Hello SpikeTraders,The Dow Jones Industrials closed higher while the Nasdaq and S&P500 closed mixed with the Naz down and S&P marginally up. Better than expected earnings from large retailers was a positive and helped keep market in over bought territory. Let’s look at the charts…
Hello SpikeTraders,Markets closed higher continuing the rally as investors are hoping the Federal Reserve can achieve a soft landing for the economy and begin to pull away form raising interest rates. Signs that inflation may have peaked in July is helping investors feel the worse is maybe behind us. The S&P500 remains down about 10% since end of last year. Let’s look at the charts…
Hello SpikeTraders,Markets have been in rally mode since mid-July, although many traders and investors have distrusted the rally’s strength, typical during trend changes. Those that have sold have sold out, and it takes little buying demand to push prices higher. Due to many investors being nervous about stepping into the market as buyers again, there are fewer potential sellers. There are very few restless hands to sell on the first sign the rally is stalling. Only stronger hands hold the stock, supply is depleted, and no new anxious holders have shares to sell at the first bump in the road. Are the bear market on the cusp of confirming it’s over and a new uptrend is ahead? Let’s look at the charts…
This week Nick V. wins Gold with a 3.70% gain trading long TAP, Louis C. wins Silver trading long RYTM with a gain of 3.35%, and Daryl H. wins Bronze with a gain of 2.87% trading short SHOP.
Hello SpikeTraders,Markets closed lower after weak outlooks from chip makers stocks. Investors will be focusing on inflation data tomorrow. High inflation numbers on after last week’s strong jobs report, will confirm that the Fed will continue to hike interest rates and not ease off from an increase any time soon. The markets is trying to decipher if the slowdown will be mild or a significant recession is near. Let’s look at the charts….
Hello SpikeTraders,Markets closed mostly flat after giving up early gains. August typically is one of the lowest volume months for the markets as many take late summer vacations. Let’s look at the charts….
Hello SpikeTraders,Markets have been in rally mode for the past couple of weeks with the S&P500 moving up to its daily 3-ATR channel. Markets tend to form a bottom when the outlook remains bleak. The continued worry of inflation and the Fed increasing rates that may push the economy into a recession, if we are not already in one continue to weigh on most investors/traders minds. The market had already priced in these events to some degree and it becomes a question whether these events unfold better or worse. The intermediate trends remain down while the short term trends have turned up. As the markets find upper resistance levels we will want to be very watchful of the support levels the market must hold for this rally to continue and eventually have a chance to change the intermediate trend from down to up. Let’s look at the charts…
This week Igor D. wins Gold with a 14.48% gain trading long GTLB, Louis C. wins Silver trading long ASRT with a gain of 3.95%, and Rich N. wins Bronze with a gain of 3.35% trading long RAD.
Hello SpikeTraders,Markets continued their pullback, closing lower as the Dow Jones Industrials closed the weakest, closing down over 400-points. The S&P500 and Nasdaq Indexes closed marginally lower. Let’s look at the charts…
Hello SpikeTraders,The S&P 500 closed marginally lower today after having its best month since 2020. The Nasdaq also closed marginally after rallying as much as 1.1%. All three major indexes traded in choppy trading today. Let’s look at the charts..