The overall trend and support levels are still in place but short-term breadth is bearish. The sectors are mixed, half up, half down. The S&P 500 ($SPY) broke support at $210, but has held.  I am going to watch the $213; a break above that level would be bullish. Another development has been the move […]

The S&P 500 ($SPX) looked like an early breakout candidate, running to 2120 mark, only to finish the day at 2114. The pivotal question now is what is keeping this market afloat? For one, Small-Caps ($IWM) took a big leadership role yesterday with a 1 percent gain. Qorvo Inc. ($QRVO) ~ 1percent of the Small-Cap […]

I was reviewing the Seasonal Chart for Small-Caps ($IWM) and this sector has been lagging the overall market since mid-April. Now bulls, worry not. We do have short-term resistance at $127, and the 20 & 50 day forecast higher. The bulk of the trend evidence remains bullish. Looking back I also like the fact that […]

Over the last few weeks you have most likely been reading that the DOW Transport Index ($IYT)  has been lagging. Now it has been acting like an anchor, sinking ~2 percent last week. This action parleyed with the action in the Utilities ($XLU) and the Bonds ($TLT), with the DOW Jones Industrial Average ($DJA) below […]

The opening yesterday in Stocks must have had closet bears thinking that a challenge of the 2100 level in the S&P 500 was in the making. But, the market firmed and rebounded and the Bear went back into his hole. Now I do not know if this means six more weeks of a bull market, […]

We continue to see a divided market in terms of Short-term breadth indicators. The amount of advancing stocks is starting to plateau versus stocks pulling back, which is bearish. But dips are being nibbled, especially in highly desired names, on any pullback. This could explain the choppy action and why we have not slipped into […]

Definitely some broad based selling pressure in all the major indexes. Most of the index ETFs that we follow was down roughly 1 percent. The Consumer Discretionary ($XLY -.71 percent) and the Utilities ($XLU -.63 percent) were really the only sectors that were not down a percentage. The Regional Bank ($KRE) held up relatively well […]

Last week we had the S&P 500 ($SPY), Nasdaq ($QQQ) and the Mid-Caps ($MDY) all confirm new highs. But we have yet to see the Small-Caps ($IWM) confirm. At this stage, I may put up a yellow flag on the current trend of the market. But I am hesitant for two reasons. First, three out […]

This has been a frustrating market to say the least. The S&P 500 ($SPY) hit new highs this week but still remains in a choppy uptrend.  Most days the large-cap index just chops around unchanged, or at least that is how it feels.  Yes it is hard to buy the trend at this stage, but […]

Yesterday I received an offer from a competitor of my current cable TV provider. Now I am not going to go into the merits of changing cable companies, but it did get me thinking about the space, and specifically what is going on with the cable and media stocks. I found an ETF that tracks […]