The market put in its third straight up day, helped by oil plummeting, which rose sharply in the morning, then sold off. Take a look at the USO; It appears to be in trouble.
Some more downside in oil is very likely, which could be good news for the market.
However, in Tuesdays post I mentioned to […]
The Bounce Continues
The market rallied early on a better than expected durable goods report, which was dampened by a mid day rally in oil. But the market resumed its move up after the oil market closed, with each index making a modest gain. There was nothing modest about many of the momentum stocks, many of […]
The market bounced today as expected. Although not a tremendous bounce, it was encouraging to see.
One of the reasons a bounce was expected was because the Nasdaq and S&P 500 were sitting at major support levels. As mentioned in last nights post, the Nasdaq was sitting at a trendline and could bounce. It closed up […]
