COMMENTARY
Stocks Find Strength at the Morning Lows Closed just off the Highs of the Session
After the recent bout with selling the market was able to find buyers pushing the market higher as volume swelled. Whether or not it was managers trying to get in their trades prior to leaving the Hamptons or Shore doesn’t really matter. Expanding volume as price...
Stocks close in the Red; Volume ends Mixed
Continuing with the summer trade the market closed lower lead by the Russell 2000. The NASDAQ posted back to back losses while the S&P 500 losing streak extended to 3 days. We did see a nice rally off the lows, but as soon as the rally began volume was sucked out of...
Stocks Pull back in Fast Trade
Let the top calling begin as the stocks pull back in heavier volume. Today’s pull back wasn’t too severe and part of a normal reaction to the market hitting new highs. What we’ll want to avoid seeing for this uptrend to fail is a string of distribution days strung...
Russell 2000 Hits Another All-Time High as Volume Remains Light
ISM non-manufacturing readings from across the globe collectively showed the service side of the economy continues to expand. The better than expected data didn’t help the DAX and Nikkei too much and failed to spark the S&P 500 and Dow Jones Industrials to new...
Big Wave Trading Portfolio Update And Top Current Holdings
The Big Wave Trading Market Model remains under a BUY signal with zero pressure weighing on it. With the indexes hitting all-time highs and leading stocks leading the way higher, everything is aligned for further potential price appreciation in all asset classes....
Economic Data Boosts Stocks as Volume Drops
A slew of economic data across the globe came in better than expected boosting stock prices around the globe. It began with China’s official (forget HSBC) PMI reading above 50 at 50.3. Yesterday’s end-of-day selling is a forgotten memory with the huge move in the...
FOMC Rate Decision Sparks Volatility Stocks end Near Session Lows
It’s a stock market top! Just kidding, there is no way any of us know whether or not today was a market top or not despite many who will try to call a market top. GDP this morning gave a big boost to the market showing a GDP grew 1.7% annualized in the second quarter....
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...
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