Nov 6 Jobs Report Friday Update and Stock Scan

With a stronger than expected Jobs Report this morning, it increases the probability the Fed will raise rates in December. That’s boosting the Dollar, initially sending stocks lower, collapsing Treasuries, and also weakening commodities. Let’s update our levels for the S&P 500 Index: In-depth analysis is always provided to members of the Premium Daily Reports…

Nov 4 Finally a Retracement Market Update and Stock Scan

Part of me can’t believe that the stock market can actually decline!  Unprecedented!  How can that happen?! Sarcasm aside, stocks logically retraced lower away from 2,115 toward the key 2,100 pivot level today. Let’s update our levels for the S&P 500 Index: In-depth analysis is always provided to members of the Premium Daily Reports –…

US Still the Strongest of a Downtrending Global ETF Bunch

When comparing the relative strength of the US Stock Market against a basket of overseas (global) ETFs, the SPY (S&P 500) is the strongest market. Let’s compare the SPY with 8 other global ETFs to get a quick sense of relative strength and weakness. The chart above uses a custom TradeStation Color-Bar indicator to highlight…

Nov 3 Short Squeeze Continues and Trending Stock Scan

The buyers collectively were successful in extending the short-squeeze manipulation of the stock market higher, resulting in the logical bullish price action (via stop-losses of the bears) as the S&P 500 crested above the key 2,100 level. Today’s session extends the short-squeezed Trend Day of yesterday. Let’s update our levels for the S&P 500 Index:…