Technical Analysis | FavStocks

Jobless Claims Beats!

28 October 2010 – 6:35 pm PDT

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The Dow continued moving sideways today, closing marginally higher by 12 points in yet another largely bearish day ending with huge support late in the session. FundamentalsJobless claims turned in much lower than 450K at last today (see Stock Market Calendar), giving the session a huge bullish start. However, profit taking set in almost immediately, [...]

Consumer Confidence Beat Estimates

26 October 2010 – 8:12 pm PDT

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The Dow moved sideways today, closing marginally higher by 5 points, coming back from deep intraday losses. FundamentalsMarket started out today deep in the red with the Dow going as low as -77 points as retail numbers before market open failed to impress. However, market rebounded off its low after Consumer Confidence turned in better [...]

Leading Indicators and Philley Fed Inline…

21 October 2010 – 8:49 pm PDT

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Leading Indicators and Philley Fed Inline…

The Dow moved sideways today, closing higher by 38 points as economic data turn in inline with expectations. FundamentalsLeading indicators and Philley Fed (see Stock Market Calendar) turn in inline with expectations today, spurring a short rally and the profit taking that I have mentioned a few days ago in the analysis given to paid [...]

Dow Retreats to 10,900

19 October 2010 – 7:28 pm PDT

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The Dow pulled back by a huge 165 points today on the back of mixed retail sales numbers. FundamentalsRetail sales numbers released today were mixed with both releases telling completely different stories. However, housing starts surprised to upside showing a recovery in the single family homes sector (see Stock Market Calendar). Amidst the mixed bag [...]

Economic Numbers Continue Recovery

17 October 2010 – 8:12 pm PDT

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As I have mentioned last Sunday, the Dow’s weekly 200MA level won’t be a piece of cake breaking and indeed it was so. Even though there was significant strength last week, the Dow still went up only by 0.51% on a week on week basis. Not surprisingly, last Friday’s options expiration did lead to a [...]

Jobless Claims Rebounds! Market Resilient!

14 October 2010 – 7:12 pm PDT

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Jobless Claims Rebounds! Market Resilient!

The Dow moved sideways today, closing down by 1 point as jobless claims turned back above the 450K line. FundamentalsJobless claims paid a short visit below the 450K line last week and came back with a vengeance today at 462K. Jobless claims have been threading along the 450K line all year and investors are definitely [...]

Market Continues Sideways

12 October 2010 – 6:28 pm PDT

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The Dow made another sideways day today, gaining a marginal 10 points as sales data recovers. FundamentalsThe slew of sales data today eased consumption fears as both the Store Sales and Redbook turned in positive. The Fed’s inclination for further easing in the 2pm FOMC minutes release (see Stock Market Calendar), also helped keep the [...]

Unemployment Rate Beats Expectation

10 October 2010 – 8:05 pm PDT

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The Dow gained 1.63% last week on a week on week basis as unemployment rate beat expectations in last week’s Jobs Report. Like I said last week, a positive surprise in the jobs report is the catalyst needed for this new bull trend to go the distance and that is exactly what we got last [...]

SPX Descending Triangle Possibility

6 October 2010 – 7:48 pm PDT

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Not sure how to go about this given the promise of QE II, falsified earnings and market manipulation. Let’s just assume they will not ramp the market from here and POMO wont be back till sometime in 2014. OK, what I dreamed up was the Descending Triangle Continuation possibility for SPX. What Stockcharts shows is [...]

Market Rally Continues…

5 October 2010 – 9:42 pm PDT

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The Dow gained 193 points today pushed on by better than expected ISM services. FundamentalsUS market staged a broad rally today as ISM services (see Stock Market Calendar) turned in better than expected. The ISM Non-Manufacturing Index (commonly known as ISM services index) is a monthly index that tracks the non-manufacturing industries in the US [...]