Market CommentaryMore Market Commentary
Even though it is Monday, the market is up and going strong right from the start. Is today the dead-cat bounce predicted after last Thursday’s rout? Is it the Ukraine secession vote on Sunday that has the market all fired up thinking the situation there is coming to a close? Maybe it is one or both, but my money is on the strong manufacturing data that came out this morning.
- The Federal Reserve reported that U.S. Industrial Production for the month of February was reported at +0.6%, which ...
E-mini S&P futures a selling opportunity on more price weakness.
See on the daily bar chart for the e-mini S&P futures that prices have backed well down from the recent high and the bears now have downside near-term technical momentum. A move below chart support at Monday’s low of 1,824.90 would become a selling opportunity. The downside price objective would be 1,760.00, or below. Technical resistance, for which to place a protective buy stop just above, is located at 1,850.00.
If you cannot be on the project each day to check on things, then you should not try and be your own contractor. —Robert Metcalfe
There’s no easy answer for how you should pick either a general or group of sub contractors for your project. In my experience, if you have the time to be a general contractor and sit on site it’s relatively easy to get a tile guy and an electric guy and a roofer etc. for a reasonable price. You get them from the usual places, friends, family, craigslist, yellow pa...
Copper lost an additional 4.50% last week bringing the three week loss to a total of 9.68% —the biggest three week drop since October 2011. Thursday’s intra-day low of 2.99 was only 0.03 from my price target of 2.96.
The Coppock Curve has reached a level seen at previous bottoms in copper. Given the proximity of last week’s low to my price target and the explosion of volume in the copper ETF, JJC, I’d say that was the bottom of the decline in copper. However, if 2.96 is broken, all bets are ...
And a war of words is what we are seeing, with the U.S. and the European Union facing off against Russia over the future of the Ukraine. Half of Ukraine wants to join the European Union; the other half wants to join Russia.
The belligerent rhetoric got hotter over the weekend, when Russia sent troops to the Crimean part of Ukraine, and the Crimeans voted massively to secede and re-join Russia. Now the West is talking about “severe sanctions” and “economic catastrophe” for Russia. Markets ar...Read More
Featured StoriesMore Featured Stories
When I was in school, the honest truth is I didn’t even know about Forex. The stock market was what I thought ‘trading’ was. I didn’t pay much interest in that either because like many other people, I believed to become a ‘trader’ you needed a lot of money, university degrees, and an IQ that allowed you to breeze through complicated algebra equations.
When I discovered the Forex market it soon became clear that you don’t need much money to start up, and hey there is even this demo trading fea...Read More
With the prices in the broad markets at all time highs, questions are being raised about whether this is the right time to be buying S&P 500 ETF: SPY. Every trader should always be looking for a great deal, they never want to overpay nor do they want to be on the wrong side of the trade.
[Editor's note: Sarah Potter's new book: How You Can Trade Like A Pro is available at Amazon and bookstores March 28.]
So the question becomes, when this index is making all time highs, how do traders look fo...Read More
Precious metals got off to a great start this year and the form is holding nicely.
With bullish sentiment growing it might be best to wait for a correction in the new uptrend before considering a position on the next potential push higher.
[Editor's note: Are you new to Elliott Wave? Learn the basics in this article by Madden. ]
Sentiment and the Elliott Wave Principle go hand in hand, after all the WP is a detailed description of how groups of people behave. Of course the levels of optimism ...Read More
This week features one of the more intriguing IPOs of 2014, in my opinion. The company, Castlight Health , has developed a cloud-based software platform built to help corporations control rising health care costs. This is a problem that seven out of ten CFOs consider to be the most pressing one , according to CSLT.
It is a very early-stage company with limited revenue and significant losses. However, I believe that most investors will focus on its growth potential and the fact that it is a fir...
We’ve all heard the saying about the smart money and the, well, not smart money.
When a stock is trending up or down, it is wise to follow the smart money versus your gut feelings, news, or what your friends are doing.
A LITTLE BACKGROUND
If you’re not familiar with “On Balance Volume” let’s touch on what exactly OBV is. OBV was initially introduced to the world of technical analysis by Joseph Granville. It was one of, if not the first indicator, to measure positive and negative volume flow...Read More