Market Wrap

August 25 Market Wrap — A 1-day rally makes a bullish week

Monday’s consolidation was followed by a strong rally on Tuesday which was then followed by three more days of choppy consolidation. Trading volume for the week was low, including Tuesday, and it seemed the market was waiting to get through the Jackson Hole meeting to see […]

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July 21 Market Wrap — Bulls get another bullish opex week

We have some mixed messages from the different indexes but that’s usually the case. If they all agreed and we had a slam-dunk setup for a trade you can usually be safe betting the other way. We also had opex influence, which is typically bullish, and that might have been […]

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May 13 Market Wrap — Selling in May

Oftentimes a common expectation becomes a self-fulfilling prophesy and the “sell in May and go away” is one of those common expectations. Many have argued that it’s simply a self-fulfilling prophesy and in this day and age it could very well be. But it has agricultural […]

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May 7 Market Wrap — Bullish follow through (so far)

There’s very little to add to what I covered in last night’s wrap and this morning’s updates so this will be a short update. The bulls got their follow through this morning (after a bit of hesitation and a new overnight low in the futures) and that makes Wednesday’s lows […]

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February 2 Market Wrap — Bulls held the line

Equity futures had started to rally Sunday night, as they usually do, but then started chopping up and down in a widening pattern after the European markets opened and that volatility only got worse during our trading day. We started the day slightly positive but it was quickly followed by strong spike […]

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January 28 Market Wrap — Another day, another reversal

Following Wednesday’s strong selling right into the close there were signs of capitulation (high TRIN, VIX spike, but divergent new lows vs. new highs), which has often led to a strong reversal the next day. On top of that we had a post-FOMC selloff and that move is typically reversed the next day. But […]

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January 28 Market Wrap — More disappointment from central banks

It turns out the stock market wasn’t happy with the ECB’s QE plan and then showed more disappointment this afternoon with the FOMC announcement. Are the central banks losing their mojo? The euphoria that followed last Thursday’s announcement by the ECB lasted that one day. The market sold off a little […]

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January 27 Market Wrap — Another whippy day

Several earnings reports from some big international companies, which have been hurt by the strong dollar, as well as more warnings about the negative impact of lower oil prices, spooked traders during the overnight session and equity futures opened this morning with a large gap down. The DOW […]

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January 26 Market Wrap — Trying to hold up

Following the weekend election results in Greece, where the anti-austerity Syriza party won, there was great concern about what it could do to their continued membership in the EU. And of course that starts the wringing of hands and gnashing of teeth over worry whether this will be the start of the […]

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