Tag: DOW (INDEX:DJI)

Hello traders everywhere. The stock market is stumbling into the finish of the week ending a five-day win streak. But overall it will finish up for the week making this the third straight week of positive gains. Reason for the weakness today, China and the government shutdown that doesn't seem to be ending anytime soon.

All three major indexes are ending the week with positive gains. Both the S&P 500 and DOW are posting gains of about +2% for the week, but both indexes are still waiting for the green weekly Trade Triangle to appear signaling a move to the sidelines. The NASDAQ did issue a green weekly Trade Triangle this week and will end the week with an impressive +3% gain.

The U.S. Dollar continues to be under pressure dropping -.64% on the week making this the fourth straight week of declines.

Crude oil has had another monster week posting a +7% gain for the second week in a row. However, much like the overall stock market, it is down about 1% on the day. This drop comes after nine straight days of gains and is most likely just some profit taking by traders. Continue reading "Stock Market Stumbles Into The Finish" →

Hello traders everywhere. Stocks are on the rise for the fourth straight day which is mostly due to signs of progress in U.S.-China trade talks which has given the market optimism. Officials from the United States and China ended their talks in Beijing that lasted longer than expected and officials said details will be released soon, raising hopes that an all-out trade could be averted.

Hopes of a trade deal between the world's two largest economies, strong U.S. jobs data and Federal Reserve chair Jerome Powell's dovish remarks on interest rates have helped lift the S&P 500 9.7% from the 20-month low it hit around Christmas, but we're still waiting on a green weekly Trade Triangle which would indicate a move to a sidelines position. The NASDAQ just issued a new green weekly Trade Triangle moving to a sidelines position. The DOW is currently about 54 pts away from issuing a green weekly Trade Triangle, will we see that today?

Crude oil is up for the eighth session issuing a new green weekly Trade Triangle today at $51.78 indicating that a short-term long position is in order. Traders shrugged off bearish data on U.S. stockpiles focusing on OPEC production cuts and U.S.-China trade talks. Saudi Energy Minister Khalid al-Falih on Wednesday reaffirmed that production will fall to 10.2 million barrels per day this month, down from an all-time high 11.1 million bpd in November. Saudi Arabia will export 7.2 million bpd in January and 7.1 million bpd in February, according to Falih. Continue reading "Stocks Up For The Fourth Day" →

Hello traders everywhere. All three major indexes are looking to finish the week on a strong note and post back to back winning weeks for the first time in nine weeks. The reason for the surge after a terrible day on Thursday, jobs.

Nonfarm payrolls jumped by 312,000 jobs last month, the largest gain since February, as employment at construction sites snapped back after being restrained by unseasonably cold temperatures in November.

There were also broad gains in hiring last month. Data for October and November were revised to show 58,000 more jobs added than previously reported. The economy created 2.6 million jobs last year compared to 2.2 million in 2017.

Average hourly earnings rose 11 cents, or 0.4%, in December after gaining 0.2% in November. That lifted the annual increase in wages to 3.2%, matching October's rise, from 3.1% in November. The average workweek increased to 34.5 hours in December from 34.4 hours in November. Continue reading "Market Rallies On Strength Of Jobs Report" →

Hello traders everywhere. Whew, what a week! We went from having the worst Christmas Eve trading day ever when the DOW lost over 600 points trading below 22,000, and the S&P 500 entered a bear market to have the best post-Christmas trading day ever when the DOW skyrocketed more than 1,000 points on Wednesday, the largest one-day point gain in its history. The S&P 500 gained 4.96%, its best day since March 2009 and the NASDAQ also had its best day since March 23, 2009, surging 5.84%.

Thursday was not to be outdone when early trading saw a widespread sell-off with the DOW trading down over 600ptt only to see furious afternoon buying action pushing the DOW into positive territory to end the day, which has extended into today with all three indexes looking to close out the week on a three-day winning streak. All three indexes seem to be ending a three-week streak of losses with gains this week. The S&P 500 is posting an increase of +3.3%, DOW +3.5% and the NASDAQ with a +4.3% gain.

Key Levels To Watch Next Week:

Continue reading "Stock Market Ends Volatile Week Higher" →

Hello traders everywhere. There is no doubt that this week has been brutal for traders with the stock market posting one of the worst weeks of the year. You only have to look at the DOW, and it's over 1300 point loss on the week for evidence. The DOW and S&P 500 will close down around 6% on the week. Both indexes are in corrections, and both are on track for their worst December performance since the Great Depression in 1931, down more than 11% each this month.

The NASDAQ is having it's worst week in nine months losing over 7% and officially entering a bear market. It's actually trading at a new fifteen-month low. With that move lower we finally got the red weekly Trade Triangle that we've been waiting on. The NASDAQ has now joined the DOW and S&P 500 with negative long-term downtrends. It looks like that death cross may have been right after all.

Key Levels To Watch Next Week:

Continue reading "Brutal Week Comes To A Disappointing End" →