COMMENTARY
European Stocks Continue Slide as US Stock Rally Fails
The slide continues for European stocks as the standoff over the Ukraine conflict. At the US market open US stocks shrugged off European weakness. Volume wasn’t overwhelming on the upside as we pushed higher. Just before 11am EDT was when sellers began to hit the...
A Promising Rally Off the Lows Stalls Mid-day
What appeared to be a solid rally off the lows lost steam after noon eastern standard time. At the open it certainly looked like we were going to continue Tuesday’s sell off. Sellers were simply exhausted in the near term as buyers took over pushing stocks to the...
Ukraine Fears Push the Market Lower
Forget the ISM figures and other economic data point the geopolitical issues in the world are causing jitters to increase. The market did take a bit of a dip after the release of the ISM non-manufacturing numbers. However, the market was able to stabilize and inch...
Stocks Rebound from Last Week’s Selling
After last week’s selling a bounce was certainly not unexpected. Volume could not match Friday’s levels, but Friday was the first of the month where volume is typically elevated. Price action was solid for much of the day after the morning dip as European stocks...
Big Wave Trading Portfolio Update And Top Current Holdings
The Big Wave Trading Portfolio has been anticipating for weeks that something was wrong with the most recent attempted rally in the overall stock market. On Thursday these problems were confirmed with a huge sell off on extremely large volume with many leading stocks...
Massive Selling has our Market Model Switch to Sell Mode
Massive selling today pushes the Big Wave Trading market model to SELL mode. For whatever the reason sellers were in control for the entire day sending stocks lower in massive turnover. The S&P 500 dove through its 50 day moving average in massive turnover. Only...
Hard SELL Signal On All Models Produced Following A Day Of Selling And A Day Full Of Errands
Today made it clear that what I have been warning about for 2 weeks now was in fact churning. Today's sell off is the hardest SELL signal we have received since the summer of 2011. SELL signals were triggered in every single major market index and sector related index...
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...
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