by Big Wave Trader | May 8, 2016
Stocks staged a pretty impressive rally overall on Friday with all of the indexes putting in a nice reversal off the early morning lows combined with a strong close. Unfortunately for the bulls, volume was mixed and leadership was weak with the majority of the gains...
by Big Wave Trader | May 5, 2016
My scans are looking bleaker and bleaker by the day. This is quite a rapid, but unsurprising, deterioration from the April highs. This is the third day in a row that my scans failed to produce anything that is remotely actionable. There are still stocks forming decent...
by Big Wave Trader | May 5, 2016
One thing continues to remain clear and it is the lack of interest traders have in supporting the NASDAQ. The index closed below Friday’s low and while volume for the composite index was lower price says it all. After Monday’s rally stocks have stumbled...
by Big Wave Trader | May 4, 2016
The market giveth and the market taketh. Today’s selling certainly puts the NASDAQ in danger of entering into a new downtrend. Volume on the NASDAQ rose on the day while the NYSE fell against Monday’s inflated volume figures. VIX rose, but could not reach a 16 handle....
by Big Wave Trader | May 3, 2016
May kicked off with stocks pushing off morning lows to close near session highs. According to IBD’s website NYSE volume was flat, but NASDAQ volume slipped on the session. For the most part the day lacked any volume push until the end of the session. Given the...
by Big Wave Trader | May 1, 2016 |
As we head into the new week there are cracks that are starting to show in the armor of the stock market. Distribution days have been common as this rally has become a little extended and finally on Thursday the market decided to crack. The selling on that crack...
