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The NASDAQ , S&P 500 and Dow Jones are all struggling to maintain the anemic rally that has ensued for the past 1.5 weeks. Volume continues to dissipate in most major indices, SPY’s 14 day volume simple moving average has been on a downtrend since early-mid February.
Today’s options action has been [...]
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What started as another flat day in the markets, is turning out to be a bullish one…Even though overall stock volume remains light, we are still seeing some heavy options activity.
Already, there has been quite a bit of spread activity all around with heavy action in Cisco Systems, Inc. (CSCO). This [...]
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Are we having earnings déjà vu all over again?
Let’s review:
Last quarter the market hit a hiccup in the end of June, sold off from a June-closing high of 944 in the S&P 500 index, down to 880 as we entered Q2 earnings.
This quarter the market has retraced from a high of 1071 [...]
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With August almost in the books I believe it is worthwhile to look at some specific sectors and stocks relative to the major market averages.
For a reference point the SPX index started the year at a level of 903.25. So with today’s close at 1028.93 the overall market is up almost 14%. It is more [...]
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