COMMENTARY
Stocks Dive on FOMC Statement and Weak ADP report
Small cap stocks lead the entire market lower as the market didn’t respond well to the FOMC’s statement. At the beginning of the day the ADP employment report disappointed showing weak job growth for the month of April. ISM manufacturing did surprise to the upside,...
Stocks Advance Ignoring a terrible Chicago PMI reading
Closing out the month of April stocks were able to go out on a green note. Volume was hot throughout the day and did not need the surge of volume at the end of the day to eclipse Monday’s level. What is normal for this market is for us to see volume not accompany...
New Highs on Low Volume as Traders look ahead to the Fed Meeting Beginning Tomorrow
Another new high set by the market despite uninspiring economic data. Personal savings rate hit a new low as incomes could keep up with spending. In addition, the Dallas Fed survey dropped well below expectations. The Federal Reserve has been pumping billions into the...
Big Wave Trading Portfolio Update And Top Current Holdings
The Big Wave Trading Portfolio remains under a NEUTRAL condition, following this week's action. While the price action was very strong with many stocks producing large moves, the overall indexes are still trapped in a trading range between their respective recent...
NASDAQ Closes Positive for the Fifth Straight Session
In just 5 days the market has been able to regain almost all of the prior week’s loss as volume jumps on the day. Jobless claims were better than expected helping boost futures. The only other economic release was the Kansas City Fed Manufacturing Index and it...
Dow ends win streak; Small caps lead the market higher
The market kicked off with a very disappointing Durable Goods reading, yet the S&P 500 and NASDAQ were able to finish just above the flat line. Volume inched higher on the session with the Dow Jones Industrial Average notching a distribution day. PG and T were the two...
Stocks Extend Gains for Third Straight Day
Early morning rally from European markets albeit on continued economic weakness helped fuel early morning gains in US Futures. China didn’t help matters with a disappointing Flash PMI reading with the Shanghai falling 2.6%. US economic data didn’t surprise to the...
Stocks Lift Higher as Volume Disappears
Led by MSFT the NASDAQ led the market higher. Existing home sales disappointed, but the disappointment wouldn’t last very long. Buyers did not have much resistance as sellers weren’t putting up much of a fight. Volume was light even with the solid price gains. MSFT...
Big Wave Trading Portfolio Update And Top Current Holdings
Due to the distribution this week in all of the major market indexes, the breakdowns in leading stocks, and constant lagging in the Russell 2000, the market direction model has switched to NEUTRAL on all major market indexes. The short-term current market environment...
Stocks Drop Again but Volume Slides as AAPL’s Slide Continues
Economic data was on the weak side today with Jobless claims, Philly Fed, and Leading Indicators all came in worse than expected. Despite the negative economic news the market was able to push into positive territory. The time spent in the green would be temporary as...
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