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Good evening StockBandits!
Three out of the big 4 indexes I watch put together a bounce last week as they lifted from their August pullback lows, perhaps setting the stage for a showdown between bulls and bears in the case of the NAZ. [Read more…]
Good evening StockBandits!
The main event today was the scheduled release of the FOMC minutes from the last meeting, and ironically, it produced much greater price volatility than many recent Fed days when the actual policy statement is read. [Read more…]
Good evening StockBandits!
The small-caps have seen the biggest declines from their highs, and today they rebounded the biggest as a bounce finally arrived – for most of the indexes anyway. [Read more…]
Good evening StockBandits!
They say it’s not how you start, it’s how you finish that matters. That applies to pretty much everything, including the market. Today, we saw a much stronger start than finish as the indexes climbed into positive territory before topping out late morning. From there, it was just a steady slide into the red with a finish at the low of the day. [Read more…]
Good evening StockBandits!
Just when it seemed the market might actually stagnate forever, last week rolls in and we finally get a character change. [Read more…]
The major averages saw a change of character last week, taking us out of the 5-week trading ranges which have kept price movement so restricted for much of the summer. Now, all eyes are on the bulls to see whether this wake-up call will prompt them to defend the trend, or if instead it’s the bears’ time to shine.
As we head into a new week of trading, it’s time once again to take a look at the indexes and the key levels they’re dealing with. This will impact how individual names move, so it’s where every new trading week begins.
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Trade Like a Bandit!
Jeff White
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Good evening StockBandits!
The NAZ was facing a potential breakout heading into today’s session, but it failed to materialize as price was rejected from upper resistance. Each of the averages gave up some ground today, with the DJIA actually falling below its multi-week trading range to reach its lowest level since July 11. The others are still holding inside their ranges, and actually are of greater importance than the Dow. Nonetheless, it was another day where the bulls showed an unwillingness to put cash to work and seemed perfectly content to raise a little bit of cash. [Read more…]
Good evening StockBandits!
A minor gap higher this morning was quickly met with selling, sending the NAZ nearly 30 points lower than its early peak in the first hour of the day. A bounce became a reversal, and by the end of the session a modest advance had been posted. That was helped by an intraday spike in AAPL, which resulted from news that Carl Icahn holds a big stake in the company. It’s funny how especially on an otherwise quiet summer day just one company-specific headline can help buoy the market. Elsewhere, the RUT finished in the red while each of the others gained some ground. [Read more…]
