COMMENTARY
Technology led by FB fuel the NASDAQ Higher
The NASDAQ hit a new multi-year high prior to noon time only to see sellers rush in and quickly move the index to its lows of the session. The S&P 500 was unable to sustain its morning gains too despite the efforts by technology names. Industrials and utilities helped...
Market Participants await Economic Data and the Fed
A quiet day on Wall Street today as summer trading continues. Many are likely still trying to recover from their weekend festivities. Perhaps many were with Steve Cohen. Pending home sales weren’t as bad as the market was looking for, but was still negative month over...
Big Wave Trading Portfolio Update And Top Current Holdings
The Big Wave Trading portfolio remains under a BUY signal with only a minor amount of pressure on the indexes following the weak price action on Tuesday and Wednesday in the overall market. Besides that there is no pressure in our model as leading stocks, speculative...
Major Market Average Stage Reversal; FB Leads
Despite selling in Europe and Japan the US Markets were able to reverse losses and end near highs of the session. The big story was the massive move FB made after announcing second quarter earnings. On the flip side, homebuilder PHM reported earnings the street did...
Obama’s Economic Speech Fails to Inspire Buyers; AAPL Jumps
A big jump in New Home sales failed to get the market going as the homebuilders sold off hard on the news. The talk of the street was AAPL earnings and the stock’s big move on the day. Without AAPL the NASDAQ would have notched a day of distribution. The S&P 500...
End of Day Selling Push the NASDAQ and S&P 500 to the Lows of the Session
Earnings season continues and the prevailing theme is for companies to beat on the bottom line, but fall short on top line growth. There are many things we can extrapolate, but in the end it won’t help our bottom line. A big miss from the Richmond Manufacturing index...
S&P 500 Hits another All-Time High
Today was a quiet day in the Market as participants ease back into trading from the summer weekend. Existing home sales disappointed where by sales dropped 1.2% month-over-month. Clearly higher rates have put pressure on the housing market. Chicago Fed Activity index...
Big Wave Trading Portfolio Update And Top Current Holdings
The Big Wave Trading Model remains under a BUY signal with very little data weighing against its current signal. The stock market climbed higher, across the board, this week and despite the lower volume there remains very little to zero selling pressure in the current...
Stocks Gain, but Tech Disappoints in After-Hours
Better economic data hit the tape helping push the S&P 500 to new highs. The Philly Fed manufacturing index came in well above expectations. Jobless claims fell week over week. It was certainly good news from the economic front and the market pushed higher. Volume...
BAC and YHOO Soar as Stocks get back on the Winning Track
Poor housing data kicked off the morning with Mortgage Applications falling along side Housing Starts and Building Permits. However, the data wouldn’t keep stocks from ending positive as Bernanke’s testimony and continued to press the Fed would remain accommodative as...
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