Staying in touch with current events and market action is important for trading success. This blog contains topics of interest that relate to individual stocks, market indices, market sectors/industries, and ETFs.
Today, the market advanced off the opening in what appeared like a breakout day. The Nasdaq had finally broken above the March high and surpassed it by +28 points. Over the noon hour, everything changed. The market began to sell off around 1:00 p.m… On Wednesday, the market drifted down off the open in light-volume selling as investors waited for the FOMC decision on tapering and interest rates. The Fed's decision was to reduce the asset purchases (bond buying) by $10 billion; this lowers the… On Monday, the market began the day by rising, but then it began a decline over the noon hour. The market found support in the afternoon session and bounced up to close slightly higher. The Nasdaq gained +14 points (+0.34%) while the S&P could only… Last week was a shortened trading week due to Memorial Day observance on Monday. The market correction ended on Tuesday. The market closed higher for the second week in a row. The Nasdaq gained +1.36% for the week and is firmly above its 50 EMA. The… On Thursday, the market seemed to struggle in the morning session and that may have been influenced by the GDP report which revealed a 1.0% contraction. In the afternoon session, the market made a strong upside move and closed at the high end of the…ProTrend ProFiles
Market Stages Key Intraday Reversal
Market Pops After Fed Announcement
Market Pauses in Overbought Territory
Market Remains in Uptrend
Market Makes Afternoon Surge
Historically, August is one of the 4 worst performing months for the S&P 500 (source: Stock Trader's Almanac). This year, the S&P's performance in August fit the history, falling -2.8% during a market correction. The large, blue arrow represents the month of August....keep reading