Author name: mome2143

Pre-Market Update: The recent seesaw battle between the bulls and bears continued on Thursday as both sides tried to make strides to clear support and resistance. Given the economic news, it was no surprise that a backtest to support might come. The bears will be looking for some follow-through, while the bulls will be gunning for a rebound.

Pre-Market Update: The bulls showed signs of life as they pushed resistance on Wednesday. The financial stocks were strong and held the majority of their gains, while the VIX stayed relaxed. The higher highs and higher lows were promising signs ahead of what could be an explosive end-of-week showdown between the bulls and the bears.

Pre-Market Update: The bulls battled back on Tuesday to get a piece of the market pie, but the bears were greedy and got the overall win. The action in the small-caps was encouraging, but further gains are needed to clear major resistance across the board.

Pre-Market Update: I mentioned that the first trading day of the month has historically been volatile, but Monday’s action was a bullish sign for June.

Pre-Market Update: May turned out differently than what most of Wall Street had planned for, as the market finished the month higher overall. Despite the recent choppiness, the bulls are holding the top of the four-month trading ranges and are still gunning for historic all-time highs.

Pre-Market Update: The market’s see-saw action continued on Thursday, with the bears regaining the upper hand. Despite the win, not much damage was done, as the bulls stayed calm and held near-term support.

Pre-Market Update: The market posted solid gains on Wednesday, as the bulls bounced back to push resistance. I mentioned that the bulls’ first order of business would be getting the VIX back below 13.50 this week, and that mission has now been accomplished.

Pre-Market Update: The bulls were looking for another 1%-2% upside move coming into the week, but they lost a lot of momentum following Tuesday’s pullback. The bears came close to recovering the broader market’s 50-day moving averages, but these levels held into the closing bell. With volatility returning, this week could offer clues on how the next major trend plays out.

Pre-Market Update: The market gave bullish signals last week despite a continuation of the tight trading ranges, and fresh all-time highs were set once again. Volume was anemic last week, and the lightest it has been all year on Friday, as traders left for early vacations.

Pre-Market Update: The bulls nearly got a clean sweep on Thursday following another day of trading within a tight range for the major indices. Tech led the way higher, but the small-caps slowed the momentum. The good news is that the VIX closed below 12.50.

Pre-Market Update: The blue-chips were going for their fifth-straight win on Wednesday but failed at accomplishing this feat for the first time in 2015. The Fed minutes released yesterday provided a little afternoon drama, with the tight trading ranges holding and tech and the small-caps showing strength afterwards. The slight pullback in the overall market wasn’t much of a threat, as fresh support continued to hold.

Pre-Market Update: The market was sluggish on Tuesday, and the major averages were split at the close of trading. The bulls pushed higher highs, while the bears chiseled on near-term support.

Pre-Market Update: It was a beautiful Monday on Wall Street, as the bulls held court to push higher highs. The small-caps led the charge, but volatility ticked higher despite the positive session.

Pre-Market Update: The market traded sideways throughout last week before making a break toward the top of its trading range. The good news is that most of the major indices have cleared their range ceilings. The bad news is that the small-caps are still struggling.

Pre-Market Update: We have some nice pin action going with our current trades and I have moved up our Stop Limits to protect profit

Pre-Market Update: The market traded in a tighter-than-normal range on Wednesday, with the bears getting the overall victory. The major averages finished mixed, and the small-caps disappointing once again. The transportation sector was weak, which is a possible bearish development that I’m watching carefully, but, overall, the bulls showed some strength.

Pre-Market Update: The major indices traded in negative territory for much of Tuesday’s session, although the bulls did make a run into greener pastures intraday. The bears made another attempt at cracking support, but it stuck like Chuck as the trading ranges continue.

Pre-Market Update: Although there were some pockets of strength, the market looked sluggish on Monday, with the bears getting the overall win. There were signs of weakness as well, as the financial stocks pulled back and the VIX stayed elevated.

Pre-Market Update: The bulls continued their May momentum, as they rebounded from a choppy week with a strong Friday to get the weekly win. The bandwagon-jumping could continue despite the indices closing in on the top of their trading ranges, as traders (and the Fed heads) continue to try to call a market top.

Pre-Market Update: The bulls held on to Thursday’s gains and recovered resistance, for the most part, but the market is still lower for the week. This morning’s nonfarm payrolls report will have an impact on the open, although today’s close could play a bigger role in deciding next week’s trend.

Pre-Market Update: The bears continue to take advantage of the nervousness on Wall Street and the pending unemployment report to push lower levels of support. This has been the worst two-day stretch since late January, and yesterday’s action may have been fueled by Janet Yellen’s comments about an inflated stock market.

Pre-Market Update: The bears snapped a two-session winning streak on Tuesday as they made their first appearance in May. Their return was expected, however, as resistance and the top of the trading ranges continue to hold ahead of Friday’s nonfarm payroll report.

Pre-Market Update: The market got off to a good start for the week, as the major indices made a run to the top of their trading ranges. Although the bulls failed to hold near-term resistance zones, the action kept the possibility for continued all-time highs into May alive.

Pre-Market Update: The bears got the last Monday win, as all of the major indices closed lower to start the week. The small-caps led the way and gave the first clue that a rocky week would be forthcoming. The VIX held 13.50 on Monday but bubbled higher on Tuesday despite another blowout quarter by Apple (AAPL). Shares ran to an intraday all-time high of $134.54 but finished the session lower by $2.

Pre-Market Update: The catcalls for a full-blown market correction got louder again on Thursday. The bulls got the April win, but the action in the small-caps was concerning. The broader market and tech enjoyed gains of 1% overall, but the Russell 2000 fell nearly 3% for the month.

Pre-Market Update: The Fed heads failed to inspire a rebound off of the lows on Wednesday, as the market closed at its near-term support levels. The dictionary word of the day is “transitory,” which is a word used by the zombies to describe economic growth. The Federal Open Market Committee (FOMC)’s meeting minutes also revealed that its “calendar-based” guidance was officially retired, as they remain cautious on inflation risks as well.

Pre-Market Update: Geopolitical concerns caused market ripples on Tuesday, as reports surfaced that Iran had seized a U.S. ship. I mentioned in Monday’s Pre-Market Update that the recent saber-rattling around the globe could cause some uneasiness, and the volatility seen yesterday will likely get worse if the world remains on fire.

Pre-Market Update: The bears got a Monday win yesterday, which may have given us our first clue that this week could be a little rocky. The bulls held near-term support, but the action in the small-caps (and biotech) was concerning.

Pre-Market Update: Last week, I said to watch for four clues that would let us know if the bulls had more gas in their tank or if they were running on empty. The first bullish clue we got was last Monday’s win on the Dow, as the blue-chips recovered the 18,000 level and the 50- and 100-day moving averages.

Pre-Market Update: The bulls continued their assault on the tops of the trading ranges and all-time highs during Thursday’s rally. The bears made a little noise at the open, but the higher lows held support and led to higher highs into the close.

Pre-Market Update: The bulls regained resistance for the most part on Wednesday, with the VIX continuing its push to fresh 2015 lows. The bears seem to be retreating, but we still need to keep an eye on them, as they can strike at any time.

Pre-Market Update: The bulls tried putting a two-session win streak together but failed at holding Tuesday’s opening gains. Three of the four major indexes finished lower, but tech shined and the VIX stayed relaxed.