Thursday was much the opposite of Wednesday; yesterday the market was up thru mid afternoon then suffered significant selling late. Today indexes were down thru mid afternoon and then buyers showed up. It’s a very volatile market right now and not one that is very simple to deal with. The S&P 500 gained 0.95% and the NASDAQ 0.98%. Some dovish comments Janet Yellen made to lawmakers and oil not dropping yet again helped the mood some today.Continue reading
Friday was a generally quiet session until the closing 90 minutes when sellers came in; the S&P 500 fell 0.55% while the NASDAQ gained 0.16%. A pretty significant warning by shipper UPS might be something to watch for an economic perspective – this is a company that moves a lot of goods around the country. Maybe it was just specific to the Christmas season but if there is another warning down the road it could be something bigger. In economic news, the National Association of Realtors said on Friday existing home sales increased 2.4% to an annual rate of 5.04 million units last month. Economists had forecast sales rising to a 5.06-million-unit pace. For all of 2014, existing home sales fell 3.1% to 4.93 million. That was the first annual drop since 2010.Continue reading
Despite more or less doing what was rumored yesterday, the actions by the European Central Bank this morning set indexes on fire. This has been a consistent pattern for years now. One day it will not have the same effect but until that day comes traders will react in knee jerk reaction. The S&P 500 gained 1.53% and the NASDAQ 1.78%. There had been a long standing rejection of quantitative easing by the Germans but they have finally been overruled by today’s actions.Continue reading
We had some technical difficulties tonight so no market recap video today but I posted an idea session last night where we looked at some recent winners to see which names might be good ideas go forward, on my Ticker.tv channel, Mark333.
Indexes opened down as oil weighed, and stayed week all day in a quite miserable session. Investors have become conditioned to V shaped rallied lasting weeks and weeks but after the 180 degree turn mid December, we’ve had normal quiet holiday trading at first but now some significant selling to begin 2014. Action in oil and Treasuries makes it look like the global economy is seriously cooling. The S&P 500 fell 1.83% and the NASDAQ 1.57%. Aside from oil there was also the normal turmoil out of Europe as some whisper Greece wants to leave the Euro.Continue reading
Tuesday was one of the most interesting days in a long while. We entered the day severely oversold on some secondary measures so for short term traders there was an opportunity for a trade IF the market opened down. That happened as some massive interest rate hikes in Russia overnight caused consternation. The trade to buy the weak market was there but you truly had to be quick today. We’ll talk more in detail on the intraday action in a moment but for the day the S&P 500 ended down 0.85% and the NASDAQ 1.24%. Tomorrow the Fed will release their meeting statement, with the central bank gathering to consider the timing and size of interest-rate hikes and whether to reiterate its vow to maintain rates low for a considerable period.Continue reading
SPECIAL NOTE FROM BLAIN – Thanks to everyone who tuned in yesterday for the market recap live, the archived broadcast has been watched over 350 times since it aired, thank you!
Tonight I am streaming live on my channel from 9:30 PM – 11:00 PM EST and have a BIG announcement to make regarding StockTradingToGo. Tune in live to hear the big news before everyone else! We are going to do chart flipping thereafter, goal is 200 charts tonight!
Indexes bounced back from yesterday’s sharp losses but momentum waned in the afternoon as some selling pressure pushed stocks well off their highs. The S&P 500 gained 0.45% and the NASDAQ 0.52%. It is nearing the end of the year so our nearly annual Washington D.C. hijinks are back with us as moves to block a spending bill caused some fear of a government shutdown. We saw a much bigger standoff a few years ago at the end of the year if you recall. On the positive side, the Commerce Department had retail sales rising 0.7% last month, the largest increase in eight months. Lower gas prices certainly help!Continue reading
Indexes rallied on good economic data but some late day selling took stocks well off their highs. The S&P 500 gained 0.17% and the NASDAQ 0.24%. Remember, we are in a perverse kind of market where people want good news but not “too good of news” to make the Federal Reserve remove their massive monetary support.Continue reading
Indexes dipped at the open once again but stabilized as the day went by on jawboning from the Fed. That said, it was more of less selling than a lot of buying pressure. The S&P 500 gained 0.01% and the NASDAQ 0.05%. A Federal Reserve official said the central bank should consider delaying the end of stimulus plans, which as usual made traders happy. In economic news, U.S. industrial production rose 1.0% in September, versus expectations of 0.4%.Continue reading