocks roll over. How long will the rotation trade last? — By Bret Kenwell, TheStreet.com Wednesday's trading session was very interesting in that we finally saw some selling pressure in megacap tech and the Nasdaq. Overall, the index sank 1.3% on the day. That decline didn't, however, spread throughout the...
