Watch out! Further confirmation for a correction!
January 18. 2015
Market Review
In last week's comment we highlighted the fact that we expected to see further sharp swings in both directions as the market remained in a tug-of-war for the very short-time frame. Moreover, we mentioned that we remained outright cautious as the current consolidation period could easily turn out to be corrective in its nature! In fact, after several extreme volatile sessions, stocks finished lower on the week, down about 1 percent. Although major U.S. benchmarks remained within 4 percent of their all-time or multiyear highs, the technical picture of the market continued to deteriorate, especially on a mid-term time frame. Therefore, major troubles might be at hand soon! Read MoreStay alerted! Make or break setup is forming!
January 11. 2015
Market Review
Last week all three major U.S. averages ended in negative territory again. The Dow Jones Industrial Average dropped 0.5 percent from last Friday's close to 17,737.37. The S&P 500 dropped 0.7 percent to 2,044.81 during the week. The Nasdaq Composite recorded a 0.5 percent loss for the week and closed at 4,704.07. Among the key S&P sectors, health care was the best weekly performer, while energy dragged. The CBOE Volatility Index, a measure of investor uncertainty, fell to 17.55. Read MoreAfter a short consolidation period, expect further gains into January!
January 04. 2015