How Major U.S. Indices Perform After a Panic Sell?

On Friday September 9 2016, markets around the world were in panic sell mode. Investors sold almost everything and the day was a 90%-downside day – when 90% of the volume is to the downside. We covered on Monday how major U.S. indices perform after a panic sell like the one on Friday. We noted that history says that…

S&P 500: 15 Thousand Feet View

Weekly Chart Analysis Current Status: Updated on Thursday November 3 2016 Many jitters are hitting the market – U.S. presidential election, Fed-Fund rate hike expectations – at the same time. On daily time frame the index has reversed the trend. On weekly time frame it has fallen below a previously broken resistance level – the high of 2015. On…

Market Stage A Turn Around

The U.S. Non-Manufacturing PMI report came out at 10:00 AM and that changed the market trajectory. The reading of 56.5 was above the forecast of 53.3 and better than last month’s reading. After toping 60.3 in August 2015, the PMI is on a downward trend but still above 50 which indicates expansion. Before the report…

Market Shrugs Off Brexit … For Now

The market bounce after the steep fall post-Brexit vote has been sharp and swift. Usually market takes stairs to go up but takes elevator to go down. This time it seems that it is using elevator both ways. Based upon the disruption created by UK’s decision to leave EU everyone expected the markets to continue decline. So…

Something Is Going On… Oh! Never Mind

A day after the historic British referendum regarding her continued membership in EU, on Friday June 24th 2016, the S&P 500 plunged -75.91 points or -3.6%. The next day, i.e. Monday June 27th, S&P 500 lost 36.87 points more or -1.8%. So, the net result two days after the upheaval in Europe was that S&P 500 shed 112.78 points or…

Getting Better At Waiting Game

For the past few days, U.S. stock market has been shrugging off bad or lackluster economic news and marches right along. Thursday, June 2nd was no different. On Wednesday, S&P 500 futures first tanked and then recovered. It was a repeat performance on Thursday. Despite the fact that the big Kahuna of economic report is…

Was This A ‘Meh’ Day Or Something Else?

Market was almost unchanged on Wednesday June 1, 2016. Dow Jones Industrial Averages gained +2.47 or +0.01% and S&P 500 added +2.37 or +0.11%. Going by just the end-of-day figure it would seem that it was a lackluster day. But if you dig deeper then you would see a different picture. The picture at the morning…

NASDAQ In The Front

Major U.S. indices turned around for the year in February. They formed the high for 2016 in April and then retraced. On May 19th, the market made a one-day bullish reversal candlestick and has been on an uptick since then. So let’s take a look how the major indices are doing compared to each other. The relative strength…