Pullback Continues

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Posted on July 8, 2014 at 8:43 pm
We wondered last night if yesterday’s poor action in small-caps was a hint that we might be in store for some further consolidation, and that turned out to be the case today. We gapped lower at the start of the session, and spent the rest of the morning moving...

Rug-Pull

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Posted on April 10, 2014 at 8:10 pm
After two days of a solid bounce off key support levels, the bulls has the rug pulled out from under their feet today. Despite a much better than expected reading on initial jobless claims (or maybe because of it), we started the day off on the weak side, and...

Another Strong Close

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Posted on April 3, 2014 at 7:45 am
After Tuesday’s return to highs for the S&P 500, the action was rather subdued for much of today’s session. The indices spent most of the day above the flat-line, but the action in the morning was rather subdued, as market players didn’t seem too interested in chasing some big...

S&P 500 Hits All-Time Highs… Again

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Posted on April 1, 2014 at 11:04 pm
Although there wasn’t much fanfare and, like yesterday, we spent the lion’s share of the session in a narrow range, the market finally showed some improvement today. While the gains over the past couple of days were decent, they came on the heels of continued rotation into safer havens....

Separating the Wheat from the Chafe

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Posted on March 13, 2014 at 8:56 pm
After a few days of choppy action but without any real signs of selling, the market finally showed some signs of stress today. Stocks got off to a pretty good start to the session, with better than expected readings on retail sales and initial claims providing a bit of...

Dip Buyers Still a Force

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Posted on March 12, 2014 at 8:13 pm
After Tuesday’s weakness, stocks were able to avoid an immediate downside follow-through, recovering from a poor start to end the day in mixed territory. While there wasn’t anything really specific to account for it (more of the commentary revolved around a slowing Chinese economy and the recent plunge in...

Impressive Action, but We Ain’t Out of the Woods Yet

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Posted on February 13, 2014 at 10:26 pm
After taking a brief rest yesterday, the troops were back on their horse Friday, gaining back yet another chunk of ground lost late in January. What was most impressive about the action today however, was the speed with which the dip buyers made their presence known. One of the...

Bounce Continues, but Possible Head-and-Shoulders Takes Shape

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Posted on February 11, 2014 at 7:59 pm
We mentioned yesterday that the market was able to make some good progress recently, but that resistance loomed large, particularly with the senior indices, which had yet to do much beyond shake off some short-term oversold conditions. That changed, however, on Tuesday as the bulls put together a solid...

Stock Continue to Bounce Towards Resistance

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Posted on February 10, 2014 at 10:03 pm
Stocks continued to bounce for the third day in a row, but the action was much more subdued than it was into the end of last week. There wasn’t much movement at all in between the bells as far as the indices go, but the dip buyers did get...

Nasdaq and Russell Continue to Lead the Action

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Posted on January 22, 2014 at 10:04 pm
It was another mixed day for the indices, as weak earnings from IBM weighed down the Dow, while both the S&P 500 and Nasdaq posted modest gains. While the intraday range was much narrower than it was on Tuesday, traders again faded an upside gap to start the day,...