A Simple, Quiet Breakout for the Stock Market – The Market Breadth

A Simple, Quiet Breakout for the Stock Market - The Market Breadth

Stock Market Commentary I saw a simple test for distinguishing bearish and bullish signals after META’s post-earnings swoon last month. A quick rebound following failed tests at resistance complicated the picture. The price technicals and dynamics returned to simple as a synchronized yet quiet breakout unfolded last week across the S&P 500 and the NASDAQ. … Read more

Market Breadth Ends Q1 with An Important Breakout – The Market Breadth

Market Breadth Ends Q1 with An Important Breakout - The Market Breadth (Credit: I Get Up and Nothing Gets Me Down! JUMP!, by Guian Bolisay https://www.flickr.com/photos/44312356@N04/6187257947)

Stock Market Commentary The stock market put an exclamation point on the end of the previous week’s statement performance. Market breadth made an important breakout to a 2-month high and almost looks ready to return to overbought conditions. Such a milestone would finally align my favorite technical indicator with the relentless strength in the stock … Read more

What Happened to the Housing Market – Breakouts and Bottoms | Feb, 2024

what happened to the housing market - construction site

Housing Market Intro and Summary What happened in the housing market in February, 2024? Breakouts and bottoms happened. In my previous Housing Market Review, I posited the possibility of a top in the seasonal trade on home builders. In the subsequent month, the stocks of home builders took on new life as investors forgot about … Read more

A Breakout Week Ends with A Key Setback – The Market Breadth

key setback (Credit: Levee L550 Upper Breach Aerial of Setback Construction 4 by OmahaUSACE on Flickr)

Stock Market Commentary The stock market pushed into overbought conditions last week. After one follow-through day, small caps wilted and dragged down market breadth toward the overbought threshold. That key setback raises the stakes of the current earnings period. I will try to look through the likely “chop” in the trading action, to identify on-going … Read more

Stocks Wake Up With Key Breakouts – The Market Breadth

wake up with breakouts (Credit: My cat's waking up by jestersgrin on Flickr)

Stock Market Commentary: What was quiet in the prior week is now loud and clear. Led by the NASDAQ, the stock market is in breakout mode. While market breadth is not quite endorsing the move, key breakouts are showing up in the indices and individual stocks. The inability of sellers to take advantage of bad … Read more

Overbought But Making A Bullish Case With Key Breakouts – The Market Breadth

bullish case (Credit: LEGO Collectible Minifigures Series 9 : Judge by wiredforlego on Flickr)

Stock Market Commentary: Last week was a bullish week for the stock market. Key breakouts on the major indices made a bullish case for stocks as buying strength conjured up overbought trading conditions. Yet another post-CPI celebration sealed the deal on a bullish convergence leading into the report on inflation. While it is tempting to … Read more

CPI Shocker Unplugs Market’s Breakout – The Market Breadth

unplugs

Stock Market Commentary: Pricing pressures are apparently NOT easing just yet. The August CPI report turned “peak Fed” into “fear the Fed” all over again. Instead of falling, core inflation (CPI excluding food and energy) increased a whopping 0.6% month-over-month. This surge pushed the 12-month core inflation rate up from July’s 5.9% to August’s 6.3%. … Read more

A Synchronized Breakout Flips the Script On Sentiment – The Market Breadth

synchronized breakout (credit: Nixter https://www.flickr.com/photos/12097621@N00)

Stock Market Commentary: The confluence of market-moving news the last two days of the week resolved into a stock market looking incrementally healthier. A synchronized breakout above resistance at respective 50-day moving averages (DMAs) flipped the script on the negative sentiment that dominated trading going into last week. While weakness in the U.S. dollar from … Read more

A Serious Setback for the Synchronized Breakout – The Market Breadth

setback

Stock Market Commentary: The synchronized breakout looked impressive, but it already hit a serious setback. Friday’s downbeat day was relatively mild on a percentage loss basis, but the context was important. The economic setback came from the July update for the S&P Global Flash US PMI (Purchasing Managers’ Index™) Composite Output Index. The headline says … Read more

A Synchronized Breakout Sends Bear Market Hope Soaring – The Market Breadth

Photo by Joshua Brown on Unsplash

Stock Market Commentary The synchronized breakout looked impossible just yesterday. Apple (AAPL) reversed course with a 2.1% loss that seemed to confirm recent strength was just a bear market tease. Rumors spread through the market that Apple will announce a hiring slowdown and reduced spending. Today, all was forgotten as the major indices all enjoyed … Read more