ProTrend ProFiles

Keep an Eye on Support Levels

Charles Schaap

On Monday, the market opened slightly up, but then it fell into the noon. It found support over the lunch hour, then sauntered upward in the afternoon. Around 3 p.m., it sold off mildly but held above the noon time lows. Down volume edged out up…

Bears Active in January

Charles Schaap

On Monday, the market opened slightly up, but then it fell into the noon. It found support over the lunch hour, then sauntered upward in the afternoon. Around 3 p.m., it sold off mildly but held above the noon time lows. Down volume edged out up…

Big Money Will Tip Hand This Week

Charles Schaap

Last week was a 4-day trading week due to New Year's Day. Volume was below average for all 4 days of the week, and all 3 indices gave up ground on the week. The Nasdaq closed at 4,131 (-0.59%), the S&P closed at 1,831 (-0.54%). The Dow was down…

New Year Begins with Profit Taking

Charles Schaap

On Thursday, the first trading day of the New Year, market participants took profits and sent the indices falling.The Nasdaq fell -33 points (-0.80%), the S&P dropped -16 points (-0.89%), and the Dow gave up -135 points (-0.82%). Volume on the S&P…

Market Notches Best Year Since 2009

Charles Schaap

On Tuesday, the market opened up and started to climb, but at 11 a.m., it began to decline back down to the opening price level. The market appeared like it was deteriorating on the last trading day of the year, and then it suddenly popped in the…