Tag: Bitcoin (BITSTAMPUSD)

On Monday, Pfizer's news that the COVID vaccine it is developing with BioNTech was more than 90% effective in a trial pushed stocks to record levels with all three of the major indexes triggering new green weekly Trade Triangles indicating that long positions could be in order. But after that significant move higher, the market came back to earth a bit with mid-week weakness.

However, the indexes end the week on a high note with the DOW gaining +1.3%, S&P 500 +1.1%, and the NASDAQ will post a daily gain of +.63% on the day.

The DOW leads the pack with a weekly gain of +4% as investors dumped tech and bought the cyclical stocks that would benefit from an economic comeback next year. The S&P 500 gained +1.9% on the week, and the NASDAQ was unable to get into positive territory, losing -.78% for the week. Continue reading "COVID Vaccine News Boosts Stocks" →

By gaining an impressive +7.1% for the week, the S&P 500 will post its best election week gain since 1932, where it gained +11.6% when Franklin D. Roosevelt defeated President Hoover in 1932. Not to be outdone, the DOW will also post a weekly gain of +7%, and the NASDAQ will lead the pack with a gain of +8.8%. But even with these gains, all three indexes have yet to trigger new green weekly Trade Triangles signaling a move back to long-term long positions.

Will Friday's pause lead to a sell-off net week, or does the stock market move higher from here?

As the election results continue to drag out, the dollar came under attack, going -1.7% on the week, triggering a new red weekly Trade Triangle indicating that a move to a long-term downtrend could be gaining strength. That move in the dollar proved to be a positive catalyst for gold, which posted its best weekly gain since July of 2019, posting a gain of +4%. Continue reading "Best Election Week In Decades For S&P 500" →

As we head into Friday afternoon trading and the last trading day of October, the stock market is headed for its worst week since March of this year. Why? There are a few reasons, it's been a difficult week in which coronavirus cases are on the rise both here in the U.S. and Europe. U.S. fiscal stimulus talks broke down in Washington D.C. and traders are bracing for volatile swings during next week's election. How long do you think this volatility will last?

On a weekly level, all three indexes are having their worst week in 7 months. The S&P 500 will post a weekly loss of -6%, the DOW's loss stands around -7%, and the NASDAQ will post a loss of around -5%. Continue reading "Stocks Have Worst Week Since March" →

We are exactly one week away from the 2020 Election, and we have seen a serious spike in COVID-19 infections not only in the U.S. but around the world, which has led to a spike in market volatility.

If you have your Trade Triangle alerts set for the major indexes that we track, you were alerted on Monday that the DOW issued a new red weekly Trade Triangle when it fell -2% on the day, signaling that it was time to head for the sidelines. The S&P 500 and NASDAQ joined the party today, with both indices issuing new red weekly Trade Triangles and falling over -2% on the day. Continue reading "Trade Triangles Signal Volatility Ahead" →