WEEKLY MARKET OVERVIEW Another strong week for the markets with S&P500 (SPY) and Dow Industrial (DIA) pushing to fresh new all-time highs, and starting to look very extended on the upside. Mega tech stocks (QQQ) have been the weekly leaders and now are about to test resistance at former all-time highs. Small caps (IWM) have …
WEEKLY MARKET OVERVIEW Inside last Weekly Report I wrote: “with most indices in overbought territory, some sort of consolidation or minor pullback would be normal and acceptable.” This is exactly what happened this week with the S&P500 (SPY) pulling back to oversold territory and just above the trend line that has been holding as support …
WEEKLY MARKET OVERVIEW After a few tough weeks bulls look to be back in control and pushing most indices to new all-time highs. Despite the overall market recovery, mega tech stocks (QQQ) are still lagging with money rotating in other areas such as industrial (DIA) and small caps (IWM), both exploding to the upside. Next …
WEEKLY MARKET OVERVIEW Last week the market reminded all participants that prices can’t go up in a straight line. The gap down at the opening on Wednesday and subsequent sell-off throughout the session have been the first signal that the recent uptrend was due for a break. After a failed rebound attempt on Thursday, more …
Overall in the second week of 2021, the markets have been consolidating. On Friday we saw a pullback attempt with most indices gapping down at the opening but recovering most of the losses by the close. Mega-tech-stocks (QQQ) have been lagging while small caps continued to push to new all-time highs being once again the …
Finally, Thursday was a red day with selling pressure during the entire session and in most areas of the market. Anyway, looking at the SPY chart we can see at last candle as just a small pause on an otherwise positive trend. On the other hand, small caps (IWM) are continuing the run on the …
Tuesday has been another day of choppy price action with most indices going flat for the day except small caps (IWM) that once again pushed to new all-time highs with a solid green candle. Mixed behavior between major stocks with a pocket of strength inside industrial and energy sectors. TSLA is still trading in its …
Not much to say for Thursday’s trading session rather than market participants quickly forgot Monday’s selloff and the tragic news from Washington. Most mega-tech-companies recovered in full from recent weakness and were between the strongest stocks of the day. The only negative aspects I can notice are the red candles just before the close (quite …
Wednesday was a very sad day for the US democracy due to the attack on the Capitol. Anyway, the stock market barely took notice of it. After a positive day, the shocking news coming from Washington only led to a partial pullback in the last couple of hours of the session, followed then by a …
