Last weekend, in my Market Forecast, I wrote,
"For the new week, on Monday morning, we’ll get the latest ISM and construction spending data. For both SPX and Nasdaq, the daily MAs of are moving into a new bullish phase. To break higher, SPX will have to break above 1120. For Nasdaq, the resistance is at 2300."
Right off […]
By HappyTrading
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Also posted in GS, POT, JPM, GLD, XLF, XME, MOS, CF, AGU, MOO, ACI, ANR, MEE, XLE, WFC, BAC, AIG, WLT
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Yesterday, the market eked out a small gain, ahead of IBM and TXN’s earnings. Then, both IBM and TXN disappointed investors with their quarterly reports. Today, the market open gapped down, but, started to bounce almost immediately. Both BTU and STLD delivered solid earnings and commodity sectors soon bounced strongly. Miners did especially well: CLF […]
By HappyTrading
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Also posted in IBM, AAPL, FFIV, FCX, X, QCOM, BRCM, VMW, SNDK, TXN, NFLX, SBUX, CLF, STLD, WFC, WLT, CRUS
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Last night, Chinese stock market’s Shanghai SE Composite Index dropped more than 100 points, or more than 4%. This morning, the US market followed the bearish sentiment, gapping lower. US consumer confidence index fell 10 points in June, the biggest fall since February. The selling continued throughout the day and the market pretty much ended […]
Last weekend, in my Market Forecast, I wrote:
"For the new week, things may be a bit tricky. First of all, it’s options expiration week, so some "maneuvers" are to be expected. The market is definitely trying to draw a bottom. But, after charging higher 2 days in a row, we may see some indecisiveness on […]
By HappyTrading
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Also posted in gold, OIH, GLD, XME, USO, BHP, DO, RIG, SLB, CLF, PAAS, WLT, NEM
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As discussed in my Market Forecast this weekend, I was looking for more selling pressure to test SPX 1040. The market was weak in the morning and sank as low as SPX 1042.17. Techs were especially weak today. However, the miners drew some buyers back in and stayed strong most of the day: CLF +4.42%, […]
By HappyTrading
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Also posted in FCX, GLD, BHP, DO, RIG, CLF, DVN, APA, OXY, BP, EOG, IOC
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This morning, the latest home sales data came in better than expected. Stocks saw strength right from the start. Energy stocks bounced: SLB +8.81%, HAL +11.96%, APA +4.24%, UPL +10.34%, EOG +6.86%. Coal stocks also attracted buyers back in: WLT +6.13%, CLF +5.95%, PCX +8.95%, BTU +7.65%. The exchanges were very strong as well. Both […]
By HappyTrading
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Also posted in AKAM, FFIV, ICE, CREE, CME, SNDK, RIG, SLB, HAL, CLF, UPL, APA, PCX, WLT, BP, EOG
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Over the Memorial Day Weekend, BP had failed to stop the oil leak in the Gulf of Mexico. Out of the gate, the oil services sector gapped lower. Further, the government announced criminal and civil investigations into the oil spill. BP stock tumbled 14.97%! Other oil services companies took a hit as well: RIG -11.85%, DO […]
By HappyTrading
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Also posted in AAPL, AMGN, DO, RIG, SLB, APOL, CLF, APA, ACI, CNX, WLT, BP, APC, BHI
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The market jumped out of the gate today on China’s show of confidence in European debt even though the lastest jobs report may not have been inspiring. Investors rushed back in to pick up tech stocks, sending Nasdaq roaring up +81.8 points and into the green for 2010. GOOG added $15 to close above $490. […]
By HappyTrading
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Also posted in GOOG, AAPL, RIMM, FFIV, BIDU, BRCM, AMZN, SNDK, APOL, CLF, ACI, ESI, TLT, WLT
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The market gapped lower this morning and touched a new 6-month low. The Dow briefly slumped below 9,800, while SPX almost touched 1040. But, the market staged an impressive rally to close just about flat. GS led the financials with a +4.29% gain, closing above the $140 level.
The beaten-down commodity sectors led the bounce. Oil […]
Last weekend, in my Market Forecast, I wrote:
"For the new week, the market is in a very vulnerable position. The bounce last week took to the market to test the 10-day MA. But, with a quick reversal, it closed under the 10-day MA again. Further, both SPX and Nasdaq are showing newly developed bearish formations […]
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_6.gif)
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_6.gif)
