Daily Analysis

Another down day in the markets today which we find quite surprising. But despite the attempts of bears to drive this market lower, there is quite a bit of resistance on the part of the bulls. The Nasdaq is showing an incredibily difficult time with breaking the 200-day moving average. However, once solid piece

August 12, 2008 To say the least we were destined for today’s pullback. This was a textbook pullback in that the action was mild, and the volume was miserably low – all positives for the bulls. Worries concerning financials resurfaced, with some dour news out of JP Morgan (JPM). However, none of it was

August 11, 2008 Solid day for the indices – bulls showed what they haven’t showed in a long time and that is the desire to buy the dip. Tech is leading the way as the chip sector showed incredible strength. In the short-term the techncal picture is looking solid and continues to build on its

August 8, 2008 For the sake of the bulls, today is the most significant day in the markets since the March time period earlier this year, when Wall Street finally put together a descent multi-month rally. Today the S&P and Nasdaq both saw important breakthroughs of overhead resistance that cannot be ignored. Financials are

August 7, 2008 You figured this was bound to happen. Another piece of negative news would creep up and spook the markets once again. Today it happened and from an unlikely antagonist: Wal-Mart. No one really expects Wal-Mart to face the kind of problems that other retailers are wrestling with; in fact, many expect the

August 6, 2008 This was an important day for the markets. After yesterday’s huge 3% rally, the indices managed to fight off the efforts of the bears to drive stocks lower, and instead, actually finish in the green across the board. The Nasdaq, which broke out of its trading range actually put on another

August 5, 2008 To say that the Fed whispered something sweet in the ears of the market is an understatement. All the major indices made gains in the range of 3%. Nasdaq closed at new highs on its current trend which is now the higher high that we were looking for. The S&P found

August 4, 2008 Moderate day to the downside for the major indices. Interesting phenomenon though occurred today, and that is, the markets were unable to rally despite the price of oil dropping $4.23/barrel. Anytime before, the market would have seen probably 1% – 2% to the upside. But it didn’t. Instead we saw the

August 1, 2008 Comparatively speaking, today’s market action was pretty mild. We had a mixed jobs report, but the market was hoping for more. That is why we were saying in yesterday’s market analysis, don’t expect too much from the report, because there was way too much optimism going in to today. As a result,

July 31, 2008 Down a bunch, up a bunch, up a bunch, and down a bunch. That’s the best way to describe the market’s action this week, which leaves us scratching our head as to what Wall Street will deliver tomorrow. Up to this point we are pretty close to break-even for the week across