9:00am (EST) We mentioned Monday could be flat as Wall Street waffled on what Fed Chair Janet Yellen might say today. To no surprise, the indexes finished right at the resistance targets we outlined and bets will be made today on where the market heads from here. (continued…) **************** Our
Bulls Stall at Resistance
Blue-Chips Get a Facelift/ Profit Alert (QQQ)!!!
12:10pm (EST) Out with the old, in with the new. The Dow Jones Industrial Average is made up of 30 stocks. From time-to-time, stocks are dropped and others added to make up 30 “blue-chips” companies. Today’s announcement in a 3-swap deal kicks Alcoa (AA, $8.07, down $0.02), Bank of America
Bears Say Not so Fast
1:05pm (EST) Futures were slightly weak as we hit the rack last night ahead of the European open suggesting a lower open this morning but had recovered ahead of this morning’s Nonfarm Payroll report. Wall Street certainly traded off the headlines as the Unemployment Rate dropped to 7.3% from 7.4%
Fed Speak Propping Market
12:40pm (EST) Our charts from last night were showing more upside potential following last week’s break out of the “symmetrical triangles” and the test to the 100-day MA’s (moving averages). Strong moves out of these technical patterns to the upside or downside usually lead to back tests and that is
Terrific Tuesday’s Continue to Save Bulls
11:50am (EST) The market is enjoying its best –day gains since the beginning of the year as all of the major averages are showing strong gains. We mentioned last week the suit-and-ties that decided to take an extended vacation could miss another ride to the upside and today’s start has
Bulls Looking to End January Strong/ New Trade Alert!
9:00am (EST) “The market was flat on Friday with a little weakness to the downside heading into the second half of trading. This was normal behavior following the pop past resistance but there was a big development midday that gave the bulls a second wind. There are reports the Red
Boeing (BA) Takes Another Dive but Recovers/ NEW TRADE!!!
12:40pm (EST) Usually, when there’s smoke there’s fire and after a number of warning signals, the FAA (Federal Aviation Administration) stepped-in and grounded Boeing’s (BA, $74.31, down $0.03) 787 Dreamliners. The company must prove to the FAA that the lithium batteries they use in the aircraft are safe before they
Flat Action Favors Bulls
12:40pm (EST) The Dow started the month at 13,096 and the week at 13,009. The S&P was at 1,412 and 1,409 to start November and the week. The Nasdaq ended October at 2,977 while starting the week at 2,966. Currently the Dow is down 15 points to 13,006 while the
Bulls Looking Weak
9:00am(EST) It appears the 4-week trading range the market has been in is ready to crack but it hasn’t been wise to count the bulls out as the dips have held all year long. However, this time feels a little different. The Dow plummeted 128 points, or 0.95%, to end
Market at Support, Bernanke on Deck
9:00am (EST) The market closed right at support like we figured heading into today’s big event. We are pretty sure Ben Bernanke checked yesterday’s closes on the indexes so he is well aware what his carefully chosen words could mean for the market. The Dow dropped 107 points, or 0.8%,