Elon Musk Accuses Two Influential Firms of Controlling the Stock Market
Elon Musk likes to attack circles of power. It’s as if he’s on a mission.Nothing seems to motivate him more than slapping a revered institution or icon. He seems to be committed to challenging all forms of representations of power.During the past few weeks, the Techno King, as he’s known at Tesla (TSLA) – Get Free Report, […]
Stock Price Divergence and Potential Signs of Risk! | Mish’s Market Minute
We cannot begin the Daily without a mention of the glitch in the NYSE right out of the gate Tuesday morning. A wild stock-price swing occurred at the open and 84 stocks suddenly plunged or spiked, causing volatility triggers and trading halts. The event is now under investigation.The chart of Wells Fargo (WFC) is a […]
Two Highly Entertaining Stocks to Watch | RRG Charts
After a 50% decline, you need to make a 100% return to break even.That is precisely what happened to the Communication Services sector. In August 2021, the Communications Services Select Sector SPDR fund (XLC) peaked at 85 and, from that point onward, started a disastrous decline, bringing its price back to 45, almost 50% lower. […]
Market Update – January 24 – Stocks in a Rally!
USDIndex settled at 101.50, Wall Street rallied on the back of tech amid ongoing hopes for a downshift in Fed rate hikes amid a potential moderation in inflation this week. Fears of a recession and the potential for the worst quarter of earnings in seven years were put aside for […]
Is this the break that stocks are looking for?
If you go by the chart, it looks like buyers are looking to make a play and that bodes well for overall market sentiment. The 200-day moving average (blue line) and the key trendline resistance (white line) from last year’s downtrend have been major resistance levels that kept a lid on any upside movement but […]
Momentum vs. Price: Is the Stock Market Rally Over? | Mish’s Market Minute
Last week was the reset of the January 6-month calendar range. For the S&P 500, that range sits at 3770-4000.23.In our 2023 Outlook, the prediction we made for the yearly range is much wider, or between 3200-4200. That is based on the position of two key monthly moving averages. Looking at the 6-month range, today’s […]
DP Trading Room: What’s Up with These Yields? | DecisionPoint
On this week’s edition of The DecisionPoint Trading Room, Carl explores how yields are calculated with a few examples of yields that don’t seem ‘right’. He demonstrates how to add dividends and splits to your charts. Erin focuses in on two sectors that are leading the pack and what that means for the rest of […]
Heads Up: Bulls Get Benefit of the Doubt as Positive Breadth Divergence Emerges | Top Advisors Corner
After the fall in stocks on 1/19/23, someone asked me if I was still bullish. And my answer was: “as long as the New York Stock Exchange Advance Decline line (NYAD) remains above its 200-day moving average, the bulls get the benefit of the doubt.” On 1/20/23, the market moved decidedly higher, regaining much of what it […]
The S&P 500 Showing More Bullish Signals, Watch This Key Level | Trading Places with Tom Bowley
Say what you want, but January has proven to be a very reliable predictor of U.S. stock market action from February through December since 1950 and, with just a little more than a week left to go in January 2023, market action is suggesting that we’re going to have a very strong year. It’s just […]
Friday’s 20% Gain Has This Stock’s Short Sellers Running For The Exits | Don’t Ignore This Chart!
We keep a Short Squeeze ChartList (SSCL) at EarningsBeats.com and there are currently 42 stocks on it that have very high percentages in terms of short percentage of float. What these stocks have in common is a propensity for short sellers to panic and cover their short positions as price action moves higher and higher. […]