Big Tech Stocks Bouncing Now
Big Technology stocks are bouncing off key support levels after a successful breakdown from higher levels. If you positioned for the drop, now is the time to take profits as key tech stocks such as AAPL, GOOGL, and others achieve and rally up away from these key daily chart levels. How long will the rally…
WTI Oil Down 18.6% In Past 10 Days
WTI Oil Down - This Is Still A Correction Before we talk about how the WTI Oil Down is affecting the market, let's first review the market. The stock market rallied on Wednesday. With this rally, much of the correction has been rescinded. It was never deep to begin with. The same recession risks are still out…
Recession Indicators - 3 Types
Recession Indicators - Big Burst In Motor Vehicle Sales Before getting into Recession Indicators, let's review motor vehicle sales. There was a big burst in motor vehicle sales in May. This will help the Q2 GDP report significantly if it doesn’t get revised lower. It increases the likelihood we will see 2% GDP growth. Auto sales…
Sell the Bounce?
Markets have exploded higher in the last 24 hours of trade but is it time to sell the bounce? We will look towards the Russell, Bonds, Oils markets, volatility futures, and weekly expected moves for what appears to be a relatively solid the answer!
Oversold Rally - Stocks Have Their 2nd Best Day Of 2019
Oversold Rally Should Be Short-lived Looks like the Oversold Rally this week is sending stocks higher. Personally, I think stocks rallied sharply on Tuesday because they were oversold. I don’t think Powell’s comments, which I will get to later, had much to do with the rally. Stocks were oversold in the near-term. That’s why I…
31 Month Low In ISM Manufacturing PMI
31 Month Low - Very Weak ISM PMI It was a 31 Month Low for the ISM PMI. Technically, the May manufacturing ISM PMI is consistent with 2.7% GDP growth. But it’s still a weak reading because it’s down from where it has been recently. To be clear, since estimates are for 1.7% GDP growth,…
How We're Trading Gold and Bonds Right Now
What does the continued uptrend and recent bullish breakout in Bonds (/ZN, /ZB, and TLT) along with Gold (/GC, GLD) suggest about the stock market? Join Corey in tonight's video where he updates key levels and trade targets for these markets as well as what it suggests about stock prices in June.
Nasdaq Hits Correction Territory As Big Internet Firms Probed By Regulators
Nasdaq - Another Decline For Stocks Nasdaq is getting into correction territory. The stock market fell again on Monday, continuing this correction. S&P 500 fell 0.28% after opening up. Nasdaq fell 1.61% because of regulatory issues which I will get to later. Russell 2000 increased 0.31%. VIX increased 0.8% to 18.86 as it inched closer…
Consumption Growth Falls, As Income Growth Increases
Consumption Growth - While April Income Growth Improves Before getting into Consumption Growth, let's first review the April PCE report. Considering the weak economic reports that have come out in the past few weeks, the April PCE report was solid. This is before the tariffs were announced on consumer goods, but it’s still important since the…
Big Selling in Big Tech
Big Selling in Big Tech sparked fear in the heart of the markets; however, advanced decline lines remained incredibly resilient throughout the trading session. What is more astounding is the financial sector ended UP even with massive pressure from rallying bonds and comments from the FED. A bounce in markets is likely here and we…