COMMENTARY
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...
Light Trading Volume persists; Stocks pull back notching a Day of Distribution
A better than expected Homebuilder sentiment reading failed to lift stocks and sent homebuilding stocks lower. Trading volume rose above Monday’s level, but again was below average. The major stock indexes did notch a day of distribution in technical terms. However,...
NASDAQ and S&P 500 make it 8 straight positive sessions; Volume drops
A better than expected Empire Manufacturing index was a positive for the market in the early going. However, weaker than expected retail sales gave the market some pause. Despite the mixed economic readings the market was able to push higher on the day even without...
Big Wave Trading Portfolio Update And Top Current Holdings
The Big Wave Trading portfolio is currently under a BUY mode across the board, with the Nasdaq fully switching to a BUY signal on the 9th with the SP-500 and DJIA following on the 11th. These indexes now join the Russell 2000 which was placed under a BUY signal last...
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