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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. 

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Market Remains Weak

Charles Schaap -

Last week, the market ended the week mixed. The Nasdaq slipped -1.26%, the S&P was off slightly at -0.14%, and the Dow closed up +0.43%. Volume was lower for the week.

The Nasdaq and S&P both closed the week "inside" the prior week's range. That means there was no directional push outside of the prior week's highs and lows, so there was little information given about market direction.  

The S&P is still stuck in a weekly/daily range pattern with low ADX on both timeframes. The Nasdaq, on the other hand, has a low weekly ADX, but high on the daily (29). The daily ADX is rising, and the +DMI is dominant; this is not a good signs for the bulls.

September Could Be Worse than August
Charles Schaap - August 30, 2013

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