Another mixed picture for the markets this week. Of most immediate concern is last Thursday’s downside reversal on the daily charts, which – if it’s not soon reversed itself – could portend a short- or intermediate-term top.
On the other hand, market action still has yet to convincingly demonstrate that the current choppiness is anything [...]
Last week Jim Cramer said boo(yah) and tech stocks – which had only just recently been showing renewed strength – promptly reversed course, giving up their recent gains. Whether Cramer’s call to sell tech actually had anything to do with the downturn, or whether the sell-off was options expiration related or due to other [...]
The market’s move to the upside this past week has resolved the question of whether its recent weakness was just consolidation or something more serious in favor of the former. Positive signs include the cancellation of some of the negative divergences in the technical indicators, and the out-performance of the technology sector, as represented by [...]
Most major market indices remain in a corrective mode, but have not yet tipped their hand as to whether this is just a short-term consolidation in the intermediate-term uptrend or the beginning of something more significant. The weekly trend picture reflects this, remaining mixed to negative, with only the Nasdaq and the Hong Kong Index [...]
