Sunday, June 14, 2020 Well that was a crazy week. The Dow cratered 2,500 points from Tuesday through Thursday and managed a wee rebound late Friday with a gain of 477. As I warned in last week's commentary, we certainly got the reset. I wrote.. "I would, however, exercise caution at current levels. The broader market is vulnerable and will continue to be vulnerable until we get a reset through time (consolidation) or price (dip). Longer term, price action is positioned well and support z … [Read more...]

Friday, June 5, 2020 Broader Market Review The 2,500 point surge in the Dow over the past two weeks has played out as I described on May 25th in my weekly commentary: Two weeks ago I wrote: "Back to present day. Well, that was the bottom and it certainly was low risk/high reward and it did provide historic compelling levels that have produced massive returns upwards of 100% in less than 60 days. It is highly unlikely, in my humble opinion, we will be revisiting that March 23rd low … [Read more...]

Friday, May 29, 2020 The Dow surged 1,000 points last week and is playing out as I described in my last commentary. It has broken up and out of the consolidation zone it has been in since early April and looks like it wants to complete the cycle from the Corona Crash Bottom like it began, with a reflective surge. Short term we might get a small pullback early in the week down to the 24,800 level but it sure looks like it is headed up to challenge 27,000 which is strong resistance and a … [Read more...]

Friday, May 22, 2020 Broader Market Review Just as there are many moves in sports designed to fake out your opponent there are similar moves in stock prices to get you to part with your hard earned money by doing stupid stuff like selling when you shouldn't, not buying when you should and a whole lot of other flat footed blunders. Take the March 23rd bottom for example. Everyone was caught off guard by the bottom and tripped up with the immediate surge higher. No one was prepared for … [Read more...]

Sunday, May 17, 2020 Broader Market Review Just another 1600 point swing in the Dow last week with the major averages closing slightly in the red. Not too bad really. The Dow and S&P 500 have been slowly rolling over during the past few weeks reducing upward trajectory which is actually a good thing. The reflective ascent angle off the March 23rd bottom was just unsustainable and the market needs to acclimate. Current price levels in the Dow and S&P 500 are neutral, trading in … [Read more...]