Durable Goods Orders March 2013 Fall 5.7%, FOMC May Hold QE Signals

No need to worry about the Fed ending QE with mixed economic data: Durable goods orders fell in March as businesses cut back on investment in capital equipment. The Commerce Department said durable-goods orders for long lasting manufactured goods fell by 5.7 percent from the prior month.  Some of the decrease in durable goods orders[…]

Technical Analysis Chart – S&P 500 Bounces Off Support Level- April 22, 2013: Where It Could Be Headed Next

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.[…]

Initial Jobless Claims April 13, 2013 Rise By 4,000; Economic Data Is Getting Weaker

Are stocks signaling a much weaker economy than expected earlier in 2013? The U.S. Department of Labor said initial claims for unemployment insurance benefits rose last week.  Jobless claims rose by 4,000 from the prior week of 348,000 and are evidence the labor market remains weak.  A weak labor market continues to have negative effects[…]

Technical Analysis Note: S&P 500 April 11, 2013

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[…]

Stocks Rebound But Does The April 2013 Rally Have More Steam?

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[…]

Technical Analysis Note: S&P 500 April 8, 2013

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[…]