Monthly Archives: November 2008

REVIEW Despite worsening economic reports the market staged its first 5-day rally since May 2007. If you recall, the uptrend between Mar and July 2007 ended Major wave 3, just before the sharp selloff in August, and then the Major … Continue reading →

SHORT TERM: market experiences its first 5-day rally since May 2007, DOW +102 Overnight the Asian markets were mostly higher, and India opened its exchange. Europe opened lower, but closed +0.60%. US index futures were mostly unchanged overnight, and lacking … Continue reading →

The Indian market was closed due to a senseless terrorist attack in Mumbai. The Asian markets open were all higher. Europe opened higher and closed +2.20%. US index futures traded lower overnight but the ES closed +3.0. After a quasi-weekend … Continue reading →

SHORT TERM: markets puts a 4-day rally together for the first time in six months: DOW +247 Overnight the Asian markets were mixed for the third day in a row. Europe opened lower, but closed mixed as well. US index … Continue reading →

SHORT TERM: after a choppy day the market closes mixed, DOW +36 Overnight the Asian markets were again mixed. Europe opened lower but closed +0.30%. US index futures were higher overnight, and at 8:30 the Commerce Dept. revised Q3 GDP … Continue reading →

SHORT TERM: market rallies on Citigroup deal, DOW +397 Overnight the US government announced a deal to help stabilize the troubled financial giant Citigroup: http://www.federalreserve.gov/newsevents/press/bcreg/20081123a.htm. The Asian markets were relatively unaffected as they closed mixed. Europe, however, opened higher and closed … Continue reading →

REVIEW Despite the US market rallying over 6% on friday it was still a nasty week. The SPX broke through its 2002 low on thursday, wiping out the 2002-2007 bull market in only 13 months. For the week SPX/DOW were … Continue reading →

SHORT TERM: SPX breaks through 2002 lows, DOW -445 Overnight the Asian markets were all substantially lower. Europe opened lower and closed -3.15%. US index futures were flat to higher overnight, and at 8:30 the weekly Jobless claims were reported at … Continue reading →

SHORT TERM: downtrend makes slightly lower lows, DOW -427 Overnight the Asian markets ignored the rally in the US yesterday and were mostly lower. Europe opened lower and closed -4.85%. US index futures were lower overnight, and at 8:30 the … Continue reading →

SHORT TERM: another volatile day, DOW +151 Overnight the Asian markets were all lower. Europe opened lower but closed +1.15%. US index futures were relatively quiet overnight, and at 8:30 the monthly PPI was reported at -2.8% v. -0.4%, but … Continue reading →