This was a great day for the bulls. Not only was every sector higher on the day but the Nasdaq and Russell 2000 closed solidly above their 200-day moving averages. The Russell is now less than 1% away from erasing all of its 2008 losses. The other indices are 4 to 5% away from the [...]
Posted by 5 June 2008
Watchlist for June 5, 2008
The Nasdaq has touched and/or crossed its 200-day moving average each of the last 5 sessions. It looks like it may try to cross it again early in today’s session. But it’s also found support at its rising March trendline the last two days. So we’ve got another of those situations where one of the [...]
Posted by 4 June 2008
Watchlist for June 4, 2008
Sellers are continuiong to pressure the market this morning. Besides tracking LEH like a hawk, I’ll be watching yesterday’s lows for potential support. On Today’s Calendar: 10:00 — ISM Services 10:30 — Crude Inventories More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic Potential swing trades:
Posted by 2 June 2008
June 2, 2008 Stock Market Recap
Note: I have an appointment in the morning so there won’t be a watchlist tomorrow. It was a broad-based selloff today. The only sectors that were up were oil, natural gas, commodities (basic materials) and hospitals. The networking, airlines and broker dealers sectors took the brunt of the selling. The indices are once again perched [...]
Posted by 2 June 2008
Watchlist for June 2, 2008
We’ve got a lot of economic data due out this week, culminating with the jobs report on Friday. Perhaps all of the data can help the S&P to reclaim its 200-day moving average like the Nasdaq did last week. On Today’s Calendar: 10:00 — Construction Spending 10:00 — ISM Index. More Calendars: U.S. Earnings | [...]
