The Selling Continues With Stock Market Indexes Closing Near Their LOD; Charts Can Definitely Make A Difference!

December 15, 2007 | 1 Comment

Friday’s selling came on lower volume but one thing was very clear by the end of the day. The bulls have absolutely no juice and if a gigantic multi-Fed driven liquid injection in the market can’t keep the market up, I am not sure what people think will keep it up. Everyone knows that I only follow the charts to make my trades. And you better believe that is the truth. But sometimes you can look at the macro economy and combine what you see with charts to give you even more conviction than you normally would have with just the charts.

Posted by Joshua Hayes | Filed Under Free Commentary

IBD 100 And IBD 85-85 Are Officially In A “Confirmed Rally”; Excellent Price Action Today Signals Bulls Have Indeed Regained Control Of The Market On The Short-Term

November 29, 2007 | Leave a Comment

The one thing this market should be teaching everyone right now, no matter if you are new or experienced is that it is always silly and stupid to marry either the bullish or bearish side. What we are seeing right now is a stock market that is going to do its best to make sure every single trader out there who is either a perma-bull or a perma-bear gets washed out by the wild (nothing compared to 2000-2002) crazy market.

Posted by Joshua Hayes | Filed Under Free Commentary

Stocks Close In The Green But Fail To Recover Much Of The Severe Losses From Yesterday; Where Did All The Nice Charts Go?

March 1, 2007 | Leave a Comment

Stocks gapped higher in the morning but soon lost those gains, off the back of three weak economic numbers. First Q4 GDP came in with a final revision of a 2.2% gain. That was much lower than the initial 3.5% reported and below 2.3% estimates. Then new home sales came in with a Y over Y fall of 16.6%. That was the worst fall in 13 years. Finally, the Chicago PMI fell to 47.9, below the neutral 50 mark, signaling that the factory sector is slowing down. However, Ben came to the rescue, with comments that the economy was “fine” and that the economy is showing “moderate growth.” This helped lift stocks off the lows, leading them to green closes. The tame gains, compared to Tuesday’s losses, however, shows that yesterday’s losses were more than just a one day “mistake.” This had to be disappointing to market bulls, even though they will not tell you it was.

Posted by Joshua Hayes | Filed Under Free Commentary

Happy New Year!; Markets Produce A Distribution Day On The Last Trading Day Of 2006.

December 30, 2006 | Leave a Comment

Happy New Year!; Markets Produce A Distribution Day On The Last Trading Day Of 2006.
THIS IS THE VERY LAST FREE “DAILY MARKET ANALYSIS and NEW SWING LONGS/SHORTS” POST ON THIS BLOG.

On the very last trading day of the year, stocks decided to end the year on a slightly nasty note, offering distribution days across the board. There was no news catalyst on this Friday the last trading day of 2006. The only possible reason for the selling that was floating around the street was the fact that traders might not want to be long over the long weekend. My question is: wouldn’t they also not want to be short? Oh well.

Posted by Joshua Hayes | Filed Under Free Commentary