Monthly Archives: May 2007

SHORT TERM: rally quiets down after a morning surge Stocks opened higher today, rallying to new bull market highs for most of the indices within the first half hour. The SPX hit 1536, exceeding the long term EW pivot of … Continue reading →

SHORT TERM: market rallies despite Q1 GDP revision down to 0.6% growth Overnight the Asian markets all rallied, and this morning Europe came in about 1.0% higher as well. Stocks continued where they left off at the close yesterday, and … Continue reading →

SHORT TERM: market gaps down at the opening, then reverses to new closing highs After a 6.5% decline in China’s SSEC last night, and the stock index futures being pressured all night, the market gapped down at the opening. The … Continue reading →

SHORT TERM: stocks gap down on overnight selling, but recover Overnight the Asian markets were all lower, with China’s SSEC dropping 6.5% as the government continues to try to cool that market. Europe came in about 0.95% lower, and our … Continue reading →

SHORT TERM: stocks rally in choppy day The market started the week on a positive, rallying from the opening bell. But ran into short term overhead resistance at SPX 1522 around 11:30, and then turned lower. The intraday pullback lasted … Continue reading →