Tag: DOW (INDEX:DJI)

Hello traders everywhere. The Monday morning market rally in the U.S. market faded as we entered afternoon trading with evaporating tech gains leading the way which leaves the Nasdaq on track for its the worst monthly loss in ten years. The NASDAQ had been up as much as 1.7% on the day before Netflix (NFLX), and Amazon (AMZN) collapsed, both falling over 3% on the day.

However, the S&P 500 and DOW are back in positive territory for the year, if only just and albeit off their session highs. Although the stock market is in positive territory, for the most part, the S&P 500 hasn't had back to back daily gains all month, and that's been rare for the DOW.

If this Monday morning market rally can make it to the end of the day will it continue into tomorrow? Or will the pattern repeat?

Key Events On Tap This Week:

Continue reading "Monday Morning Market Rally Fades" →

Hello traders everywhere. For most of the year, the tech sector was the belle of the ball and the one sector that was driving the stock market to record highs. But this dance may be coming to an end as we enter the fall earnings season. The S&P 500 is poised to enter into correction territory joining the NASDAQ after earnings reports from Alphabet and Amazon fell short of expectations.

Amazon (AMZN) tumbled over 8% after it missed quarterly sales estimates and gave a below-par holiday-season sales forecast, that sparked a 3% plunge in the S&P consumer discretionary sector. Alphabet (GOOG) sank 4% after its revenue missed estimates, refreshing concerns that regulatory scrutiny and competition could slow down its scorching pace of growth.

It's been quite a week for the major indexes with wild swings higher and lower, but at the end of the week, all three indexes are going to post deep losses and resuming the current downturn after a brief respite last week. The S&P 500 will post a weekly loss of -3.5%, the DOW -2.5% and not to be forgotten the NASDAQ will post a weekly loss of -3.2%. Continue reading "Tech Losses Continue To Weigh On Market" →

Hello traders everywhere. As the slide to lower levels continued on Wednesday, I couldn't help but notice that these current levels looked familiar to me, so I did some investigating. I started by looking at yearly charts for the three main indexes, and it became quite clear as to why those levels looked familiar. As it stands, the S&P 500 is only 19 pts away from the opening of trading on Jan. 2, 2018 where it opened at 2,683.73, currently trading around the 2700.00 level. The DOW is only 180 pts away for it's yearly open at 24,809.35, currently trading around the 25,000 level. Meanwhile, the NASDAQ has quite a bit more room between its current trading levels at the 7,200 range and its yearly open of 6,937.65 or 332 pts. But the way it's been getting hammered lately case in point today, it won't take long for it to reach that level if the slide continues.

Does this mean that all of the record highs that we've seen this year are all for naught?

Key Levels To Watch This Week:

Continue reading "All For Naught When It Comes To Stock Market" →

Hello traders everywhere. The stock market opened in positive territory Monday morning riding the coattails of a rising Chinese market only to slip into negative territory shortly after the open once corporate earnings started rolling in.

The Shanghai Composite Index rose more than 4% to score its best day since March 2, 2016. The quick move higher comes after Chinese authorities pledged to support China's economy and offset the negative impact of U.S. tariffs. They made that pledge after reporting weaker-than-expected economic growth for the second quarter. Despite the big daily move, Chinese stocks are still down sharply for the year. The Shanghai Composite Index has fallen about 20% in 2018 and is down over 21.4% in the last twelve months.

Some disappointing earnings reports have not helped the market's mood ahead of what is expected to be the heaviest earnings week this season. Investors are nervous about the outlook for future growth due to concerns over trade and tariff's, rising costs and other factors. Continue reading "Stocks Waver Ahead Of Earnings" →

Hello traders everywhere. It's hard to believe but as I write two of the three indexes are in positive territory for the week. Mid-week it looked like the stock market may be in rebound mode, only to fall close to the levels that we saw last week at weeks end and ultimately unable to break away from the 200-day moving average. The indexes look to be set up to retest the low levels from last week, and that could form a double bottom, much like the one we saw in April of this year.

The 200-day MA has proven to be a strong level of support this year rejecting several attempts by the market to break it, only to see the market bounce higher after each attempt. Will that trend continue?

As crazy as it might seem even with this week's volatility both the S&P 500 and DOW are looking to post weekly gains of +.2% and +.4% respectively. However, the NASDAQ isn't playing along, and it is posting its third weekly loss in a row standing at -.4%. Continue reading "Indexes Fail To Break Away From 200-Day MA" →