The Dow was up 440.53 points on Friday after grinding higher all week. Price didn't clear the previous high from February 26 on the Dow (see DIA) but the S&P 500 index (see SPY) did. Also, the Nasdaq 100 index (see QQQ) made a new all time high. SPDR Dow Jones Industrial Average ETF (DIA) daily SPDR's S&P 500 Trust Series ETF (SPY) daily PowerShares QQQ Trust Ser 1 (QQQ) daily Financials (see XLF) led the way gaining 2.41% and are within 4% of the all ti … [Read more...]
Trade Alert (ESRX)
I recommended Express Scripts Holding Co (ESRX) on December 14 last year. It was just announced that ESRX will be acquired by Cigna Corp (CI). The details can be found here on CI's web site...https://expressscriptsholdingco.gcs-web.com/news-releases/news-release-details/cigna-acquire-express-scripts-67-billion. Express Scripts Holding Co (ESRX) daily The price of ESRX is up approximately 14% from my recommendation. Although CI is trading near support (below) I am recommendi … [Read more...]
[Trade alerts] Interest Rates, Financials and Weed
Equity volatility is still high with large daily and intraday swings in both directions. I expect this to continue until bonds find and test lower support. iShares Barclays 20+ Year Treasury Bond Fund (TLT) weekly After breaking intermediate support (green upwards sloping trend line) in early February and blowing up equities TLT is likely to trade lower into the 115 price level, the next support zone. If this level holds I would expect equities to benefit. SPDR's S&P 500 T … [Read more...]
Monday market update
Price action last week was positive with most major indexes closing higher than the previous week. The week started out a little rough with Tuesday and Wednesday selling off then a big push higher Friday afternoon. I still expect more back and fill with testing of the SPY rising support zone that held the weekly close during the big dump three weeks ago. This support zone is represented by the upwards sloping light blue line on both the weekly and daily charts. This trend line dates from … [Read more...]
Mexico
It all began on Friday, February 2nd. That was the day of the first big sell off. The low that day on SPY was 275.41. Price has since round tripped to almost the penny of that low with a high of 275.32 last Friday, closing at 273.11. SPDR's S&P 500 Trust Series ETF (SPY) daily I was surprised at the speed of the "correction" and I'm surprised at the speed of the "recovery". I expected more back and fill, more testing of the lows. Maybe we will get that this coming week. Volat … [Read more...]
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