A Perfect Storm For The Market?
Next week, some large cap tech stocks are schedule to report their earnings, and the FED is meeting to decide the next move on US interest rate along with lots of economic reports. It could be lining up for a perfect storm for the market to make a big move in either direction.
In this video, we will look at some possible price action for the market and the following momo stocks: AAPL, FB, AMZN, GOOGL, TSLA, NFLX & TWTR.
If you really love your country, then focus on how to fix our political system instead of laying blames at the opposing party! And don't forget to vote and exercise your rights.
"If you don't vote, you can't complain!"
Here are some views on how both parties are equally responsible for our country’s financial situation.
A brief update on the market and these momo stocks: AAPL, FB, AMZN, GOOGL, TSLA, NFLX, TWTR.
The market continues to be unsettled as it is attempting to make a turn. Since the DJI & SPX made a new closing low on Feb 11, 2016 off from their all time closing high, the breadth has been improving. Recently, that improvement appears to have stalled and the breadth started to show some divergence. In addition to a diverging breadth, the non-confirmed recovery high based on the Dow Theory remains unresolved. Until the divergence and the non-confirmation issues are resolved, one should continue to be on the defensive and be very selective on either side of the trade, long or short.
Today’s price action in the market might be viewed as dull to some participants, but the message it sent was very informative to the market watchers.
Was It An April Fool And What Just Happened?
Did you see what the market did on April 1, 2016? No, it was not an April fool. It was a positive close with negative breadth. You might ask what does that mean. Well, if you have been following and/or trading the market for the last couple of weeks, then you have already experienced it; the pullback. Before April 1st, there was a non-confirmed Dow Theory recovery high on March 29, and that was the first message the market sent out to alert us to be cautious. When the positive close with negative breadth occurred on April 1, the market told us to be prepared for pullback. Since April 1, the market had a mild pullback with the SP500 losing 30.79 points or 1.48% on a closing basis and negative for the year, while the DJI lost 236.34 points or 1.3% but remains positive for the year.