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.
On Thursday, the market took time to digest the big gains from Wednesday's rally. Despite the Nasdaq and S&P both closing down, the gains from Wednesday were not seriously eroded. The Nasdaq closed down -11 points (-0.29%) and the S&P lost -1 points… On Wednesday, the market drifted down for most of the day while traders waited for the Fed to report on its bond buying program and the Fed funds rate. The Fed reported that it will trim the bond buying program by 10 billion monthly (from $85 billion… On Tuesday, the market was treading water, waiting for the tomorrow's Fed announcement on their bond-buying program. All three indices had narrow range days. There was neither a strong bullish or bearish statement. The Nasdaq lost -5 points (-0.15%)… On Monday, the S&P snapped a 5 day losing streak, and the Nasdaq broke a 4 day losing streak. The market opened up and rose for the first hour of trading, but the intraday pullback failed to rebound above the early morning highs. Instead, the market… Last week the S&P 500 tested the 29 November pivot high on a weak up day, but it could not push higher. The S&P declined for the next 4 consecutive days. There were 3 down days out of 5 for the Dow and Nasdaq. The S&P and Dow ended the week down…ProTrend ProFiles
Market Digests Bigs Gains
FED Sparks Huge Market Rally
Waiting on the Fed
Market Snaps Losing Streak
Market Near Support Level
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