Even with many of the global issues pushed off the front page, eager bulls found yet another reason to keep the troops in the barracks. The only newsworthy items are related to corporate earnings reports, which have been mixed at best, interspersed with the occasional spectacular report -- primarily from mega-caps like Google (GOOGL), Facebook (FB), or Amazon (AMZN). Some of the bulls have taken their chips off the table until after Labor Day, while others have merely scaled back to scalping some trades. Either way, stocks appear destined to thrash about for the rest of the summer. Read more about Sector Detector: Lackluster earnings reports put eager bulls back into waiting mode

Scott MartindaleAs many investors enjoy the final weeks of summer, some optimistic bulls seem to be positioning themselves well ahead of Labor Day in anticipation of a fall rally. Indeed, last week’s action was impressive. After only a mere 4% correction, investors continued to brush off the disturbing violence both at home and abroad, and they took the minor pullback as their next buying opportunity. Read more about Sector Detector: Bullish investors jockey for position as if the correction is over

Now that’s what I’m talking about. I have been discussing the overbought technical conditions of the S&P 500 for some time and the need for a pullback to test bullish support levels. And as many commentators have suggested, the more time between pullbacks, the more severe is the action when it finally arrives. Bears had become very hungry after a prolonged hibernation. This week offered up a nasty pullback. Read more about Sector Detector: Patient bulls finally get a new entry point, thanks to inflation fears

Scott MartindaleAfter its long-awaiting breakout of the 1900 level the other week, the S&P 500 gained another +1.3% last week alone, but this double-low progression as I call it -- i.e., on extremely low volume and with persistently low volatility -- is worrisome. Read more about Sector Detector: Bulls revel in the new normal, while bears lie in wait

Today was another surprise Monday.  Short sellers who thought a rough weekend in Ukraine might stir up the war drums again were wrong.  In addition, China took several steps to boost its economy, and the domestic economic reports were fairly positive.  As a result, the shorts capitulated at the opening and risk was on.  The day ended led by the DJI (every stock was positive!), up more than 1%, with the S&P 500 up nearly 1% and the NASDAQ up about 0.8% Read more about What the Market Wants: Risk On? 3 Growth Stocks at Bargain Prices

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Today, with very little market moving news, the S&P 500 closed at 1808.4, yet another new closing daily high.  The index did touch the 1811 area on at least three distinctly different time slots creating a new resistance level.  But after last week’s bevy of positive economic surprises, the sharp gain of 1.1% on Friday, leaving the index just a tiny point away from its ninth consecutive up week, we can’t be too quick to suggest today was a topping ral Read more about What the Market Wants: Caution or End of Year Window Dressing?

david / Tag: MPC, VLO, PRU / 0 Comments

Scott MartindaleAs stock traders take a break for Thanksgiving, all the major averages have hit new highs after breaking through psychological resistance levels, including the S&P 500 at 1800, Dow Jones Industrials at 16,000, and NASDAQ at 4000. Tech stocks were the big leaders on Wednesday after a strong earnings report from Hewlett-Packard (HPQ). Read more about Sector Detector: Is there still enough fuel in the bulls’ tank?

smartindale / Tag: iShares, sectors, ETF, SPY, VIX, MPC, HPQ, iyw, IYF, IYE, IYM, IYZ, IYJ, IYH, IYK, IYC, IDU, BLK, AWH, WDC, GOOG, JAZZ, GNW, ALK, NXPI / 0 Comments

Scott MartindaleThe intransigence continues in Washington, and it has kept stock market buyers at bay until they get the go signal from Congress. This has left the sellers in control as investor sentiment has temporarily shifted from a buy-the-dip mentality to protect-your-gains and preservation-of-capital. Read more about Sector Detector: Buy the dip sentiment gives way to preservation of capital

smartindale / Tag: iShares, ETF, sectors, SPY, VIX, TSLA, CACI, QCOM, MPC, EOG, iyw, IYE, IYF, IYK, IYJ, IYC, IDU, IYM, IYZ, IYH / 0 Comments

Scott MartindaleBulls have regained their footing and recruited some reinforcements, as the S&P 500 on Wednesday powered right through its 5.5-year intraday high of 1576 on increased trading volume to set a new record of 1589. Read more about Sector Detector: Bulls reclaim their mojo as Healthcare leads

smartindale / Tag: iShares, sectors, ETF, SPY, VIX, TITN, QCOM, SNDK, HHC, BRKB, MPC, EPL, iyw, IYF, IYJ, IYH, IYK, IYC, IYE, IYM, IDU, IYZ / 0 Comments

Scott MartindaleI was watching the ABC World News the other evening, and I was struck by the commercials they ran. The target demographic is obviously an older crowd (and since I was watching, I guess that includes me). Advertised products within the short 30-minute newscast addressed a variety of age-related ailments like low-T, erectile dysfunction, overactive bladder, constipation, hemorrhoids, and loose dentures. Read more about Sector Detector: Healthcare sector leads a strong market forward

smartindale / Tag: sectors, iShares, ETF, SPY, VIX, MPC, GNW, AL, ALK, MTW, EPL, VMW, CACI, AWH, BLK, iyw, IYF, IYK, IYJ, IYH, IYC, IYE, IYM, IDU, IYZ / 0 Comments

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