Author name: mome2143

Pre-Market Update: The market struggled at Tuesday’s open and got progressively worse throughout the session. Although a few Dow stocks accounted for the majority of the losses, Wall Street seemed nervous ahead of Apple’s (AAPL, $130.75, down $1.32) earnings report. They had reason to be, as shares were pushing $120 in after-hours trading.

Pre-Market Update: The market traded in a tight range on Monday, but the bulls managed to get the overall win despite a slip in the small-caps. Volatility spiked into the close but was also tight, as the VIX stayed between 11.50 and 12.50.

Pre-Market Update: The market finally got some resolution on Greece as the country took the final steps toward its third — yes, third — bailout plan. Germany folded its hand and signed off on the handout as it feared a Greek exit would create “chaos” on the euro.

Pre-Market Update: The indexes rebounded on Thursday to push past their upper resistance levels, and they are now on the verge of fresh all-time highs. Tech lead the way higher and got some good news after the close, with Google (GOOG) topping earnings expectations.

Pre-Market Update: The bulls cleared additional layers of resistance on Tuesday as the market closed higher for the fourth-straight session. The VIX is relaxing, and second-quarter earnings are coming in well versus Wall Street’s forecasts. Geopolitical headwinds remain, but the indexes are once again eyeing historic highs.

Pre-Market Update: The bulls cleared additional layers of resistance on Tuesday as the market closed higher for the fourth-straight session. The VIX is relaxing, and second-quarter earnings are coming in well versus Wall Street’s forecasts. Geopolitical headwinds remain, but the indexes are once again eyeing historic highs.

Pre-Market Update: The bulls continue to show why it has been hard to turn your back on them this year. Although numerous calls for a market top poured in through June and into July, I’ve talked about the possibility of a snapback rally this month.

Pre-Market Update:

Pre-Market Update: The bulls made a run past the resistance levels that served as prior support on Thursday morning, but the bulk of the day’s gains evaporated during the second half of trading. The indexes ended the session giving mixed signals, as global headwinds continue to cause uncertainty. The VIX ended the session higher after tripping 20 for the first time since early February.

Pre-Market Update: It was a frustrating day for Wall Street on Wednesday, as the halt of trading on the New York Stock Exchange lasted into the final hour of the session. Although the “technical glitch” was not blamed on a cyber-attack, other financial websites went dark for a period of time as well. The technical damage that has been done to the major indices is now reaching a breaking point, but the bulls held the last lines of defense into the close.

Pre-Market Update: The bears cracked lower levels of support and pushed the VIX near 20 again on Tuesday. However, their efforts were wasted, as a powerful snapback rally ensued off of the lows. The bulls still struggled with resistance, but a bottoming process could form if there is any follow-through today.

Pre-Market Update: The bulls brushed off Greece’s latest worries to hold support but failed at gaining traction on Monday. The bears held resistance to keep the indices within their five-month trading range and appear to have more momentum at the moment.

Pre-Market Update: The technical picture continues to show additional weakness but any damage done today and this week will be blamed directly on Greece. The country’s citizens voted “no” by more than a 60% to 40% margin against further bailout conditions and aid. The decision to go it alone could result in pushing the country closer to bankruptcy and an exit from the euro currency. However, I wouldn’t be surprised if new developments came about in the coming weeks to still “save” the country.

Pre-Market Update: The bulls showed why it has been hard to throw the towel in on a continued run to higher highs, as they recovered the first layers of resistance on Wednesday. More headlines out of Greece swayed the market, and the technical picture is still showing major volatility ahead.

Pre-Market Update: The bulls made a push to the resistance levels that had previously served as support, but the bears held Tuesday’s gains in check. The second waves of support held, but there are two more days of headlines this week that could sway Wall Street going into July.

Pre-Market Update: Wall Street tried to remain calm as they preached caution during Monday’s pullback. However, I’d like to see how the suits-and-ties react if the selling pressure continues today and for the rest of the week.

Pre-Market Update: The bears made some noise last week as the circus in Greece continued. Like all good clowns, they will eventually leave town, but the clock is ticking as the country’s debt debacle is once again coming down to the wire.

Pre-Market Update: The market pulled back for a second-straight session on Thursday, as traders remained worried about the latest rumors of a Greece deal that has been in flux constantly. The clock is ticking on the country’s fate concerning its debt issues, and the outcome will likely be decided between now and early next week.

Pre-Market Update: The bears returned on Wednesday and held down the market on the open, as headlines about Greece ignited new fears of a possible default. These types of helter-skelter market moves will likely continue for the rest of the week and into next until Greece or the European zombies pull the country out of its current debt misery.

Pre-Market Update: The bulls extended their winning streak another day after tapping fresh all-time highs on Tuesday. The pullback off of the peaks held fresh support, and the VIX closed below 12.50.

Pre-Market Update: The bulls ended a two-session Monday skid to push fresh all-time highs on the Nasdaq and Russell 2000. The Dow and S&P 500 made solid gains as well and are back on track to test their record highs this week on continued momentum.

Pre-Market Update: Despite Friday’s pullback, the bulls wrapped up a successful week and reclaimed resistance while setting historic highs in the process.

Pre-Market Update: I mentioned that all-times highs for the major indices were still in the mix, and Thursday’s run into blue-sky territory had the short-sellers covering. With June options expiring today, the action could stay hot as the bulls try to extend their winning streak to four-straight sessions.

Pre-Market Update: Wall Street got its wish on Wednesday, as the Fed left interest rates unchanged. In the meeting minutes, 15 of 17 “Fed Heads” still indicated that the first rate hike should take place this year, just not right now. Although trading was choppy, the bulls prevailed for the second-straight session to keep resistance and all-time highs in play.

Pre-Market Update: The bulls rebounded on Tuesday to push the resistance levels that had served as prior support, and today’s Fed meeting concerning interest rates could provide the spark for higher highs or lower lows. The party starts at 2 p.m. ET, so the action could get tight going into today’s announcement.

Pre-Market Update: The bears got their second-straight Monday win following another backtest to support. I expected this week to be more volatile, and yesterday’s action lived up to the billing. Trading should be tricky through Wednesday, but hopefully a clear trend emerges once the Fed makes its announcement regarding interest rates.

Pre-Market Update: The market ended mixed last week, but the small-caps were able to gain some ground, while tech pulled back and held near-term support. The move back to resistance mid-week and to the top of the trading ranges had Wall Street in a fit, as many of the suits-and-ties have been, and still are, betting on a pullback. With the Federal Reserve making an announcement this week, the action will continue to stay hot, and it’s possible that the market could get thrown a curveball.

Pre-Market Update: The bulls pushed the next layers of resistance on Thursday’s open, but they had to deal with the intraday drama over Greece, which slowed their momentum. Reports that the International Monetary Fund (IMF) halted bailout talks with the country caused a slight pullback before the market made another push towards all-time highs.

Pre-Market Update: The market opened higher and stayed strong throughout Wednesday’s session, as the bulls recovered several layers of resistance that held into the close. The small-caps led the surge higher, but the rally was broad-based and got all-time highs back in play.

Pre-Market Update: The market was mixed on Tuesday, with bearish and bullish signs showing up throughout the session. Although Wall Street is saying that a selloff is looming, rational thinking and chart work show that the trading ranges from February are back in play.

Pre-Market Update: The bears got aggressive yesterday, and Wall Street is on the verge of calling for another selloff following Monday’s pullback. While it is too early to say this pullback will be the start of something bigger, the technical picture is weakening for the bulls.

Pre-Market Update: The bears got the weekly win and made Wall Street nervous to start the month of June. However, the damage was limited, as the small-caps and financial stocks offered clues that the bulls aren’t done running.