Market Recap, Bulls Favored to Start the Week
A slight pull back today from the markets on lower volume is nothing major. Bulls remain in favor heading into the week. Otherwise not much to report besides some Monster (MNST) drama with Coke (KO) rumored to be considering a buyout. The stock ran up to $84 from $65.50 and closed back down at $65...
Market Recap – S&P 500 Back at 1400, AMZN Beats Earnings, Gold Analysis
Despite a 5th consecutive week of higher than expected initial jobs claims and Exxon's (XOM) miss, the market carried momentum from Wednesday and moved higher. Bespoke posted a good blog today citing the recent drop in bullish sentiment, arguably a contrarian sign for higher prices to come. The last time the reading fell this low...
Market Recap – Apple Earnings Leads Market to its Best Day of The Year
Apple stole the show today, adding nearly 50 points to close at $609.84 (+9.87%). The market gapped higher and never looked back with the NASDAQ having its best day of the year thus far (+2.3%) and the S&P 500 adding 1.36%.
The NASDAQ price action today completed an island reversal pattern. Island reversals occur when a...
Market Recap – Weakness Continues But Apple Jumps After Earnings Beat
Today was a mixed session. While growth stocks took a hit across the board, dragging the NASDAQ to another close in the red (-0.3%), the financials focused S&P 500 closed higher (+0.4%).
On the earnings front, Baidu (BIDU) is tanking after hours thanks to an earnings miss while Apple (AAPL) is up trading back near $600...
Market Recap – Support Falls and Apple Preps For Earnings
The accruing distribution days from the past month have once again confirmed trimming exposure and overall sitting in cash until the market can regain its footing has been the right play. Today both the NASDAQ and the S&P 500 gapped at the open and never recovered. The S&P 500 broke its long term trendline, and...
Market Recap – A Whipsaw Day
The real story of today is the wild price swings that started around 10 AM. Several times the market dropped and took off in response to news. Also note volume was heavy throughout the day, yet ANOTHER distribution day. Based on the price action the last two weeks this market looks poised to fall lower....
Market Recap – Rare Bull and Bear Setups Collide
Today's to-the-point recap from investors.com, "Weighed by losses from tech giants IBM (IBM) and Intel (INTC), the major averages lost ground Wednesday in higher volume than that seen in the prior session. The Dow Jones industrial average fell 0.6%, while the Nasdaq and the S&P 500 each dropped 0.4%."
Original post: Market Recap - Rare...
Market Recap – Markets Jump and Tech Earnings from Intel, IBM Kick Off
Two key takeaways from today:
1. Volume was much lower than average, again. It is a noticeable trend now that down sessions are coming on heavier volume while rebound sessions lack volume. CANSLIM tells us institutions are moving out of the markets and further weakness should be expected.
2. Intraday volatility is on the rise. For the...
Market Recap – Leaders Fail to Lead, NASDAQ Loses 50 MA Support
Today was another rough day for the market as market leaders such as Apple (AAPL) and Priceline (PCLN) sold off and the NASDAQ had yet another distribution day as it closed once again back below its 50 day moving average.
Original post: Market Recap - Leaders Fail to Lead, NASDAQ Loses 50 MA Support
Market Recap with Look at Google Earnings and Rare Apple Divergence
Looking at the latest charts, the S&P 500 and NASDAQ both had no problems today regaining a position back above the 50 day moving average. Furthermore, both indices have now retraced all of Tuesday's fall off. However, while volume is a debatable topic, it is worth noting that today's volume was very low. A look...
Market Recap – Oversold Rebound Begins and Priceline Top?
The market rebounded today after being heavily oversold as highlighted here last night. The headlines are citing Alcoa's (AA) positive earnings as the main driver, but the reality is the market was coming off five straight down sessions in a row and gapped at the open. I'd love to see how many times in history...
Full Market Recap (6 Charts) – Earnings Season Kicks Off with Largest Losses YTD
The market had its first significant down session in quite some time, with the news outlets citing everything from China to Europe to the US debt as the primary cause. First up, a look at the intraday movement...
Original post: Full Market Recap (6 Charts) - Earnings Season Kicks Off with Largest Losses YTD
