S&P 500 Rangebound. The S&P 500 bounced off of levels that were considered near term support after a tumultuous headline filled week due to the Boston Marathon bombers and worries about public safety. Equities rebounded after the bomb suspects had been accounted for and follow through today was a positive sign for stock market bulls.…
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…
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…
