Our Stock Chart of the day is the US Oil Fund (USO) and we are going to review the stock charts using our multi period contrarian trading style. We believe that the crude oil is in a secular bear market.
March 8, 2017
The Chart of the Day belongs Mesoblast (MESO). I found the biomedical stock by using Barchart to sort today’s Top Stocks to Own list first for the most frequent number of new highs in the last month, then again for technical buy signals of 80% or
The market has rallied off the 2009 lows, and most people are convinced that the Fed powered the move. In fact, most were certain that once QE ended, the market would drop. And, they currently maintain this conviction despite the
It looks like the short-term trend has peaked. Actually, it probably peaked a few days ago. The market advance/declines and up/down volume are pointing lower. Junk bonds have been hinting at some weakness for a couple days. Small caps are
Second consecutive day where the market sells off in the final 30 minutes of trading rather than blast higher into the close as has been the norm for the market for years now. There has definitely been a change in
The NYSE McClellan Oscillator (aka NYMO) is at its most oversold level since last November (in the correction just prior to the election). With data going back to 1998, the current level (-77.73) is more oversold than 98% of other days. Historically,
Sometimes, what catches the eye is the reflection rather than the thing itself. For quite some time, the thing itself has had enough shine to superficially attract onlookers. However, with the 5th day in a row of declines in the Russell
Podcast: Play in new window | Play in new window (Duration: 12:12 — 7.0MB) DOW – 69 = 20,855 SPX – 5 = 2362 NAS + 3 = 5837 RUT – 8 = 1366 10Y + .04 = 2.55% OIL – 2.95 = 50.19
The stock indexes end the day slightly lower once again. As rates move higher all eyes will be on the jobs report on Friday to see if the report will affirm the expected rate hike next week or give the
It is starting to look like employers have bought into the animal spirits and market psychology euphoria and are hiring at precisely the worst possible time as the hard data is signaling an upcoming downturn in the overall economy. It
