ProTrend ProFiles

Market Slips for 3rd Consecutive Day

Charles Schaap

On Thursday, the market declined for the 3rd consecutive day. The morning started out with weakness that lasted until noon, and then the market attempted to rebound in the afternoon. In the last 30 minutes of the day, the market weakened again…

Taper Fears Dominate Trading

Charles Schaap

On Wednesday, the market opened flat but quickly declined off the open. By the noon hour, the Nasdaq had already fallen -30 points. Price consolidated during the midday, and then the market began to decline again after 3:00 p.m., accelerating into…

A Down Day but No Major Damage

Charles Schaap

On Tuesday, the general market opened below Monday's low and initially got a mild bounce, but then price turned down on higher momentum and the market set a new low for the day. That low was tested two more times and held, allowing the market to…

A Time to be Patient with the Market

Charles Schaap

On Monday, the general market opened the slightly up and meandered sideways throughout the day in dull trading. After the first hour of trading, the high and low for the day were set, and price basically remained inside these early price points for…

Market Rising on Weak Volume and Breadth

Charles Schaap

Last week was all about Friday. On Monday through Thursday, the S&P declined for 4 consecutive days (5 if you include Friday, 29 November). But on Friday, the market got good economic news, so the market opened up and held its gains throughout the…