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…
Sequestration and the Payroll Tax Increase Delayed Effects Set In: Stocks fell yesterday after a dismal jobs report was announced for March 2013. U.S. equities dropped in the pre-session trading after the jobs number showed only 88,000 additional people were employed for the month. Once again the labor participation rate stunned observers as people wondered…
March 2013 Jobs Report Could Be Next Stock Market Catalyst: Stocks rallied ahead of tomorrow’s all important jobs report as a barometer of how quickly the U.S. economy is growing. Traders have been cautious all week but today equities caught a bid as traders were more willing to own stocks after ADP’s disappointing private sector…
U.S. Companies Add 158,000 Private Jobs U.S. companies added a meager 158,000 in March 2013 according to ADP and this was far below what most economists expected. The increase in private sector jobs in March was slightly below the mean for the last few months and way below what would be considered expansionary. This leaves…
S&P 500 Upward Trend Still In Tact, but…. Standard And Poor’s technical analysis update for the SPY after the recent all-time high March 2013. The spider exchange traded fund, the SPY shows an upward trend but this could mean some traders may begin trying to fade the rally. Look for strong downside breaks and late…
Market may be overextended and pausing for next leg of the rally. The stock market gave back some of last week gains as poor economic data decreased bullish trading sentiment. Stocks lost luster after a gap up in the early part of the session and continued to lose ground throughout the day. What appeared to…
S&P 500 Closes At 1,569: The moment traders were anxiously waiting for finally occurred on Thursday, the last trading day of the first quarter 2013. The S&P 500 hit 1,566 early in the day and soon the word spread that the stock market was making gains again although bonds didn’t take too much of a…
