by Big Wave Trader | Apr 24, 2013
Early morning rally from European markets albeit on continued economic weakness helped fuel early morning gains in US Futures. China didn’t help matters with a disappointing Flash PMI reading with the Shanghai falling 2.6%. US economic data didn’t surprise to the...
by Big Wave Trader | Apr 23, 2013
Led by MSFT the NASDAQ led the market higher. Existing home sales disappointed, but the disappointment wouldn’t last very long. Buyers did not have much resistance as sellers weren’t putting up much of a fight. Volume was light even with the solid price gains. MSFT...
by Big Wave Trader | Apr 21, 2013
Due to the distribution this week in all of the major market indexes, the breakdowns in leading stocks, and constant lagging in the Russell 2000, the market direction model has switched to NEUTRAL on all major market indexes. The short-term current market environment...
by Big Wave Trader | Apr 19, 2013
Economic data was on the weak side today with Jobless claims, Philly Fed, and Leading Indicators all came in worse than expected. Despite the negative economic news the market was able to push into positive territory. The time spent in the green would be temporary as...
by Big Wave Trader | Apr 18, 2013
The NASDAQ Composite loses its 50 day moving average on heavy volume. AAPL and GOOG lead the NASDAQ 100 lower as the big cap technology closed down 1.99%. Commodities followed stocks lower with copper and other metals leading the charge lower. The Federal Reserve’s...
by Big Wave Trader | Apr 17, 2013 |
In fine QE fashion stocks rebound in very light trade. Positive housing data did help the market even though growth came from multi-family homes. Industrial production grew at a faster pace than expected. Today was the first time we had economic data come in better...
