Market staggers along…downturn could occur SUDDENLY

The Market has once again shown resilience and recovered half of last week’s losses.  Whether it moves up or down is anyone’s guess.  I’m not being facetious when I say that forecasting conditions are in a “flip a coin” mode.  While the market has been displaying extreme resilience over the past few months, the price-actionContinue reading “Market staggers along…downturn could occur SUDDENLY”

COVID Range Bound Recovery

The S&P 500 has been faltering for the past three sessions and is back near mid-April levels.  For now it’s range bound between the upper 200 day moving average and the lower 50dma.  Flip a coin to determine if the market will breakout or breakdown from here.  Here’s my assessment of the current situation:  MEDIAContinue reading “COVID Range Bound Recovery”

COVID confirmed breakout above 50dma?

The Market looked like it might take a dip due to poor economic data.  Then today it popped back up when Gilead announced positive results from their COVID-19 treatment trial. Is this a head fake or a real breakout above the 50 day moving average?  It looks solid and the S&P 500 is only 2%Continue reading “COVID confirmed breakout above 50dma?”

2nd Wave Panic- Relief Rally Failing

As the COVID19 death tolls peak and stabilize, the Relief Rally looks like it’s failing.  The S&P 500 lost support at its 50 day moving average.  If it breaks its short term trend line at 2700, then it’s likely the index will fall to at least the 2500-2600 range. Given the extreme media pessimism overContinue reading “2nd Wave Panic- Relief Rally Failing”

Setup for Portfolio Re-balance

On Friday I took advantage of the relief rally to sell base positions so that I can prepare to re-balance for what I believe will be an inevitable recovery.  I sold and fully closed out of the following positions: IXJ  Global Health Care ETF NVO  Novo Nordisk SCHB  US Broad Market ETF SCHE  Emerging MarketContinue reading “Setup for Portfolio Re-balance”