Archive for category: Market Commentary

What A Ride

What A Ride

Friends It looked like the bulls had broken free from the recent resistance levels for most of the trading session, as the S&P was forging new highs and making things very uncomfortable for the bears. But continued bad news out of Ukraine’s Crimea finally dampened traders enthusiasm and stocks...

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So Close

So Close

Friends We have been discussing the important resistance level of 1848 to 1850 on the S&P 500 for the last week or so, and the bulls took a run at and were able to penetrate that level in today’s session. Stocks rocketed to early gains with the S&P touching...

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Stocks Recover Nicely

Stocks Recover Nicely

Friends Another interesting day. Stocks once again seemed to ignore the daily drumbeat of negative economic data (today’s being the negative Philly Fed Survey, although to be fair Leading Indicators were ok, PMI Manufacturing Index Flash was too). Regardless, stocks shrugged off yesterday’s ugly reversal day and forged higher...

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Quiet Drift

Quiet Drift

Friends The markets were open today, at least I think so. In one of the least volatile days we have experienced in years, stocks flat-lined for about 6 and half hours. The economic data continues to deteriorate (now you can decide whether the soft data is due to the extreme...

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The Rally And The Setup

The Rally And The Setup

Friends The negative economic data continues to pile up, with today’s Industrial Production number being the latest disappointment (consumer sentiment did however hold steady). Nevertheless, stocks continued to climb (are we climbing the wall of worry once again?), despite all the negative news, not the least of which is...

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