Testing 1,2,3….
Waiting for a sharp reflex rally to wash the shorts out of this downtrend. We’e in just the spot as major indexes test lows made last summer.
Author: GSRTrades
First Challenge
Major indexes are giving Obama the middle finger this morning. We’ll wait for the week to be over before looking for the truth in trend.
Holding Pattern
We won’t try to discern market trend until after the election. Tomorrow…
Counting Down
Stock market volatility may set in as the U.S. goes into pre-election mode. While Romney is commonly believed to be better for business, he also brings uncertainty over Federal Reserve policy. Markets don’t like uncertainty. Read More …
The Upside
We’re on the lookout for a Follow Through Day in the form of heavy institutional buying to indicate this rally is more than just a bounce in the correction. Providing recent lows stick, Bulls want Read More …
It’s Not What You Think
Nothing in the charts suggests the market is altering its latest southern course. Semiconductors have been the bellwether to this correction, which is typical. We might expect to see them reverse course ahead of the Read More …
Red Flag Finish
The third day of distribution in the last four sessions has us hoisting the Red Flag for a Sell Bias. We’ve been prepared to do this for weeks as we’ve been calling for defensiveness with Read More …
Crumbling Cookies
Our pocket of strength in Growth Stocks poised to breakout has crumbled. Add in another round of distribution in the major indexes, we’re Bears now. But we’ll wait to see if we don’t get a Read More …
Earnings Outlook By Sector
Not a big fan of ratings agencies, so take with a grain of salt. What this tells me is Wall Street analysts, advisers etc. have reason to be bullish for next year.
Strength Holds Ground
An abundance of top Growth Stocks with bullish charts is a pocket of strength in this broader market correction. The stocks we’re adding today, in no particular order, are telling us the bigger picture Bull Read More …
Big Fat D
A major round distribution for the Nasdaq, and a less intensive one for the S&P 500, means we’re not confident for the upside potential of this market. We don’t lower our bias to Sell unless Read More …
Breakout Potential Continues
Here’s another crop of top-ranked Growth Stocks in weekly chart format: