Stocks Stand By While China and Yen Surge – The Market Breadth

stand by (Credit: Mark Hodson Photos, www.101holidays.co.uk)

Stock Market Commentary The U.S. stock market hardly reflected last week’s action-packed news. China scrambled to address a weakening economy with a massive stimulus program with news rolling nearly all week. In Japan, voters elected a Prime Minister who favors a stronger currency in the Japanese yen (FXY). Capping the anti-climactic feeling in U.S. stocks, … Read more

Did NVIDIA’s Earnings Surge to All-Time Highs Trigger Stock Market Exhaustion? – The Market Breadth

AT50 (MMFI) reversed almost half its gains from May after falling short of the overbought threshold.

Stock Market Commentary I looked to last week’s earnings from NVIDIA Corporation (NVDA) with great anticipation. The indices gathered momentum with all-time highs and seemed to point to a big moment for NVDA. NVDA did indeed have a big moment, but it helped precious few. In fact, NVDA’s gain looked like a net loss. Buyer’s … Read more

The Fed Further Stretched Overbought Conditions – The Market Breadth

stretch (credit: Lynn Friedman on Flickr)

Stock Market Commentary For traders like myself who follow market cycles from extreme fear to extreme euphoria, last week’s trading action was astonishing. The stock market was already well overbought and stretched going into Wednesday’s Federal Reserve meeting. Yet, buyers STILL managed to go into extreme stretch mode. The Federal Reserve essentially declared the death … Read more

Oversold Trading Awaits – The Market Breadth

Oversold

Stock Market Commentary The Federal Reserve helped unlock the stalemate in pricing action that stalled the bearish divergence tugging the market toward oversold trading conditions. Fed Chair Jerome Powell once again told financial markets the Fed remains as hawkish as ever. Expectations contracted for rate cuts next year, interest rates soared, and stocks plunged. While … Read more