2/3rds of the market was in the red today as we gave back most of Monday’s gains, on the positive the bulls did regain control in afternoon trading reducing loses and turning a handful green
Very bullish day for stocks lead by Metals and Mining, Lets see if this move has legs, if it does it will be another case of buy the F—ing dip
We ended last week on a down note, lead lower by Financials, but nothing moved much as markets wait results of French election.
Here is my weekly review of the markets
Abandon Baby or breakaway gap, tomorrow should tell us which way this market goes from here
A little bit of profit taking in the last hour of trading put still second best day of the year, and only 2nd time this year that both S&P and DOW had a gain of over 1%, Financials lead market and only the Reit’s were down. as stated in my last post, there is a lot of uncertainty in this market
Nasdaq above 6,000 , DOW up over 1% for second straight day, If market can hold on to these gains then all is well in Stock land
Another opening gap higher for the market but not a whole lot after that and there was selling into the close but this could just be profit taking. YTD leader Biotech lead market higher.
Market was mostly positive until again we have a closing hour selloff, Homebuilders and Retail lead the market up while Reit’s lead the market lower
Breakout move for Homebuilders today, up 13% YTD and much more since the November elections
50/50 day in the market with both DOW and S&P up less then 1/10th of 1%, Still we saw Semiconductors breakout to another new all time high and Biotech is up over 20% year todate, If only the energy sector would participate. I guess we cannot have everything. With only one trading day left in the month you should see all major indexes in the green for April
What happen to our rally, overnight trading had the Euro way up and Yen way down, seeing that I was expecting to see another gap open higher, instead we get a flat to a little down open. But that is the nature of this market, As soon as they get you to expect something they change the game
These three companies pretty much run the country, I hate them and hate what they are doing but on a market correction I will be looking to buy them. It is just business
We ended the week on a down note but majority of market ended the month positive with Nasdaq leading the major indexes up for 6th straight month
Stocks were in full bull mode for the week, many new highs, Nasdaq at new all time high, Energy remains in bear mode, Gold pulls back with stocks rising, Surge in Euro but GBP hangs on to top SW spot, Top Strong Weak trade from last week GBPCAD has a nice weekly gain.
All this and more covered in my weekly market review video
Mixed day with top ranked BioTech leading the way, Nasdaq continues to hit new highs as big Nasdaq names like Google, Apple, Tesla are on the move
Another mixed day with only a single ETF moving more then 1% , that one EFT was Biotech and it took a pretty good hit, down 1.7% and forming a bearish engulfing daily candle, seeing how this happen at last months high, this could pull back from here.
The bias of the broader market was to the down side, Metals& Mining was the big mover with a -3% down move. Commodities remain is a bear market
Note; Non Farm Payroll numbers tomorrow
Another mixed day, that has been the norm over last few weeks. On the plus side nothing up over 1% but on the downside energy got killed again lead by XOP down over -3%. There is going to be a great buying opportunity in Energy once this correction is over, we just have to watch it, be patient, and not freak out if we get in too early. Energy is the one thing that is not going to zero so relax
