Market Weakness, July CPI, Charting Fed Economic Data, Trading Disney

Some things just stay filed away in the back of one’s head for a lifetime. It was the morning of November 10th, 1982. By morning, I mean zero dark thirty. There would be no field training that day. We had just entered the mess hall on the Camp Geiger side of Camp Lejeune. Suddenly… We … Read more

This Market Could Get Bumpy, So Sit Tight

For the first time in weeks, I can report that breadth was not good during Tuesday’s market. If we use net volume, which I prefer for Nasdaq, that’s up minus down volume — it was the worst in nearly two months. So that dates back to the latter part of June. Was it bad enough … Read more

This Market Calls for Short-Term Plans

Investors started some mild selling as they prepared for a very important consumer price index report on Wednesday morning. Breadth was more than two-to-one negative, and the recent winners, such as biotechnology, growth, and small caps suffered the most. There was no major rush for the indexes, but there was some increased caution in front … Read more

There Are Interesting Things Happening Beneath the Surface of This Market

The senior indexes finished the day with mixed returns, but under the surface, there continued to be pockets of strong speculative action. The Russell 2000 led the way Monday with a gain of more than 1%, which is reflected in the breadth of around 5,775 gainers to 2,450 decliners. There still are very few new … Read more

The Market’s Strength Gains More Traction

The market’s recent strength is gaining further traction and is becoming extremely frothy as favorite meme names such as AMC Entertainment (AMC), GameStop (GME), and Bed Bath & Beyond (BBBY) are exploding higher. There is increased focus on trying to squeeze stocks that are heavily shorted, and there are clear efforts to take advantage of … Read more

July 21 Was A Significant Day for the Gold Futures Market – Barchart

July 21 Was A Significant Day for the Gold Futures MarketBar chart

The Next Phase of the 2022 Bear Market Could Start Soon

Town BRUCE KAMICH Aug 04, 2022 | 1:00 PM EDT Stocks quotes in this article: COST, AAPL, SPY, QQQ, DIA I have been writing recently about rising wedge patterns on Costco (COST) here and on Apple (AAPL) here. I devoted Chapter 9 in my book “Chart Patterns” to wedges. Let me show you potential rising … Read more

Here’s Why Apple Has Me Nervous About the Stock Market

Town BRUCE KAMICH Aug 04, 2022 | 11:36 AM EDT Stocks quotes in this article: COST, AAPL Real Money readers may remember a story I wrote about Costco (COST) on July 26 where I discussed a possible rising wedge pattern. Today I noticed the same chart pattern on shares of Apple (AAPL) and this is … Read more

If It Feels Like a Bull Market, Is It a Bull Market?

Strong speculative action continues on Wednesday morning. Breadth is running around 2 to 1 positive, and there is strong trading in many small-caps, biotechnology, and growth names. This feels like an old-fashioned bull market in certain areas of the market right now, but you can’t help but wonder how much longer it will last. While … Read more

Resilient Equities, Fed, Treasury Markets, Jobs, Credit Card Debt, Trading AMD

Debt and equity markets sold off for a multitude of reasons on Tuesday. All in all, though… I think one would have to say that equities have been quite resilient to this point. Sure, the Dow Industrials were weak on Tuesday, surrendering 402 points or 1.23%. That said, the Dow Industrials are narrow in nature … Read more