The Outlook As stocks continue to tumble lead in large part by semiconductor stocks, the outlook isn't changing. The index still is very oversold and could try a bounce at any time. The problem at present is that the downturn is not pulling all stocks lower. This is not a market collapse but still a correction. This makes a bounce hard to sustain...
The Outlook There is a chance on Friday we could see a better bounce attempt. We could also see the SPX slip below 5000 first and then try to bounce. The index is down 4.8% which is a typical bull market correction. The technical indicators have been advising for the past two days is the market is deeply oversold. Whether today's expected rally...
The Outlook There is no change in the outlook. Stocks are becoming very oversold and technical indicators are reaching levels where a bounce could occur at any time. There were two attempts on Wednesday. I am expecting another attempt today but stay cautious and take profits as the outlook remains negative until we see the technical indicators...
The Outlook The most important thing on Tuesday was stocks not falling further but instead holding onto support levels at 5050. Even the close still saw the 5050 level holding on. By the close, all the technical indicators were signaling that the selling had pushed the index to deeply oversold. The Rate Of Change signal switched near the close...
The Outlook We got a bounce Monday morning at the open and the day probably would have ended positive except for the conflict between Israel and Iran. On Tuesday stocks are even more oversold than they were on Monday. That means there will be more opportunities for trades in oversold stocks. Remember to stay with large cap quality companies and...
The Outlook There should be a bounce attempt today with the SPX sitting at the 50 day moving average and the Lower Bollinger Band. It would be rare for no bounce attempt to occur. However the bounce might not last beyond a few hours or the day. A lot will depend on earnings tomorrow. The SPX closed at 5114 on Friday, sitting right inside a...