It looks like the market has run into a little resistance.  I have said over the past few days that we had a few key areas to overcome before we move higher.  The 50 day moving average is proving to be a hurdle for the market as of right now.  Let’s take a look at [...]

As I pointed out yesterday, the market was due for some rest. If this market is to move higher, we will need to see the market break through some of the resistance levels I mentioned yesterday. Some of those former leaders I mentioned yesterday like (AAPL: 262.92 +5.11) (GOOG: 470.58 +6.18) (BIDU: 84.19 +1.92) (RIMM: [...]

Let’s take a look at my closing comments from yesterday.
I am still cautious on this market and I think we have been missing volume in these moves.  *If* we do go higher, the indices will have to contend with their descending 50 day moving averages.  I don’t think we are out of the woods yet.

Now [...]

Today, the S&P500 barely broke its descending trend line of its symmetrical triangle formation.  The DJIA and the NASDAQ are still trapped in their traingles.  We went higher on news of a bailout for the bond insurers for the second straight day.  We got a follow through day with today’s action, but volume was a [...]

Friday had some last minute help on the news that (ABK: 0.524 -0.0239) will announce a bailout plan this week.  The last 30 minutes of the day erased all of the of the downside damage that had occurred on Friday.  We had a lot of mid-day reversals last week.  Here is what Investor’s Business Daily [...]