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Equities continue to trade in a very tight range and after going through my scans I have discovered a TON of great looking setups for may alert list. There are so many stocks that are consolidating with their perspective sectors and the overall equity indexes. What if the markets continue to consolidate in sideways choppy action? There are stocks out there that have trades sideways for years. Markets can do the same thing. I read a report this week where a Morgan Stanley chief strategist indicated that he thinks the market will be trading sideways with choppy action for the next three years. Now this is just one persons opinion but, if it happens, how will that impact..
Read MoreGood morning We have been chopping around all week with concerns about North Korea talks falling apart, a potential China trade war, NAFTA not meeting the Friday deadline, the rising dollar and energy prices and the Fed being overly aggressive on inflation concerns. However, even with all those concerns, the markets have held up fairly well. Neither bulls or bear are really taking the reins as we chop
Read MoreGood morning Equities are down slightly in pre market while oil is grinding towards 80 dollars a barrel, brent crude just passed 80 earlier this morning. Bond yields also continue to rise, breaking over 3.1 percent as fears of strengthening inflation indicators will lead to a more hawkish fed increasing speculation of 3 more rate hikes this year. The dollar continues to show strength while gold is down slightly in pre market. Technically we continue to consolidate and I found it interesting that Morgan Stanley's Chief equity strategist is suggesting
Read MoreGood morning There may not be an agreement on NAFTA this week, oil is holding over 70 a barrel, North Korea is threatening to cancel the upcoming summit and all of these things could impact..
Read MoreGood morning HD missed earnings but gave decent guidance however it is pulling back in pre market and it carries a heavy DOW weighting which is also down in premarket. We had a failed breakout of the IWM yesterday as it tried to clear the 160 area but could not get any follow through. Energy remains a strong sector and looks like it may continue as oil continues to grind higher. Casino strength could continue from yesterdays announcement on sports betting from SCOTUS allowing states to decide whether on not to make it legal and allow it in their state.
Read MoreGood morning Let me start out by wishing all the fantastic moms out there a wonderful mothers day. Earnings season is winding down and the economic calendar for next week is relatively light on reports or events that could impact the markets. Retail could be a sector that gets some action as we have Home Depot, Macy's, Walmart, and JC penney reporting along with the retail sales report on Tuesday. The other sector that
Read MoreGood morning Biotech and health care could be sectors to keep an eye on today as Trump is set to give a speech on drug pricing later today. We have had a nice week with equities being up over the last 6 trading days. However, there are still caution flags in some sectors and indexes. We have potential price resistance and moving averages to contend with. A pause to refresh may be in order. The strongest sectors have been energy, tech, and small caps. We are testing potential price resistance near all time highs for the IWM and we have a few short term.
Read MoreGood morning Equities and oil are up in premarket with gold and the dollar basically flat. The energy sector could continue to power higher however I am concerned the trade has become too obvious within the investment community. This does not mean we can't or won't power...
Read MoreGood morning Equities are slightly lower this morning with gold and oil also struggling while the dollar is up slightly. Keep an eye on the solar sector if oil continues to climb and be on the lookout for that decision out of California to include solar on future new homes being built. The decision will be announced this week and could provide a catalyst for the space. Oil and energy could
Read MoreThe bulls showed some signs of life on Friday as some indexes reclaimed key moving averages and others found potential areas of price support to bounce from. There is still a lot that needs to happen to feel comfortable that the bulls are back in control. The sell in May and go away theme is being stated repeatedly on the financial news networks and could still weigh on the markets. It will be interesting to see how this week
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