COMMENTARY
GDP Beats Expectations yet Stocks Continue to Churn
Despite a disappointment from the ADP Employment report the market received good news as second quarter GDP came in at 4%. The GDP figure came in well ahead of expectations pushing futures higher prior to the market open. Unfortunately, the highs set in the morning...
Nasty Intraday Reversal On Heavier Volume Confirms Recent Churning In The Major Market Averages
As we have been saying for weeks now, it appears the market is undergoing some churning action that historically leads to lower prices. Today was further confirmation of this and we had NYSE stocks break down everywhere in my important nightly scans. This is a big...
More Market Churn as Stocks reverse from Session Highs
The morning kicked off with stocks running higher. Consumer confidence figures were at levels not seen since 2007 and the market initially liked it. However, as the market wore on and more rumors regarding an Obama impeachment and more sanctions against Russia...
Market Ends flat despite early Morning selling
After the morning selling gave way to afternoon buying the market ended mostly flat. Small cap stocks were once again laggards on the session as the Russell 2000 ended down .46%. The Russell 2000 continues to be very weak and it closed below its 200 day moving...
Big Wave Trading Portfolio Update And Top Current Holdings
The Big Wave Trading Models are currently under a bit of a mixed weighing across the board. We are under a BUY signal in the SP-500 and Nasdaq 100 by proxy. They hit new all-time or 14-year highs. We are under a NEUTRAL signal in the Nasdaq undergoing what appears to...
S&P 500 Stalls as Biotech Stocks get hit
A slew of earnings hit the market and while earnings for many Biotech stocks were positive the market did not receive them well. Biotech was hit hard led by ALXN and ILMN to name a few. The S&P 500 hit a new all-time high, but finished near session lows as the...
S&P 500 Sets Record Highs; NASDAQ Closes in on Highs
Slow and steady is this market’s mantra as the S&P 500 hits a new all-time record high in light turnover. Volume still does not matter and we have seen this market make new highs without much volume. Volume on the NASDAQ was higher thanks to MSFT and AAPL. ...
Terrific Tuesday is back as Stocks close higher; Volume Jumps
Following Europe’s lead US stock futures were pointed higher during pre-market trading. Inflation data did not budge futures one way or another as the headline figure was just above the Federal Reserve Bank’s target. A few hiccups in the afternoon knocked the market...
Stocks Finish off their Lows of the Session; Europe still Struggling
Europe continues to move lower as tensions in Ukraine weigh on European indexes. US stock futures were lower this morning, but weren’t matching the level of decline as seen in Europe. Sellers picked up momentum as the morning wore on up until President Obama began...
Big Wave Trading Portfolio Update And Top Current Holdings
The Big Wave Trading Portfolio is currently under a NEUTRAL conditions in all of the major stock market averages. The Nasdaq 100 has returned to a BUY condition following its switch to a NEUTRAL condition on Thursday. The Russell 2000 is returning to a NEUTRAL...
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