It wasn't much of a win, for the day or for the week. Nevertheless, the market's small gain on Friday was just enough to get at least one key index over a major technical hump following a week's worth of slow, painstaking progress. We're still battling the calendar; this is supposed to be a lethargic (if not bearish) time of year. There's also the not-so-small matter of stocks being well overbought thanks to last year's enormous runup. The momentum remains bullish though, and there's more room to keep rising before we bump into any technical ceilings. We'll look at the whole thing in detail below. Before we get to it though, let's take a look at last week's major economic reports and preview what's coming this week. Spoiler alert: There's plenty in the lineup that could move the market. Economic Data Analysis We saw a fair amount of economic data… more
By Keris Lahiff, CNBC The S&P 500 came frustratingly close to a record high but failed to cross that hurdle. Still, several stocks have managed to make new highs this week, including ADP, Target, eBay, T-Mobile and Nvidia. Todd Gordon, founder of TradingAnalysis.com, told CNBC on Wednesday that one of those stocks should continue its hot streak on the back... more
Will it, or won't it? The S&P 500 tested a key technical ceiling on Thursday, and for a brief period was even at an all-time record. The bulls backed off just a bit, however, to leave the index right at that make-or-break line without actually moving above it. On the other hand, the lull wasn't nearly enough to call it... more
By Keris Lahiff, CNBC Emerging markets have been underperforming the S&P 500 this year, but Oppenheimer's Ari Wald sees a bullish development that stretches back to 2007. "The key point to our view here is that equity markets are broadening on a global scale," Oppenheimer's head of technical analysis told CNBC's "Trading Nation" on Monday. "We have the U.S. still... more
— Stitch Fix is rallying on earnings but there are some concerns on the chart that need to be resolved. Here's what to watch now. — By Bret Kenwell, TheStreet.com Stitch Fix (SFIX) is enjoying its day in the sun, up 12% on Tuesday after reporting earnings. While shares are off the session high, Stitch Fix stock is set for... more
Another week, another win. As was the case with the previous week's gain, however, last week's advance was minimal. Maybe it's the summer lull. Maybe traders are simply unconvinced that companies justify higher prices with their current valuations. Maybe it's a little both. Either way, last week's small win was bigger than the S&P 500's 0.6% gain would imply. That's... more
By Keris Lahiff, CNBC Tesla is under pressure again this week, but TradingAnalysis.com founder Todd Gordon says that spells opportunity for savvy investors to build out a position. Speaking with CNBC's "Trading Nation" on Thursday, he said the long-term prospects for Tesla look strong and he predicted that CEO Elon Musk's electric vehicle maker will marry with his space exploration... more
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