by Big Wave Trader | Oct 28, 2014 |
An early morning sell off as pending home sales disappointed did not last long. Buyers and we use this term loosely came to the market’s rescue pushing the market back near Friday’s closing prices. Crude oil was a hot topic as the commodity briefly traded below $80...
by Big Wave Trader | Oct 26, 2014 |
Despite the V-shaped straight-up lower volume rip higher by the overall market the past week, our market models remain under a NEUTRAL condition across the board. This includes the Nasdaq and Nasdaq 100 which retook their downtrending 50 day moving averages. This...
by Big Wave Trader | Oct 24, 2014
Yesterday’s losses were quickly erased as traders cheered earnings. CAT reported earnings prior to the bell and after buying back a ton of stock they were able to goose earnings enough to beat rather easily to the upside. Buying started from the start and did let up...
by Big Wave Trader | Oct 23, 2014
All was going well for the markets until afternoon selling soured the entire rally. Yesterday’s big volume and big price move confirmed a new market rally. The unfortunate news today was immediately following a confirmation day was a near distribution day....
by Big Wave Trader | Oct 22, 2014
On the back of AAPL’s earnings the stock market confirmed a new market rally with an explosion to the upside. While confirming a new rally is always exciting this was done very quickly and well away from lows. The shape of this rally is not one we like to see to...
by Big Wave Trader | Oct 21, 2014
Early morning disappointing earnings news from IBM kicked off the week by sending US futures lower. European indexes were lower following the weekend adding to the weakness in US futures. Since the last Federal Reserve meeting stocks have been unable to hold many...
