The Market and Obama Playing Chicken
The SPX sold off yesterday in the last two hours to finish in the red. Meanwhile, the White House has yet to release a specific proposal on how to deal with the toxic assets and solvency problem.
The Odds for a Wave 5 Completion From 665-602
Following a three day winning streak, stock futures pointed to a mixed opening on Friday. See Kevin Haggerty’s commentary on the SPX, the financial sector and the odds for a Wave 5 completion in this bear market.
Key Price and Time Symmetry Takes Precedence
Will Fed Chairman Ben Bernanke’s speech on Tuesday morning be enough to carry the SPX to a reversal? Read what Kevin Haggerty sees in the market for this week.
Odds Still Favor a March Reversal
Kevin Haggerty comments on the market’s mini meltdown yesterday, the Government’s huge spending bills, tax proposals, and the many other things that have so far failed to solve the potential insolvency crisis.
March Technical Reversal Despite Washington Blunders
The market has been in a free fall since the Geithner “No Specifics” speech in early February, followed up by the two “Pork Bills”. But despite Washington’s blunders, Kevin Haggerty sees a technical reversal ahead.
Bad News is Good News for Day Traders
Dire news flooded the market this week, as Obama’s speech to Congress and his budget proposal immediately sent the market south. Could all this bad news be good news for traders? Kevin Haggerty weighs in.
More Government Spending and Regulation Equals More Bear Market
The markets sustained another mini-meltdown yesterday, hitting levels not seen since October 1997. Will Obama’s address tonight generate more volatility for traders? Kevin Haggerty weighs in.
President + Congress =’s Meltdown
As anticipated, the market was obviously not in a patient mood as the SPX 804 range low was taken out this week preceded by the negative divergences in the INDU, and TRAN. Kevin Haggerty comments on the market’s negative response to the mortgage bailout plan.
Congress Acts Market Sinks
Based on what we witnessed last week, the market is not in a patient mood right now, and it won’t take much to accelerate the downside. Kevin Haggerty comments on the Obama-Geithner stimulus plan that was passed on Friday.
The Market and Geithner’s Empty Suit No Plan
The market expected a specific TARP plan from Geithner in his address on Wednesday, but he came up empty. Kevin Haggerty comments on the new $2 trillion plus TARP plan, which has left investors with more questions than answers.
Sell February Rally, Buy March Lows
This week is all about the stimulus bill, so traders and investors should expect some erratic price movement in the markets.
Market Grinds in Anticipation of Non Stimulus Pork Bill
Stocks got off to a strong start yesterday morning, but finished lower by the close. See Kevin Haggerty’s recap of yesterday’s trades, as well as, his opinion on Obama’s stimulus plan.