The stealthy weakness in this market
While the indices are either closing in on new highs (NASDAQ) or at/above new highs (S&P and Dow), the weakness in this market and even the strength, for that matter, is not where traders may think it is.
While the indices are either closing in on new highs (NASDAQ) or at/above new highs (S&P and Dow), the weakness in this market and even the strength, for that matter, is not where traders may think it is.
There is a lot to still like to the upside, and that mostly focused on the US dollar and energies which have been the gift that keeps on giving.
Macy’s has all of the moving averages on the side of the bulls. I like it going into Christmas season. Earnings are estimated Nov. 18.
Let’s do what we do every Friday, and review the core markets and the periphery to see how things are aligned into next week.
Huge bounce back to the all time highs, but is everything really as good as it looks from the outside? Let’s review.
Earnings, overbought levels, strong energy and strong dollar. There is no lack of markets making moves.
Since we’ve had a pullback, here are levels on the Daily and 30 minute charts. Have a great weekend!
Friday morning should bring some short term opportunities in TSLA. Let’s walk through that setup and its potential, along with some longer duration ideas in the home building sector.