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Market Update: July 14, 2009
Posted on July 14, 2009 | No CommentsThe markets held firm today after yesterday’s rally. Though volume was down across the board, the action is good after yesterday’s rally. The S&P 500 and NASDAQ Composite retook their 20-day SMA and the S&P 500 rose above the neckline it fell below last week. Meanwhile,... -
Market Update: July 13, 2009
Posted on July 13, 2009 | No CommentsThe markets staged an impressive rally, today. The major indices rose from 2.3-2.5% on higher volume. The markets have confirmed a short-term range-bound situation after today’s action. -
Weekly Market Analysis: July 6-10, 2009
Posted on July 12, 2009 | No CommentsThe markets showed resilience through the end of the trading week. Despite an initial breakdown on Monday and Tuesday, the bears were unable to strike down the bulls as the week progressed. The S&P 500 did break the neckline of the head-and-shoulders pattern, but found... -
Market Update: July 9, 2009
Posted on July 9, 2009 | No CommentsThe stock market continues to show indecision as the major indices closed only fractionally higher today. All major indices closed up, but we continue to be in a wait-and-see pattern to determine the market trend. -
Market Update: July 8, 2009
Posted on July 8, 2009 | No CommentsThe markets staged a late day rally, today. The DJIA and the Nasdaq Composite closed higher, today… albeit only slightly. The S&P 500 tried, but was unable to close to the upside. Despite today’s action, there is no significant change to the near-term outlook. -
Market Update: July 7, 2009
Posted on July 7, 2009 | No CommentsThe S&P 500 failed to follow through on yesterday’s hammer candlestick pattern. The SPX fell, today, on higher volume. However, the S&P was able to hold key support around 879. A close below 879 on higher volume would confirm a breakout from the recent trading...