Will Follow Through Occur? U.S. equities rebounded after losing ground yesterday. One day after the Boston Marathon Bombing, stocks rebounded led by the financials after Goldman Sachs reported good numbers along with positive housing data. Housing starts increased by 0.7 percent to 1.04 million annually the Commerce Department said today. The increase was the most…
U.S. Equities Oversold But Will Traders Step In? News hit the wires toward the end of yesterday’s session that a bombing had occurred at the Boston Marathon. At present, 3 people were dead and over 140 wounded. Stocks had already been losing ground but the bombing occurred at 2:50 and the selling became more exaggerated…
S&P 500 trend is rangebound: The S&P 500 gained ground as the rally continued today. Shorts are getting hurt as the parabolic stock market move we expected comes to fruition (see March 28, 2013). The current outlook for the next few days remains neutral-defensive with a bearish bias. The S&P 500 has been increasing steadily…
Follow Through From Last Week Occurs – Finally: Stocks rebounded yesterday after rising late in the session last week. The follow through upward movement was welcome for bullish traders since the market has been rangebound recently. The rise in stocks came on no economic news but the market appeared to be oversold short term. Traders…
S&P 500 trend is rangebound/upward: The S&P 500 pulled back to levels that were considered support on Friday after a dismal jobs number was announced showing a gain of only 88,000 new employed people for the month of March 2013. The stock market was extremely resilient considering the bad data as well as the negative…
