Category Archive

If you were a bull, you must have been excited to watch the rally unfold as all major market ETFs gained strongly. But, what starts well does not always end well. This was the case today, as the morning rebound succumbed to profit taking in the afternoon in anticipation of what the Fed might announce tomorrow. Will it be the …

After last week’s sharp rebound, equity ETFs were not only overbought, but also ‘over-hoped,’ as one trader put it. Concerns about a Greek default sooner rather than later, due to lack of a new austerity plan, pulled the markets lower right at the opening as selling accelerated. It looked pretty ugly for a while as several attempts to swing higher …

Last Monday, I commented that the S&P 500 has been range trading over the past month from a low of 1,120 to a high of some 1,220. We are now approaching the high end of the range again, and the questions remains as to whether resistance will kick in again at that level or at 1,217, which represents the index’s …

The markets had nothing to go on other than hope and wishful thinking that Greece will be saved and remain in the European Union, while speculation grew that China may throw an assist to Europe’s indebted nations. However, skepticism set in towards the end of the trading day, as cooler heads prevailed by concluding that today may have been just …

European debt worries and bank problems certainly have not gone away; they were merely put on hold today with no negatives hitting the newswires. As a result, the domestic markets seesawed but managed to close higher for the second day in a row. However, the health of a variety of European banks is still of great concern and may come …

You never know if a white knight can suddenly appear with enough powers to pull the major indexes out of a deep hole. That was the case today, as the S&P 500 was bouncing around its major support level of 1,140, which was briefly violated, when news broke that Italy is talking to Chinese Investors about buying some of its …