Author name: mome2143

Pre-Market Update: The bears won their third-straight Monday session yesterday, although the bulls were able to hold during the pullback to support. The action was bearish throughout the session, but the bullish close offered some hope that higher highs could be made this week.

Pre-Market Update: The bulls and bears survived a volatile September, and both sides seem to be feeling good about the action. Friday’s rebound gave the bulls the weekly win, and momentum is on their side heading into this week as well. The bears will be looking for some October magic, but, while this month has been known for some massive selloffs, it has been historically bullish.

Pre-Market Update: The bears slowed the bulls’ momentum on Thursday, as crude oil, the financial stocks and the small-caps led the way lower. I mentioned that the final trading day of September can be bearish, so the bulls desperately need to hold near-term support today. If not, next week could get rocky.

Pre-Market Update: Trading was choppy on Wednesday, but the market gained strength after a spike in the price of crude oil. News that major oil-producing nations had reached a deal to reduce production drove black gold higher and lifted the major indices. Additionally, the U.S. Senate cleared a bill to fund the government through the first week of December in order to avoid another possible shutdown.

Pre-Market Update: The market held its gains on Tuesday, and the bulls recovered a significant portion of Monday’s losses. The monthly win is still up for grabs, however, and the bears are holding the lead with just three trading sessions left for September.

Pre-Market Update: The bears got their second-straight Monday win on the Dow yesterday, making it two in a row following the pullback to support. Volatility ticked higher, although the bulls held resistance ahead of last night’s presidential debate. Both candidates will say they stole the spotlight, but Wall Street could care less, as money managers are just waiting for the next major market move.

Pre-Market Update: The bulls were on a four-session roll, but they were sidelined by the bears during Friday’s market pullback. The bulls easily won the week and are trying to show monthly gains, as tech and the small-caps continue to work towards fresh 52-week and all-time highs. However, the bears are still holding the blue-chips and the broader market hostage heading into the final week of September.

Pre-Market Update: The bulls continued their run to prior resistance yesterday, with tech and the small-caps making new 52-week highs. Both indices outperformed the broader market as volatility fell below another key level of support.

Pre-Market Update: The market was flat ahead of the Fed’s decision on interest rates yesterday, but it rallied into the close after rates were left unchanged. Although the zombies gave no plausible excuse to raise rates, they did say in their meeting minutes that the case to raise rates had strengthened, and Wall Street is now looking for a possible hike in November or December.

Pre-Market Update: While the gains were minimal, the bulls got the win on Tuesday, although the small-caps slacked for much of the session. The bears held resistance, but they are looking to do some damage today regardless of what the Fed decides to do about interest rates this afternoon.

Pre-Market Update: The bulls showed strength throughout the first half of Monday’s session before the mid-day fade that extended into the closing bell. The bears did a little damage, but they were unable to contain the small-caps, which held positive territory throughout the entire trading day.

Pre-Market Update: The bears took advantage of the quadruple-witching Friday last week, which is when index futures, stock index options, stock options and single stock futures expire on the same day. While these are normally bullish days, the selling pressure during the opening weakness carried over into the closing bell to keep the bulls at bay. However, despite the whipsaw action, the bulls got the weekly win.

Pre-Market Update: The most hated rally in history marches on, as the bulls’ rebound efforts continued on Thursday. The bears were crying for a lot of fouls and, while they tried to hack away at the gains at the open, they eventually got blown out for the session. Like any five-game series, today’s action will determine this week’s winner, but the bulls have slightly more momentum heading into this morning’s open.

Pre-Market Update: The bulls tried to hold down the fort on Wednesday following Tuesday’s bearish backtest, but they had trouble on some fronts, and the indices closed the session mixed. It remains to be seen if the back-and-forth action will continue or if one index will start to show more strength than the others. The bears haven’t gone anywhere, but they might be getting tired from the massive price swings we have witnessed this week.

Pre-Market Update: The market moved more than 1% for the third-straight session on Tuesday and gave back all of Monday’s gains. Although the zombies are officially in a “quiet period” ahead of next week’s upcoming Federal Open Market Committee (FOMC) meeting, the slick-talking pros continue to chime in on interest rates and overall market conditions. The wacky action will likely continue throughout the week and into next, and the bulls need to hold Monday’s lows today or face further downside pressure.

Pre-Market Update: I often say that one day doesn’t make or break a trend, especially when one side battles back the following session. The bulls did exactly that during Monday’s rebound following another bearish attack at the open. The lack of follow-through by the bears and the recovery of prior support levels from last Friday’s pullback were bullish signs. Another pullback would likely lead to continued elevated volatility, but today’s action should provide better clues as to how the rest of the week will play out.

Pre-Market Update: I often say that the longer the trading range goes on, the bigger the breakout or breakdown will be. Following a tight trading range that lasted throughout the summer, the bears sent a chilling reminder to the bulls on Friday that they should not get too comfortable. The incredible run by tech, the small-caps and the overall market off of the late-June lows was begging for a pullback, and the one we saw on Friday caught Wall Street off guard.

Pre-Market Update: The bears spent Thursday roaming around Wall Street, while the bulls took a breather. The damage was minimal, but volatility picked up a notch, and today’s action will likely decide who gets the weekly win.

Pre-Market Update: The market was weak for much of Wednesday’s session, but it rebounded during the second half of trading to end mixed. The small-caps showed strength, while tech also closed in positive territory to offset the pullback in the other major indices.

Pre-Market Update: Tuesday’s action was choppy as traders returned from the three-day holiday weekend, but the bulls powered through the session to get the win. Tech led the action once again and closed at an all-time high. The small-caps slacked, but they showed resiliency by holding positive territory for much of the second half of trading.

Pre-Market Update: The market was choppy throughout last week as Wall Street anxiously awaited Friday’s nonfarm payrolls report. While near-term support and resistance was tested, the end-of-week action gave the bulls the weekly win, and it now appears that the odds of a Fed rate hike in September have lessened.

Pre-Market Update: I mentioned that the market could remain slightly volatile this week ahead of this morning’s jobs report, and the bulls did a good job of holding lower lows on the stretch below near-term support yesterday before the second-half rebound back into positive territory. The mixed close was not hard to imagine, but how the market closes ahead of this three-day weekend is much more important.

Pre-Market Update: The bulls and bears split the month of August, as the Dow closed lower by 32 points, while the S&P 500 dipped 3 points. Meanwhile, the Nasdaq gained 51 points, and the Russell 2000 advanced 20 points. I mentioned throughout last month that the small-caps were playing catchup and would need to lead the next leg higher. Despite Wednesday’s pullback, the bulls are still in charge.

Pre-Market Update: The bulls tried to rally the troops on Tuesday’s open, but the bears took over shortly afterwards and controlled the rest of the session. The late-day lows were blamed on weaker-than-expected economic figures and a rising dollar, according to the market pundits. However, the continued trading range is still the main theme of this market, although a possible breakout or breakdown could occur this week or next.

Pre-Market Update: Monday’s action brought some much-needed relief, as the bulls recovered short-term support and pushed prior resistance levels. The VIX showed a little nervousness on the open, but it settled down and recovered its near-term support levels. I often say that one day doesn’t make a trend, but the rebound from last Friday’s late-day weakness was a good sign for the few of us that are still long the market.

Pre-Market Update: The bulls are trying to wind down August with a victory, and they are slightly ahead of the bears with three trading days left in the month. Tech and the small-caps led last week’s rally to record highs before the market pullback later in the week. However, the subsequent damage to the blue-chips and the S&P 500 has given the bears renewed hope, as they are showing losses for August and are growling heading into September.

Pre-Market Update: The bears got their second-straight win on Thursday, although the bulls held near-term support. Volatility stayed elevated but held resistance. The financial sector traded higher ahead of this morning’s Fed comments and is holding slight gains for the week. Given the circumstances, today’s close should offer great clues as to how next week and the beginning of September might play out.

Pre-Market Update: The bears made some noise on Wednesday, with tech and the small-caps leading the move lower. Volatility also tested upper resistance, as Wall Street is preparing for Janet Yellen’s upcoming statements on Friday.

Pre-Market Update: The bulls pushed fresh record highs on Tuesday, but they gave back some of their gains into the close. The push past upper resistance was led by the small-caps, while the financial stocks also showed strength.

Pre-Market Update: The battle between the bulls and bears resulted in a Monday draw, with the major indices trading within another tight intraday range. This type of action could continue into Friday, but Fed Chair Janet Yellen’s comments on interest rates and the current state of the economy could lead to a possible breakout or breakdown.

Pre-Market Update: The bulls and bears split the wins last week, as the Dow and the S&P 500 struggled to hold their slight gains going into Friday’s session. Although the Nasdaq and Russell 2000 finished lower on Friday, they both ended the week slightly higher.

Pre-Market Update: The agonizing back-and-forth action continued this week, with the major indices making minor gains on Thursday. The weekly win is still up for grabs, as the bulls are only ahead slightly, but a Friday win would seal the deal.

Pre-Market Update: The market traded lower for the majority of Wednesday’s session leading into the latest Fed news. The minutes from July showed that there could be a rate hike in September or possibly December, but no action was taken yesterday. In the end, the rebound off of the lows and into positive territory gave the bulls the win.

Pre-Market Update: The back-and-forth action continued on Tuesday, as the bears held the bulls back from reaching higher record highs. The damage was minimal, but it raised some concern, as the VIX jumped 7%.

Pre-Market Update: The bulls finally had a strong Monday showing, as the blue-chips ended a four-week Monday losing streak with yesterday’s win. The other indices also performed well, and record highs and a major move above resistance were achieved. The VIX spiked a little on the open, but it was nothing serious, as the momentum continues to push the market higher.

Pre-Market Update: The market finished mostly higher last week, but the small-caps failed to pull their weight. The gains were slight, but they should keep the bullish momentum going. This week could produce much of the same push-and-pull action, and earnings will likely produce the biggest winners and losers on an individual basis. Overall, the bulls are trying to rally other sectors of the market, as retail stocks are starting to break out, and they will remain in focus this week.

Pre-Market Update: The bulls rebounded to push record highs on Thursday while clearing and holding key resistance levels. The major indices stayed strong all session long, and the small-caps are now the only group left waiting to join the party at all-time highs.

Pre-Market Update: The bears kept Wall Street confused on Wednesday, as the market traded within another tight range during the backtest to fresh support. The bulls tried to push higher highs and blue-sky territory, but they ran out of gas following the opening pop to fresh resistance.

Pre-Market Update: Add the Nasdaq to the club, as it was the latest index to tap record all-time highs in recent weeks. Although there was a little late-day weakness on Tuesday, the bulls showed some strength to get the win. The bears are looking for an opening, but they may have to wait for the small-caps to clear 1,300 before we can start looking for a possible near-term market top.

Pre-Market Update: The market pulled back on Monday despite some opening strength that allowed the S&P 500 to tap another all-time intraday high. The pullback in the Dow wasn’t too concerning, as a higher high than Friday was made. However, it was the third-straight Monday loss for the blue-chips that helped stall the rally from last week.