Stocks Close Near Their LOD But Lack Of Volume Indicates There Is Still No Distribution Since The 11/28 Follow-Through; IBD 100 And 85-85 Finish In The Green

December 3, 2007 | 4 Comments

Stock indexes started the day off in a nice steady slow trend higher. But around 1PM on the east coast, stocks decided to put in their highs and subsequently sold off the rest of the trading session closing near their lows. I saw some talking heads indicate that we have seen the top and saw others say that they were more bearish than at any other time since 2000. However, RIGHT NOW, I don’t see it, because I follow the general trend of the market and right now the trend is up.

Posted by Joshua Hayes | Filed Under Free Commentary

Today Was The Exact Opposite Of Yesterday, As The Market Stages One Ugly Reversal; Mixed Volume Leaves Things A Bit Ambiguous.

January 26, 2007 | Leave a Comment

After such a nice day yesterday, where the Nasdaq bounces right off its 50 dma, the last thing you want to see is an immediate reversal; well that is what we got. Stocks almost gave back all of yesterdays gains in the Nasdaq and gave all of the gains back in the SP 500 and DJIA on a report on existing-home sales. This along with a weak response to the 5-year note auction helped slam stocks. Read more

Posted by Joshua Hayes | Filed Under Free Commentary

Afternoon Rally Gives Stocks Support, Off Of Yesterday’s Selloff; Nasdaq Holds Its 50 DMA, SP 600 Regains Key Line.

January 20, 2007 | Leave a Comment

Stocks were able to find some support, yesterday, after a nasty selloff on Thursday did some damage to stocks. IBM started the day off wrong when its stock gapped down over 3.5% and put pressure on the indexes. However, a late afternoon rally, for no apparent reason, helped lift the SP 500 and Nasdaq to a positive close. Read more

Posted by Joshua Hayes | Filed Under Free Commentary