Good evening StockBandits!

Last night I discussed the NAZ in particular as suspect when it came to more upside until we got at test of 3966.  We had a light-volume bounce yesterday, and it just appeared as though we’d have to get down to test and validate the big level which had served as both resistance and support going back to last October.  Today we got that test [Read more…]

Good evening StockBandits!

Early strength in the futures markets propped up prices this morning for an upside gap at the open [Read more…]

Good evening StockBandits!

If April showers bring May flowers, then it’s shaping up to be one heck of a garden next month because right now it’s raining stocks [Read more…]

Good evening StockBandits!

The bulls produced follow through on the heels of Tuesday’s relief rally, which was exactly what they needed to do.  Not only did we see follow through, but we saw greater strength today than in yesterday’s session in terms of net gains.  The wider participation of today’s lift puts added distance between prices and the lows from Monday, which could help on the next dip when those same bulls are hoping for a higher low.

What’s potentially problematic though, is [Read more…]

Good evening StockBandits!

Turnaround Tuesday arrived today with some upside for the market on the heels of the quick selloff from last week’s highs.  The bulls were happy to stop the bleeding, although the strength was relatively modest as only a small fraction of Monday’s decline was recovered [Read more…]

Good evening StockBandits!

The runup from the February low was downright impressive.  The market ramped quickly with persistent strength and several gaps were formed along the way.  But anytime price goes too far, too fast, backing and filling becomes necessary.  That seems to be exactly what we’re seeing here.  Some may blame it on the Fed or the economy or earnings expectations, but from the technical side when price retraces a move it’s called backing and filling.  Prices are doing just that right now – backing up and filling in some of those old voids [Read more…]

Good evening StockBandits!

Two weeks ago, the market had become a bit short-term extended on the downside and subsequently began to bounce [Read more…]

Good evening StockBandits!

The indexes each registered modest gains today, which technically counts as some follow through to Tuesday’s incremental breakout on the S&P [Read more…]

Good evening StockBandits!

The bears found it no joke today that the S&P made new all-time highs [Read more…]

Good evening StockBandits!

The first quarter came to a close today, and it was an appropriate ending with one last cross of the flat line for a couple of the indexes. [Read more…]