Monthly Archives: May 2006

wednesday update

SHORT TERM: Following Europe’s lead our stock indices gapped up at the open after closing on their lows yesterday. The rally continued until about 11:30 AM and stocks eased off until the 2PM FOMC minutes were released. When the market viewed the report … Continue reading

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wednesday morning

SHORT TERM: market continues its stability Asian markets, overnight, followed the downdraft in the U.S., selling off over 2%. The European markets opened lower, but held firm and actually turned higher by 0.5% as our stock indices were preparing to … Continue reading

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tuesday update

SHORT TERM: quite a pullback … 2% Stock indices gapped down on the opening, due to the selling in Europe and the negative divergences in the short term indicators. The pullback seemed to stair step it’s way down during the … Continue reading

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tuesday morning

SHORT TERM: expected pullback Over the extended weekend Asia was marginally lower, and Europe pulled back about 0.5% on monday and an additional 1% this morning. Our index futures followed the flow from Europe which resulted in a gap down opening, and … Continue reading

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correction, or new bear market

I received these questions over the weekend, and thought many may be pondering the same thing. Tony, I notice that you say "Many EWer’s continue to label this 3 1/2 year bull market as a countertrend rally within an overall … Continue reading

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weekend update

REVIEW: Three day weekend almost over, back to work. For two weeks the stock indices remained unstable, and technical indicators were ignored as waves of selling hit the market nearly every day. The NDX had 12 consecutive days of lower lows, which … Continue reading

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friday morning

SHORT TERM: markets have stabilzed The Asian markets were all mostly up 1.5% and Europe came in about 1.25% higher too. The rallied continued worldwide. This added to our market, as we had another gap up opening. After two weeks of an unstable "sell … Continue reading

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thursday update

SHORT TERM: nice rally today afterall Stock indices gapped up at the open, then pulled back to close the gap by around 10:30AM, after that the market added to its gains most of the day and into the close. The … Continue reading

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thursday morning

SHORT TERM: market trying to hold on to these gains Overnight Asian markets were lower by about 1% with the SEC flat, and the BSE was up marginally. Europe came in a good 1.25% higher trying to rally off its … Continue reading

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wednesday update

SHORT TERM: great day for scalpers! Our stock indices opened on a gap to the downside making new lows for the decline. Then within a few minutes staged an apparent short covering rally, (see is this AM’s post), driving the … Continue reading

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