COMMENTARY
Commodities Continue Plunge; Drag Stocks Down
Stocks stumbled after a poor reading from the ISM Non-Manufacturing index. Despite a moderate figure from the ADP employment report the drop in the ISM index really shook traders. Sellers were in full control as stocks were heading into panic mode just before the one...
Stocks Fall despite Bin Laden’s Assination
News spread quickly Sunday night regarding the killing of Bin Laden. Stock market futures immediately jumped on the news vaulting nearly one percent. It appeared as if the market was going to rally hard, but by the end of the day the market was a far cry from its...
Ben Bernanke Delivers as the NASDAQ Reclaims 2007 Highs
The early going was very rocky as sellers took to the market taking down equity prices prior to the 12:30pm EST policy statement and 2:15pm EST press conference. By 11:00am EST stocks hit the lows of the day and began to trend higher. Leadership took a hit prior to...
NFLX Stock Tumbles in After-Hours Trading
Volume tumbled as stocks took a break after last week’s price run up. The market attempted to breakout and even notched a follow-through type day last week it is not out of the question we’d have a slight pullback. In addition, the market is certainly positioning...
AAPL Stock Blows out Earnings as Stocks Zoom Higher in Increased Trade
Running out of the gate stocks zoomed higher as volume swelled after the market had pulled back from the reaction move off the Japan Crisis low. The action near the most recent highs called into question the whether or not the market would be able to support higher...
Standard and Poors Knocks off Stocks Ending Negative, but Near Highs
At 9am EST Monday morning Standard and Poors (S&P) shocked the market by putting the United States debt rating on negative watch. Futures dropped like a rock as fear gripped the market and selling would not stop there. At 10am EST the NAHB Housing Market Index...
Fiscal Austerity and Budget Plans Dominate Stock Market Trading
The market continues to act bearishly as gains from the morning session were unable to hold as buyers were unable to hold up prices. It was clear the market sell-off insuing after the market hit the high of day was due to the Obama budget plan. Prices dove as...
Crude Oil Cracks for the Second Day as Stocks Follow Suit
Selling pressure continued on the NASDAQ for the fourth straight day. Institutions were busy in the NYSE selling down commodity related names including crude oil related names. Oil and gas names suffered the worse fate falling more than 2.9% followed by technology...
Stocks Slump Again Led by AAPL Stock and Small Cap Stocks
Another gap and trap day where stocks weren’t able to hold the gains seen at the opening of the day. Gap and traps aren’t bullish movements, but bearish ones and today’s move came with increased volume on the NASDAQ as volume slide on the NYSE. A few mergers in the...
US Dollar Index Breaks to New Low; Stocks Fall in Light Trade
Once again the market gapped to the upside only to see prices head lower. Volume ran lower throughout the day; it never got going despite the acceleration in selling at the 2pm hour. Today’s action was a culmanation of the entire week. While on the surface it...
Follow BigWaveTrading
Follow BigWaveTrading on Twitter and StockTwits