Recent Blogs Posts

Originally Posted by coolhand

After putting some gains together earlier in the week, the market pulled back a bit today, which does nothing to hurt the uptrend.




Both charts still look good as price continues to whittle away at yearly losses. The 200 dma is really not far off and is almost certain to get tested.



Breadth remains bullish.

The big news of the

...

Stocks seem to be in that euphoric phase again, at least in this cycle of the bear market rally. The Dow rallied back again after the small losses on Tuesday, and it is making it tough for most investors to sit back and watch, so the fear of missing out rally continues during this historic bear market rally. We saw to 2% to 4% gains in most indices triggered by earnings, Gilead's positive data on its coronavirus drug, and they kept sailing after the Fed's accommodating press conference.
...

Originally Posted by coolhand

The 3rd up-leg continued today with price closing with solid gains.




We can see that price is now making a run toward the 200 dma on both charts. Momentum is rising and volume was robust.



Breadth is looking very good and remains solidly bullish.

It will be interesting to see what the next NAAIM reading will be, which is tomorrow.

...

Stocks flip flopped on Tuesday although the results were very mixed. The indices opened sharply higher, but posted the highs of the day in that first hour of trading, then drifted lower as the day went on. The Dow lost just 32-points, but that was 400-points off the highs. Small caps and the Transports led on the upside while the S&P and Nasdaq also fell into negative territory after a push to the lows in the final hour of trading.

...

Another day, another rally as stocks continue their climb off of the March lows. The Dow tacked on 359 more points and there were few weaknesses out there, unless you include the price of oil, which was crushed again, yet stocks ignored it. Is it just momentum, or can the stock market continue to climb with the obvious signs of economic destruction?

...