Good evening StockBandits!

The market gapped higher this morning in response to Larry Summers’ withdrawal from consideration as the next Chairman of the FOMC, giving the bulls something they felt was worth celebrating. [Read more…]

Good evening StockBandits!

Last week we saw another market advance as the recovery off the August lows continued with a breakout in the NAZ to new levels not seen since 2000. [Read more…]

Good evening StockBandits!

The market put in a well-deserved day of rest today with some narrow-range bars on the NAZ and RUT to signify some needed digestion of the advance since last week.  The S&P completed its gap fill to 1685 and lifted a few points past that, while the DJIA saw its third straight triple-digit gain to lead the way as it edged closer to 15400. [Read more…]

Good evening StockBandits!

So much for last week’s strength being questionable.  I say that half-sarcastically, of course, because the way in which we rallied was definitely suspect given the weak finishes in 3 of the 4 sessions.  But this week so far we’ve seen nothing but follow through with a trend day yesterday and continued strength today to make a new recovery high.  The S&P rallied to less than 1 point away from the 1685 gap I pointed out last night, while the NAZ added to Monday’s breakout. [Read more…]

Good evening StockBandits!

The market lifted at least a little in every session last week, but as I noted here last night, it just wasn’t happening in a convincing fashion with the weak finishes on 3 of the 4 days.  Today, the strength continued, but in a different way.  We opened strong and added to the gains throughout the session, with the NAZ making a new high in the process.  The S&P reclaimed 1671 and the RUT pushed well past 1036, and even the DJIA cleared its previous minor bounce high. [Read more…]

Good evening StockBandits!

Last week ended with some fireworks as the always anticipated jobs report was quickly overshadowed by tapering talk which was then overshadowed by Putin’s comments on Syria.  Early strength got sold with a gap fill in the opening few minutes and a rapid retreat deep into the red. [Read more…]

Good evening StockBandits!

The market put together a bounce today, and there wasn’t a lot to complain about when it came to how it unfolded. [Read more…]

Good evening StockBandits!

The indexes gapped higher to start the holiday-shortened week based on a lack of action toward Syria.  Each of them were up roughly 1% in the opening minutes of the day, but in every case that marked the high for the session with a very short-lived bounce. [Read more…]

Good evening StockBandits!

Habits can be hard to break, and we see that in the market all the time.  This year, we’ve seen habits of nonstop buying, of dips getting bought, habits of indecision, and now we’re seeing the habit of bounces getting sold. [Read more…]

Good evening StockBandits!

The NAZ tested its range low yesterday and today the RUT made an incremental new low (fraction of a point), but both of them were able to finish green on the session to stop the bleeding – for now. [Read more…]