The U.S. stock market continues to toy with investor’s emotions, oscillating between rising, stalling, and falling on a seemingly weekly basis.
Prior to Friday, the major indexes shrugged off a slew of worse than expected financial news.
Continue reading: Confirmed stock market uptrend lasts one day
Tuesday’s losses were enough to send a shot across the bow of the latest market uptrend. Trading volumes ran higher, delivering a third day of distribution.
With the rally only entering its seventh day, this latest round of selling put markets on notice that the current uptrend is under pressure.
Continue reading: Latest stock market rally encounters selling pressure
Last Friday’s huge price move and associated trading volume were enough to send us back into a rally. This was sort of price movement that has been absent in recent rally attempts.
Continue reading: Stock markets climb back into a confirmed uptrend
Just like the market action in early May, debt issues in the eurozone were the latest rally’s undoing.
Spain requested a blank check to bailout its banking industry, while Cyprus started the bailout application process.
And things went from bad to worse in Greece. The word on the street is that the new Greek Finance Minister, named to the position last week, has already resigned due to health reasons.
Continue reading: Stock markets enter correction as European woes continue
Less than one week after confirming the latest rally, the stock market’s were hit with a massive distribution day (June 21).
Each of the three major indexes fell over two percent, landing them beneath their 50 day moving averages.
Adding insult to injury was the fact that these losses came with higher trading volume, which is the mark of a distribution day.
Continue reading: Stock markets encounter selling pressure
The rebound in the general markets, seen since the beginning of June, has created enough positive momentum to put us back in rally mode.
Before everyone goes hog wild and jumps back into the market with both feet, keep in mind that the trading volume and price increase (in terms of percentages) were not very strong.
Continue reading: Stock markets enter a confirmed uptrend
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