The market looks positive this week as we wait to hear from the Fed on the debt ceiling situation. Taking a step back, It has been a challenging year for most stocks. But part of that is because they had no direction. Most of them were hibernating after getting destroyed in 2022. But enough time … Read more
The SPY finally broke out yesterday on news that House of Representatives Speaker Kevin McCarthy said he is hopeful they will reach an agreement on the debt ceiling deal by Sunday. We all knew they would, but they have to play the game. The market started to break the trend lines while I was live … Read more
The Consumer Price Index (CPI) report had the market on a spin cycle on Wednesday but ended at the highs. The market is being supported by narrow breadth. Apparently, that is enough to keep the market rising despite neutral internals. The market started lower on Thursday and continues its sideways action. My Moxie Indicator™ Mastery … Read more
Let’s take a step back and review other countries ‘ETFs to get an idea of what the rest of the market is thinking. Using my Moxie Indicator, I’ll show you a moving average trick that I use to help determine which way the price could go. We must be aware of critical signs that indicate … Read more
On Wednesday, May 3rd, we had the FOMC event and Federal Reserve Chairman Jerome Powell’s Q&A session. They changed some wording from the previous statement, but he remained fairly hawkish. He did not say they would pause with interest rate hikes yet. He only stated they would be data-dependent. Let’s see what the charts are … Read more
Looking at the monthly time frames of the major indexes, you would think we are in a pretty strong market. While a few names have done well, support is not broad-based, and breadth is poor. So will participation start to get better eventually, or will the indexes succumb to the poor breadth? This week, pay … Read more
The old phrase, “sell in May and go away” is starting to warm up. With FOMC next week, it might be the double trigger to kick off a down move. Stay tuned. Stay up-to-date on the market reactions to FOMC next week. My Moxie Indicator™ Mastery Program members learn how to combine fast-moving signals and … Read more
The Put/Call ratio is low and getting to a point where the market usually changes direction. The long side could run out of strength, and we could see a reversal. We then look at the internals and see they also confirm some weaknesses. The Nasdaq (QQQ) also shows an inverse trampoline move, be careful on … Read more
The indexes have done a remarkable job of staying over certain moving averages and crawling up. I am seeing signs that we are likely to see a pullback soon, though. We are never quite sure what the pullback will look like, so let’s take it one piece at a time and be prepared for quick … Read more
Many traders have been talking about complacency phases in specific stocks. In today’s video, I reviewed a few charts that suggest opposing market outcomes. We don’t know the answer to these outcomes yet, but we can keep our minds open if we learn to understand the possible results and what they mean for the market. … Read more