ProTrend ProFiles

S&P Slides for 5th Consecutive Day

Charles Schaap

On Thursday, the Dow and S&P both declined for the 5th consecutive day. The Nasdaq recorded its 3rd down day out of the last 5. But volume was lighter than Wednesday, and price did not decline below Wednesday's low. The price action was more of a…

Market Whoop-de-doo Day

Charles Schaap

Wednesday was a "woop-de-doo" day, and you needed a well-fastened seat belt on your trading desk chair. The market opened slightly lower, retesting Tuesday's low. Around 10:00 a.m., the market suddenly surged higher; the S&P rose 11 points in about…

Market Closes Off its Lows

Charles Schaap

On Tuesday, the general market opened weak and deteriorated throughout most of the day. However, by 2:30 p.m, the market found support and managed to close up off the lows. The Nasdaq closed down -8 points (-0.20%), the S&P lost -5 points (-0.32%)…

Market Susceptible due to Weak Breadth

Charles Schaap

The Nasdaq Composite was able to extend its winning streak to 6 consecutive up days. The index closed at 4,059, up +1.71% for the week. The S&P traded mostly sideways last week but was able to remain above the 1,800 level by 5 point; it finished the…