Login

Stocks & Equities

Stock Trading Alert: New Short-Term Uptrend Or Just Upward Correction Before Another Leg Down?

Share on Facebook Tweet on Twitter

Posted by Paul Rejczak - Sunshine Profits

on Monday, 13 March 2017 08:01

Briefly: In our opinion, speculative short positions are favored (with stop-loss at 2,410, and profit target at 2,200, S&P 500 index).

Our intraday outlook is bearish, and our short-term outlook is bearish. Our medium-term outlook remains neutral, following S&P 500 index breakout above last year's all-time high:

Intraday outlook (next 24 hours): bearish
Short-term outlook (next 1-2 weeks): bearish
Medium-term outlook (next 1-3 months): neutral
Long-term outlook (next year): neutral

The main U.S. stock market indexes gained between 0.2% and 0.4% on Friday, retracing some of their recent move down, as investors reacted to better-than-expected monthly jobs data release, among others. The S&P 500 index has bounced off support level of 2,350 on Thursday. The broad stock market index remains relatively close to its all-time high of 2,400.98. The Dow Jones Industrial Average closed slightly above 20,900 mark on Friday, and the technology Nasdaq Composite index got closer to the level of 5,900 again. All three major stock market indexes continue to trade relatively close to their early March new record highs. The nearest important level of support of the S&P 500 index is at around 2,350-2,360, marked by previous short-term consolidation and the February 21 daily gap up of 2,351.16-2,354.91. The support level is also at around 2,320. On the other hand, the nearest important level of resistance is at around 2,380, marked by some short-term local highs, and the next resistance level is at 2,390-2,400, marked by all-time high. Will the market extend its year-long medium-term uptrend even further before some more meaningful downward correction? We can see some short-term volatility following four-month-long rally off last year's November low at around 2,100. Is this a topping pattern before downward reversal? The uptrend accelerated on Wednesday, March 1 and it looked like a blow-off top pattern accompanied by some buying frenzy. The S&P 500 index continues to trade above its over year-long medium-term upward trend line, as we can see on the daily chart:

43914 a large



Read more...

Stocks & Equities

Dow Euphoria

Share on Facebook Tweet on Twitter

Posted by Gary Christenson - The Deviant Investor

on Wednesday, 08 March 2017 06:15

excited-trader-326x245Following President Trump’s speech the Dow Jones Industrial Average (Dow) easily broke 21,000, and closed at another all-time high – 21,115.

The Dow closed up for the 12th consecutive day on Monday February 27, another three decade record.

Excel calculated the Dow’s daily Relative Strength Index (RSI – 14 period), a technical timing oscillator. It reached 97.75 (maximum = 100.00) on March 1, an exceptionally “over-bought” reading that has occurred nine times since 1950.

The weekly RSI also reached a very high “over-bought” reading as of March 3, the end of last week.

Margin debt recently registered an all-time high on the NY exchange. Price to earnings ratios have risen into “nosebleed” territory, and the last 1% correction in the S&P was in November – a long time ago. Many other market extremes and highs in confidence indexes are evident.

YES, THE EUPHORIA IS PALPABLE!

The Dow reached new highs the normal way – levitated through the creation of massive unpayable debt and the expectation of huge profits (for traders). Daily sentiment has reached a peak and indicates we are at or near a top. Read Bob Moriarty.

Official national debt is nearly $20 trillion. Regardless, President Trump promised something for everyone:



Read more...

Stocks & Equities

What To Buy If The S&P Shaves 200 Handles?

Share on Facebook Tweet on Twitter

Posted by Individual Trader via Seeking Alpha

on Tuesday, 07 March 2017 09:47

Summary

- I am expecting the market to drop into an intermediate low sometime soon.

- The robo ratio is slowly demonstrating that retail investors are becoming more bullish.

- Investors must only buy quality (or stay in cash) with the market trading at all-time highs.

There probably only is a remote possibility that the S&P 500 (NYSE:SPX) topped out as 2,395 on the 1st of March last week as equities, in my opinion, will remain elevated until the FOMC meeting. 

932120-14887912491106787 origin

 

....continue reading HERE



Stocks & Equities

Stock Trading Alert: Uncertainty Following Recent Run-Up, Will Uptrend Continue?

Share on Facebook Tweet on Twitter

Posted by Paul Rejczak - Sunshine Profits

on Monday, 06 March 2017 08:15

Originally sent to subscribers on March 6, 2017, 6:56 AM.

Briefly: In our opinion, speculative short positions are favored (with stop-loss at 2,410, and profit target at 2,200, S&P 500 index).

Our intraday outlook is bearish, and our short-term outlook is bearish. Our medium-term outlook remains neutral, following S&P 500 index breakout above last year's all-time high:

Intraday outlook (next 24 hours): bearish
Short-term outlook (next 1-2 weeks): bearish
Medium-term outlook (next 1-3 months): neutral
Long-term outlook (next year): neutral

The U.S. stock market indexes were mixed between 0.0% and +0.2% on Friday, as they extended their short-term consolidation following Wednesday's rally after Donald Trump's address to Congress. The S&P 500 index remained relatively close to its new all-time high of 2,400.98. The Dow Jones Industrial Average continued to trade along 21,000 mark on Friday, and the technology Nasdaq Composite index remained close to the level of 5,900. All three major stock market indexes continue to trade close to their new record highs. The nearest important level of support of the S&P 500 index is at around 2,365-2,380, marked by Wednesday's daily gap up of 2,367.79-2,380.13. The next support level is at 2,350-2,355, marked by previous daily gap up of 2,351.16-2,354.91. The support level is also at around 2,320. On the other hand, the nearest important level of resistance is at 2,390-2,400, marked by all-time high. Will the market extend its year-long medium-term uptrend even further before some more meaningful downward correction? We can see some short-term volatility following almost four-month-long rally off last year's November low at around 2,100. Is this a topping pattern before downward reversal? The uptrend accelerated on Wednesday, and it looked like a blow-off top pattern accompanied by some buying frenzy. The S&P 500 index continues to trade above its medium-term upward trend line, as we can see on the daily chart:

1 CBVauWK



Read more...

Stocks & Equities

More Downside Potential in the Gold Stocks

Share on Facebook Tweet on Twitter

Posted by Jordan Roy-Byrne - The Daily Gold

on Saturday, 04 March 2017 09:52

While we expected the gold stocks to correct and test GDX $22 and GDXJ $35, we did not expect it to happen so quickly. It literally took only three days! Gold stocks rebounded on Friday and managed to close the week above those key levels. While gold stocks could bounce or consolidate for a few days, we would advise patience as lower levels could be tested as spring begins. 

The weekly candle charts of GDX and GDXJ are shown below along with their 80-week moving average. For the entire week, GDX and GDXJ declined 8% and nearly 12% respectively. Although miners recovered Friday, the weekly candles signal the kind of selling pressure that do not exactly mark “higher lows” within an uptrend. In other words, while miners could recover for a few days or even a week or two, I would expect lower levels to be tested. That essentially includes the 80-week moving averages and the December lows. 

Mar32017minerswk

GDX & GDXJ Weekly



Read more...
<< Start < Prev 1 2 3 4 5 6 7 8 9 10 Next > End >> Page 10 of 324

Free Subscription Service - sign up today!

Exclusive content sent directly to your Inbox

  • What Mike's Reading

    His top research pick

  • Numbers You Should Know

    Weekly astonishing statistics

  • Quote of the Week

    Wisdom from the World

  • Top 5 Articles

    Most Popular postings

Learn more...



Our Premium Service:
The Inside Edge on Making Money

Latest Update

A Buffet of Buy Recommendations

Notes From Michael - June 28th The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety)...

- posted by Michael Campbell

Michael Campbell Robert Zurrer
Tyler Bollhorn Eric Coffin Jack Crooks Patrick Ceresna
Ozzie Jurock Mark Leibovit Greg Weldon Ryan Irvine