Last weekend, in my Market Forecast, I wrote:
"For the new week, this week is still range-bound with a bearish bias. The longer the market hangs below SPX 1080, the more likely we’ll see SPX test 1040 soon again. However, if the market rises above 1100, we’ll likely see a new bullish formation in SPX’s daily […]
By HappyTrading
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Also posted in GS, OIH, GLD, XLF, USO, MA, FSLR, TSL, DO, RIG, YGE, V, APC
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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, CLF, BTU, PAAS, WLT, NEM
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Last weekend, in my Market Forecast, I wrote:
"For the new week, the market is definitely struggling to bounce from May’s slump. However, Europe’s financial problems may be worse than that of the US, as China’s Premier warned of a possible double-dip in the global economy’s attempt to recover. Charts are certainly showing the same concerns. […]
By HappyTrading
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Also posted in GOOG, OIH, GLD, XME, PCLN, X, NOV, INX2, AMZN, DO, RIG, HAL, JOYG, BUCY, BP
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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, HAL, CLF, UPL, APA, BTU, 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, APOL, CLF, APA, BTU, ACI, CNX, WLT, BP, APC, BHI
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First of all, happy Memorial Day!
Last weekend, in my Market Forecast, I said:
"For the new week, we’ll have to see how much momentum the bounce on Friday has to carry through. SPX 1110, 1120, and its 10-day MA should provide resistances. The daily MAs of SPX and Nasdaq are well into their new bearish formation. […]
By HappyTrading
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Also posted in gold, OIH, SOXX, GLD, XME, DO, RIG, HAL, CLF, WLT, BP, BHI
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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 said:
"For the new week, things get a bit tricky. While earnings are still expected to be strong, the anxiety over possible financial reforms can cast a shadow on the market, especially over the financial sector… I think we’ll see some follow-through weakness on Monday. In general, I’d expect […]
By HappyTrading
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Also posted in GLD, XME, HES, NOV, CLF, DVN, UPL, APA, BTU, ACI, ANR, PCX, XLE, UUP, OXY, WLT, BHI
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The market was very strong today, led by the energy stocks. Oil bounced today and oil services stocks beckoned inverstors back in. RIG added +4.24%, with an additional news of a successful trading debut on the Swiss Exchange. SLB was up +4%; DO bounced +3.88%; and, NOV rose +3.53%. It does look like this sector […]
In my Market Forecast (click here) this weekend, I said,
"Many tech and financial leaders could use a breather. On Tuesday, we have the FOMC meeting. The market may act undecidedly ahead of the meeting. If the market slips ahead of Fed’s rate decisions but manages to keep close to SPX 1150, we could get another bump higher…"
Indeed, […]
![[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)
