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Good morning The Fed had all the stars aligned to give investors a Santa Clause rally and unfortunately he failed to deliver. The Feds decision to raise rates and more importantly the tone and direction for the path forward disappointed the street and sent equities lower after they were trading up prior to the announcement. The S&P 500 broke and closed below the 2532 February low which was a big
Read MoreGood morning The near term fate of equities lie in the the hands of one man. The set up is almost exactly how I imagined it may play out. After two wild volatile days in the markets we now have the S&P 500 sitting just a few points away from October lows after testing it once on Monday and again on Tuesday. Fed chair Powell is going to be tested by the markets today as he is set announce the rate hike decision and provide a view of the path forward. There has been a lot of vocal opposition ...
Read MoreHappy Saturday It was another week for the bears as equities continued to struggle with some sectors and indexes officially entering bear territory. Next week could be a very volatile week in both directions. Watch my video below to see why ...
Read MoreGood morning The equity markets have been a chop fest this week which indicates that neither side has enough conviction to take full control. Dips get bought and the rips get sold and while the indexes and sectors remain guilty till proven innocent they may be trying to find the bottom. There is enough geopolitical concern, investor pessimism, inverted yield curve and Fed concern to justify the pullback in equities but at what point will..
Read MoreGood morning Markets held their gains yesterday and we are looking at another slightly positive open this morning. Perceptions that China and the US are making progress on trade issues seems to be giving equities a lift. The messy Brexit concerns seem to be subsided for the moment even though there does not appear ...
Read MoreGood morning Yesterday was a disappointing day as equities opened higher and spent the day fading to close out in the red. We are looking at another gap up day this morning and we will have to see if the action today becomes a repeat of yesterday. The Cannabis space is still one to keep a close eye on as the farm bill is supposedly close to being passed.
Read MoreGood morning Equities started the week off looking like there was going to be real blood in the streets as the fear indicator started rising looking like panic was just around the corned. It was beginning to look like a real capitulation move. Then, we had a reversal mid day and it accelerated into the close with the NASDAQ actually closing green on the day. This action put in what could be considered a nice reversal candle in several indexes..
Read MoreHappy Saturday The market is running out of time to produce that Santa Clause rally that many have been hoping for but in actuality the Santa Clause rally typically happens the last week of December and the first week of January. The problem is even if we have a nice rally that week we may only be getting back some of what have been lost over the last couple of months. Technically we are in a very precarious position in several sectors and indexes. We have death crosses in nearly every sector and we are triple ...
Read MoreGood morning It has been a wild week and we may close out the week with another wild ride. We have several things that could move the markets today with the first being the jobs report being released @ 8:30 ET. Economists and analysts will be looking at the unemployment rate (which is anticipated to remain somewhat flat) and signs of potential wage inflation. If either of those data points surprise ..
Read MoreHey there Pro members I hope you are enjoying your day off. The markets certainly took a big hit on Tuesday and like I said in the blog post last weekend the markets remain guilty till proven innocent. I have something a little different this morning I am going to be putting this article out probably Thursday or Friday morning and wanted to give you all a preview before I do. Hope you enjoy and find it worth your time.
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