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Stock Trading Alert: Stocks Get Close To Record High Again As Fed Hikes Interest Rates

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Posted by Paul Rejczak - Sunshine Profits

on Thursday, 16 March 2017 10:01

Sent to subscribers on March 16, 2017, 6:55 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 gained between 0.5% and 0.8% on Wednesday, breaking above their recent consolidation, as investors reacted to the FOMC's Rate Decision announcement. The S&P 500 index has bounced off support level of 2,350-2,360 on Tuesday. It accelerated its short-term uptrend yesterday and got closer to March 1 all-time high of 2,400.98. The Dow Jones Industrial Average has managed to close above 20,900 mark, and the technology Nasdaq Composite index has got close to its record high above 5,900 mark. 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 2,370-2,375, marked by recent local highs. The next support level remains at 2,350-2,360, marked by local lows 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 2,390-2,400, 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 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:

1



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Stocks & Equities

A Whole Lot Of Pain Is Coming

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Posted by Bill Fleckenstein via King World News

on Wednesday, 15 March 2017 07:07

King-World-News-Legend-Warns-Were-Entering-The-Most-Dangerous-Phase-Of-The-Worst-Crisis-In-World-History-864x400 c"Today’s headline refers to the fact that, really for the first time since the Trump rally began, it actually feels like the market may have achieved exhaustion."

"I would at least bring up the point because if I’m right we will see some weakness, followed by a failing rally, followed by a whole lot of pain…"

'Let’s Get Straight To the Points"

....read the entire article HERE

...also from King World:

James Turk – What Is Happening In The Gold & Silver Markets Right Now Is Extremely Rare



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Stocks & Equities

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

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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



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Stocks & Equities

Dow Euphoria

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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:



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Stocks & Equities

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

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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. 

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....continue reading HERE



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