In the grand scheme of things it can't be too terribly surprising. After all, it is the dog days of summer. Traders aren't terribly interested, and somewhat distracted by all the other things that require attention as August starts to molt into September. It would be surprising if the market was throwing out serious fireworks. All the same, between Wednesday's action and Thursday's action, if you were hoping the market collective would tip its hand as to its true undertow, you've got to be disappointed in little conviction traders have here... in either direction. Yes, the third reversal in three days is a clue to that end, though not necessarily the big one we want to focus on. Arguably more important is the shape of Wednesday's bar for the S&P 500, and the subsequent shape of Thursday's bar for the index. That's what the image below is - a daily… more
By Stephanie Landsman, CNBC Wells Fargo Securities has a new message for investors: Hold on tight. Christopher Harvey, the firm's head of equity strategy, believes the Turkey debt crisis will spark a crisis of confidence in the United States as earnings season winds down, and headline risks become front and center again. "You can start to have a lot more... more
By Jeff Cox, CNBC Professional investors have suddenly turned optimistic about U.S. stocks again, with bullish sentiment fed by an especially buoyant earnings season that is offsetting other concerns. Domestic equities are holding the biggest portfolio weight since January 2015, according to the August Bank of America Merrill Lynch Fund Managers Survey, a look at where 243 pros who manage... more
Recently, the Solar Energy sector has popped up on our watch-list of potential sectors to pay attention to. Over the past few weeks, the Solar Energy sector has been under some pricing pressure and has retraced nearly 50% of the previous trend across the sector. We, the research team at Technical Traders Ltd. understand the Trade War and uncertainty resulting... more
Stocks were due for a breather. Last week they finally got it. Of course, in this unusual environment that dishes out extremes (and often unfettered) rallies and pullbacks, last week's weakness also poses the distinct possibility that a much bigger correction is now underway. The market did, after all, bump into a well-established ceiling. On the other hand, Friday's tumble... more
In retrospect, one can help but wonder if the recent bullishness only took shape because traders felt there was no other alternative. Some of the broad market's underlying barometers certainly suggest this is the case. What script? The daily chart of the S&P 500 below spells it out pretty plainly, in pictures. A key resistance line – the one that's... more
PART I – US Markets Higher Until November 2018 Our research team at Technical Traders Ltd. have been laboring over the recent market moves attempting to identify if and when the market may be likely to turn lower or contract. We've been pouring over all types of various data from numerous sources and have concluded the following is the most... more
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