The Outlook The CPI reports will have to be a fair amount higher than estimates, to send stocks considerably lower today and I don't think that will happen. Instead we could see some light selling and a dip or two, but overall the technical indicators are signaling support for another move higher today. Tomorrow's Trade On Hold The Tomorrow's...
The Outlook The bounce on Monday was expected following a 240 point loss last week. Today we should see investors try for a second bounce but I am expected more push back from investors with a possible slightly lower close. With less talk on Monday about a recession and more talk about the so-called "soft landing" the market calmed down and...
The Outlook The August non-farm payroll report on Friday came in lower than expected and investors sold stocks lower. With a new MACD down signal confirmed on Friday, many stocks are oversold and the chance of a bounce on Monday or Tuesday is high. This won't mean the pullback is over but it should move the market higher before another move lower...
The Outlook The August non-farm payroll report due out today at 8: is one of those pivotal moments that many investors hate. Stocks could swing either way after the numbers are known. Investors are holding on waiting for the Fed to make the first rate cut which they expect will be this month. Today will help to determine if a rate cut is probable...
The Outlook The bounce on Wednesday was fairly decent and managed to reach 5552 but a lack of buying saw the rally given back and the day ended slightly lower. The same occurred on the NASDAQ. Tech stocks continued to be a drag on stocks indexes but losses were far less than what we saw on Wednesday. The outlook yesterday was for the SPX to reach...
The Outlook After the market plunge on August 4, Tuesday's plunge, the second in a month, would be rare to see an immediate bounce. There are some signals that a bounce today is possible but don't expect the bounce to last. The next best support level from where the SPX closed on Tuesday is at 5450 and then 5400. I was bearish after the August 5...