Recent Blogs Posts

Originally Posted by coolhand

A headline I just saw late this afternoon said that the market just closed out the best quarter in decades. I would not have expected that if I wasn't told.

https://www.cnbc.com/2020/06/30/stoc...lose-news.html

The bulls kept it going today as price closed out with decent gains.




Price is now in the middle of the current short term range.

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Stocks bounced back on Monday after last week's sell-fest, which we have been assuming was a required seasonal pension fund rebalancing as we head into the new quarter. Volume was light again, also suggesting that these large pension funds may have completed, or nearly completed, their selling. The Dow gained 580-points, while the large tech stocks lagged and small caps led the TSP Funds.

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Originally Posted by coolhand

Yesterday, I said that since price fell (closed) below the 200 dma that the bulls may mount another upside attack. Sure enough, the week started out with a rally that pushed price back above the 200 dma. Maybe there's more.




So, price has now closed above the 200 dma on both charts, but not by a lot. Momentum has not yet turned back up either, but it's a start if the bulls continue to press. I still think

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Stocks failed to follow through on Thursday positive reversal day, and instead rolled over and basically repeated Wednesday's 700+ point sell-off. Trading volume was elevated possibly suggesting it was another day of pension fund rebalancing. The Dow lost 730-points and the selling was broad, sparing few sectors. The charts are now testing some crucial support levels.

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Calendar Source: https://www.marketwatch.com/economy-politics/calendar