Who’ll Blink First?
Two 100+ point down days and as I mentioned Monday morning, this is unfortunately what it takes to get Washington’s attention. Yesterday was interesting because it’s the first day in quite some time I saw a flight into the defensive stocks in the S&P 500; many which rose over 1% for the day. This type […]
Market Waiting on Washington’s Next Move
At this point of time, the market will move in the perceived direction of the budget talks. Any inkling of a deal will likely send prices skyrocketing because the selling has been relatively light – there’s been a lack of buyers and they are waiting for safety before committing. Yesterday’s 100+ point down day was […]
Potential for Sell-Off Looms
The market is neutral but with the potential for a large sell-off this morning, a good buying opportunity may be there at the end of the day. Washington has historically had a knack of creating panic before coming to agreements and a few 100+ point down days will likely get them to see common ground […]
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Oversold to a Default
The market is now oversold and with headlines like this on CNBC.com “First a default, then a depression?” Some think so” it’s time to begin scaling into the market. Have a great weekend! Today’s Potential Opportunities on Further Pullbacks: Stocks: CVX,IRM ETFs: EWJ For today’s official Daily Battle Plan set-ups click here.
The Eye of The Storm
There remains very few edges in place coming into today. The market is going to move with Washington. If there’s no movement there will likely be a slow-to-moderate drip lower. Any progress will likely lead to a rally, especially based on yesterday’s behavior with prices moving higher from the opening. Despite the media’s hysteria, shutdowns […]
A Pause Amid Government Shutdown
Yesterday’s healthy bounce was expected and was in-line with normal market behavior. The next few days though could see “abnormal” behavior because as of this writing (late Tuesday night) the government is supposedly closed and non-essential activities, including this Friday’s Jobs Report have been put on hold. Everyone (and I do mean everyone) expects this […]
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Oversold at Last
Yesterday was the sell-off we’ve been looking for and discussing since last week. The market is oversold and due for a healthy bounce. Barring anything out of the norm (meaning absurd) from Washington, a healthy bounce is now due. Today’s Potential Opportunities on Further Pullbacks: Stocks XOM (Exxon Mobil) MKC (McCormick and Company) ETFs IDV […]
Here Comes The Pullback
Friday I mentioned that “this pullback has been led by the wrong stocks and has been done without a blip in volatility. A news event may take prices higher here, especially as the upward month-end bias in prices is in force. But, short of that news event, a larger pullback would be healthier and more […]
What Happened to the Pullback?
Yesterday’s small rally leaves the market slightly oversold but my concern remains the same. This pullback has been led by the wrong stocks and has been done without a blip in volatility. A news event may take prices higher here, especially as the upward month-end bias in prices is in force. But, short of that […]
Expect A Volatile Reversal
The market remains oversold but it’s not quality oversold. The stocks they’re selling off are blue chip low volatility stocks (PG, JNJ) and high yielding stocks; a combination which is not a traditional formula for a large reversal higher. Add the complacent VIX into the picture and it all adds up to a picture that […]