It was a nice trading day for the market, as the indexes touched new highs for the year until an ugly sell late in the afternoon sent most stocks lower. This created a bearish engulfing pattern on the indexes, which usually means lower prices will follow.
Notice that the S&P 500 has a gap to fill […]
The market was expected to open strong, but the open was muted and stocks pulled back. The NASDAQ is still trying to clear this double top pattern, which the Dow and S&P 500 cleared last week. I wouldn’t be surprised to see a little more weakness here, but the chart looks OK for now.
I had […]
The NASDAQ, which usually leads, has been lagging as the other indexes broke out of double top patterns last week. This was likely because many big NASDAQ stocks are reporting earnings this week. AAPL reported after hours today, and earnings were blow out. This should push the NASDAQ higher. Other NASDAQ stocks reporting this week […]
