Last week the market continued its uptrend and this is reflected in the current trend analysis, which remains positive for most equities. And so far, the market has offered few opportunities to jump on board at lower prices.
For example, for most of last week I had limit orders in place to sell puts on [...]
Last week saw the large-cap blue chips decisively reverse their previous week’s nosedive and follow the tech stocks higher. In fact, by the close of trading on Tuesday it was clear that the overall market was resolving to the upside. It’s no surprise then that the current weekly trend analysis is now positive on all [...]
As shown by the current trend analysis, last week’s U-turn in most of the major indices erased the positive bias that had appeared in the previous week’s trend analysis, with one major exception – the technology-heavy NASDAQ index. This is underscored by the almost unanimous green “all clear” signals currently showing on most of [...]
Does last week’s rally signal the beginning of a move to new market highs, or is it only a set-up for a further decline to new lows? As interesting as it may be to speculate on the market’s ultimate direction from here, a more important question remains.
The market’s recent strength proved enough to [...]
I sold a few May puts on Verizon (VZ) today as it was selling off on the news of its successful bid to acquire MCI (MCIP). While not exactly a compelling buy based on its longer-term technical performance, it has been showing some signs of life recently (see the most recent blue chip weekly [...]
If you thought the market seemed choppy lately, you’re right. During the last nine days the major indices have alternated between up and down days, leaving the S&P 500 within five points of where it began. To me this continues to suggest a consolidation of the current intermediate trend – which, according to [...]
