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”

Market back in CORRECTION…

Just a quick update- it looks like the Market might finally be capitulating to the reality of the COVID Re-Opening Consequences.  The Market has been extremely resilient to bad news over the past 8 weeks, but today’s action looks detrimental. I don’t know if this pullback will hold but I’d like to see further deteriorationContinue reading “Market back in CORRECTION…”

Suckers Rally coming to an END?

Has the seven week Relief Rally morphed into a Sucker’s Rally?  I hope so.  I’ve been waiting for another buying opportunity. Today the S&P 500 was down 1.75%, not as bad as yesterday’s 2.05%; and unlike yesterday’s horrible close, today the index improved during the final minutes of trade.  But things don’t look good.  OverContinue reading “Suckers Rally coming to an END?”

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?”