Resilient Stock Market Blows Past the Whisper of A Bearish Divergence – Above the 40 (January 10, 2020)

AT40 = 58.7% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 59.0% of stocks are trading above their respective 200DMAsVIX = 12.6Short-term Trading Call: neutral Stock Market Commentary The bearish signals are growing, but they are still not impeding this resilient stock market. The ever so shallow selling acts like a … Read more

Still No (Trade War) Resolution In the Stock Market – Above the 40 (October 18, 2019)

AT40 = 56.7% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 49.9% of stocks are trading above their respective 200DMAsVIX = 14.3Short-term Trading Call: cautiously bearish Stock Market Commentary No Resolution The stock market did little to resolve my lingering skepticism over the meaningfulness of the “Phase One” or partial Trade … Read more

A Stock Market Stuck In An Obvious Trading Range Still Produces A Rich Set of Expectations – Above the 40 (August 29, 2019)

AT40 = 38.3% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 44.1% of stocks are trading above their respective 200DMAs (2-month low)VIX = 19.0Short-term Trading Call: neutral Stock Market Commentary The Trigger Finger On Tuesday (August 27), I saw enough hints of a flip from a bullish to bearish divergence … Read more

A Manic Stock Market Leaves Behind An Extreme August Drawdown – Above the 40 (August 9, 2019)

Much ado about nothing? The 15-minute chart of the S&P 500 (SPY) shows the gory details of a manic swoon to a near flat close for the week.

AT40 = 37.3% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 46.5% of stocks are trading above their respective 200DMAs VIX = 18.0Short-term Trading Call: neutral (caveats below!) Stock Market Commentary The S&P 500 (SPY) ended the week almost where it started. In between the bookends, the market gyrated wildly … Read more

Overbought Conditions Remain Elusive As Market Wavers Ahead of the Fed – Above the 40 (July 19, 2019)

AT40 = 58.4% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = ~52.4% of stocks are trading above their respective 200DMAs VIX = 14.5Short-term Trading Call: neutral Stock Market Commentary A week ago, the S&P 500 (SPY) made a new all-time, and I was expecting a trip into overbought conditions. AT40 … Read more

Above the 40 (May 3, 2019) – A Faithful Stock Market Push Through Bearish Divergence

AT40 = 63.4% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 55.1% of stocks are trading above their respective 200DMAsVIX = 12.9Short-term Trading Call: neutral Stock Market Commentary The stock market is keeping the faith. The previous week ended with a U.S. GDP report for Q1 2019 that represented well the … Read more

Above the 40 (March 15, 2019) – Bears Give Way to Breakouts As Stock Market Remains Precarious

AT40 = 61.8% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 43.0% of stocks are trading above their respective 200DMAsVIX = 12.9 (5-month low)Short-term Trading Call: bearish Stock Market Commentary The stock market’s scramble for support worked last week as buyers and bulls put the bears on notice. However, the rally … Read more

Above the 40 (March 1, 2019) – A Small Nick in the Ever-Lengthening Overbought Period

AT40 = 76.8% of stocks are trading above their respective 40-day moving averages (DMAs) (25th overbought day)AT200 = 45.8% of stocks are trading above their respective 200DMAsVIX = 13.6Short-term Trading Call: neutral Stock Market Commentary The trading action on the major indices is practically a broken record. An extended overbought rally just grows older and … Read more

Another Amazon Panic – This Time is Different for Pharmacies

Another Amazon Panic broke out last week. Amazon.com (AMZN) announced its purchase of PillPack as part of its entry into the lucrative business of selling drugs. The news immediately took down pill pushers like Walgreens Boot Alliance (WBA) and CVS Health Corporation (CVS). While WBA looks like it is already bottoming, sellers followed through with … Read more