Stock Market Support Melts Away, Delays Launch to Higher Prices – Above the 40 (October 26, 2020)

Stock Market Statistics AT40 = 46.3% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 51.9% of stocks are trading above their respective 200DMAs (8-month high) VIX = 32.5 Short-term Trading Call: cautiously bullish Stock Market Commentary The stock market looked like it was warming up from a period of cooling … Read more

Chart Review – These Giants Are Falling

Near the end of the last oversold period toward the end of June, I identified three stocks that I claimed had to hold support to maintain a bullish outlook for the stock market for various reasons: Proctor & Gamble (PG), Clorox (CLX), and Oracle (ORCL). I titled that piece “Chart Review: These Giants Must Not … Read more

Chart Review: These Giants Must Not Fall – PG, CLX, and ORCL

On June 20, famed money manager Doug Kass tweeted a stock market warning: “once again the strength in consumer non durables (pg pep cl clx k gis etc) are a market warning sign.” So what happens when these stocks start to break down along with so many others? Is their weakness suddenly a harbinger of … Read more