GDP Blows Past Estimates; Stocks Pullback in Light Trade

The big story to start the session was the big upward revision of the second quarter GDP.  Expectations were for the second quarter to have grown at 3.9% annualized rate, but revisions were well past that at 4.2%.  The revision was great news for … [Read more]

S&P 500 Inches Higher as Volume on Exchanges Drop

A late afternoon selling hiccup just before the final hour was just about all the excitement for the day.  Early morning selling kicked us off and it too found support, but with volume so low it really cannot be chalked up to institutions rushing in … [Read more]

Russell 2000 Leads the Market Higher; S&P 500 Sets another All-time High

Small caps joined the party as the Russell 2000 index led all major indexes higher.  It was a good sign to see the small capitalization stocks join the party.   Durable goods blasted higher, but it was solely due to Boeing.  Home prices stumbled … [Read more]

Last Week of Summer Kicks off with New Highs

The S&P 500 failed to hang on to 2000, but it still closed in all-time highs.  Over on the NASDAQ the index hit a 14 ½ year high. Volume on the NASDAQ was higher, but lower on the NYSE.  IWM remains well below its all-time high and has a bit … [Read more]

Big Wave Trading Portfolio Update And Top Current Holdings

It's is vacation time on Wall Street as volume came in below average all week long. As is normally the case when volume is below average, stocks melted up with leading stocks (based on RS ratings) shining the brightest. The Nasdaq and Nasdaq 100 … [Read more]

S&P 500 Notches another All-Time High; NASDAQ at Decade Highs

The market continues to inch higher into new high territory.  Volume ended mixed on the session with the NYSE turnover higher while NASDAQ pulled in.  It is hard to argue with a market hitting an all-time high on higher volume.  Market pundits … [Read more]

Russell 2000 Continues to Lag the Major Averages

The story of the session was the volatility following the release of the FOMC meeting minutes.  For much of the session leading up to the release the market was relatively quiet.  Immediately following the release the market initially moved lower … [Read more]

Momentum Continues with the S&P 500 Leading the Way

For the past seven out of eight days the NASDAQ has seen a positive close.  Today, the S&P 500 would take over leading the market higher as volume across both the NYSE and NASDAQ fell from yesterday’s levels.  Lagging once again was the … [Read more]

Global Rally in Stocks Continues

Despite volume coming in lower than the 50 day average, stocks advanced.  We continue to see a plethora of stocks setup, breakout, and add to gains.  It is very important we continue to see this type of action from the stocks we are following.  … [Read more]

Big Wave Trading Portfolio Update And Top Current Holdings

The Big Wave Trading Portfolio is once again heavily long as our market direction model on the Nasdaq and Nasdaq 100 returned to BUY signal this week. This is following a series of switches from BUY (signal given in May) to NEUTRAL to SELL to NEUTRAL … [Read more]