Since last Wednesday’s bearish reversal, the market has continued to pull back, but on lower volume. The S%P 500 now sits at the 20-Day SMA, which is also near a trendline. So far, it’s too early to get super bearish. A break of this trendline though, and the S&P 500 could at least visit the […]
Although there was some hope at the open for a rebound from yesterdays selling, it didn’t take long for the market to turn lower. The indexes closed lower, but they mask some of the big moves lower in beta stocks that have been ripping higher for months.
Once again, the dollar was the only indicator you […]
Finally, a distribution day in the market, which indicates institutional selling. Things were pretty quiet going into the FOMC statement in the afternoon, then stocks rallied. As usual, the first move is the false one. The dollar began to rally pushing stocks much lower into the close. A reversal day, as seen in this chart.
There […]
