Tuesday’s pop above key resistance levels was a bullish signal for the major indexes as there was some follow thru on Wednesday. The bullish action this week has kept the uptrend channels intact and previous resistance will now try to hold as...
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The small-caps were the first index to clear and hold the first layer of resistance following the beginning of the month selloff. This could be an early signal the rest of the market could be bottoming. Key resistance at 35 held on the VIX...
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Although the bears won the shortened week, volatility closed below a key level of support (30) that had served as prior resistance ahead of the three-day selloff from the beginning of the month. A rising VIX is bearish for the market...
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Fed Comments Stall Momentum The first clue the market needed to see this week that a possible near-term bottom could be forming is the easing in volatility. That has failed to materialize. We talked about the bulls likely needing multiple...
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JPMorgan (JPM) announced better-than-expected numbers to start the first-quarter earnings season and provided a much needed lift to the financial sector. The major indexes traded in tighter ranges on Thursday and Friday with key resistance...
Read More The whipsaw action this week has been incredible to watch (and trade) as the bears and bulls try to establish key support and resistance levels ahead of the first-quarter earnings season. Tariff news has been the center of attention but that...
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Wall Street ended the back half of the week in shock as Thursday’s overall 5% plunge in the stock market carried over into Friday’s action that resulted in another 6% pounding. The two-day losses over the tariff news pushed the major indexes...
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