From: Fallondpicks.com

Big Thank you to Brett Steenbarger for his mention of this site on his Friday's Weblog. Below is an example of the market commentary I keep on my parent site: www.fallondpicks.com

Thursday belonged to the Dow (well GM really) as money rotated from speculation to 'safety'. Commodity stocks were the big losers - although given their recent run this could hardly have been called surprising. More worrying was the churning in the Tech markets [NASDAQ and NASDAQ 100]. The selling was enough to reverse Wednesday's small breakout in the NASDAQ, but not enough to give bears a strong handle on the markets. Technicals of Tech markets remain hemmed in by bearish divergences in the MACD trigger line. The new closing high in the Dow was impressive. The S&P was less enthused and instead pushed a breakout on a more neutral spinning top. The Russell 2000 made a positive test of new support at 766 and maintains its leadership edge. Secondary Tech markets now lie all bullish with the $NASI the last of the secondary indicators to make a bullish cross of its 5-day EMA. Volatility again found support at the 200-day MA (with a bullish hammer). Will Friday's option expiration send a chill wind across the markets?

Newsletter update:

ADS gapped up big on strong earnings. The point-n-figure chart holds to a $99 price target, but for my purposes the stock has reached its target price. The April 13th Breakout play closed for an 18% gain. The March 9th Subscriber pick for a 24% gain. MOT hit its stop after gapping down yesterday on earnings. The March 14th Subscriber play closed for a 9% gain and the April 13th play for a 5% loss.

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