|Day Low/High||2,820.49 / 2,843.12|
|52 Wk Low/High||1,508.48 / 2,925.07|
Are equity markets oversold? Sorry to say, but I don't think so. Not yet.
Plus, the chart of Novocure Limited is a real attention-grabber while the chart of Apple bears watching.
What happens after this is likely a flurry of deals that will require more selling and that begins to cut into the tech stocks with much lower valuations like Facebook, Apple and Alphabet.
The recent market leaders appear to be running out of steam, while stalwart stocks are grinding higher, with Verizon notable among them.
The FOMC, and Powell himself, will have to address the central bank's plan to target average consumer level inflation over time.
TikTok tries to satisfy the Gordian Knot of Trump push and Chinese pull through partnership deal with Larry Ellison's Oracle.
Also, several scheduled events this week, election risk, earnings to watch.
The power and beauty of the stock market is that there are new opportunities every day.
Breadth has turned negative and a number of the leading market stocks (e.g. Amazon , Google and Microsoft ) have turned into the red.
* My revised levels I don't want there to be any ambiguity about the size of my positions or about my buy and short levels as I strive for as much transparency as possible. "When the time comes to buy, you won't want to." -- Walter Deemer "When the ...
Giant money managers give sweeping views of investing in "the market" while the small investor is looking for great individual stocks.
* A river is generally easier to channel than to stop. * But these are not typical investment times. * Given the unusual nature, artificial/distorted conditions (fiscal and monetary policy) and outside influences -- SoftBank (I am short), David Port...
Plus, an early look at third-quarter earnings expectations and an admonition to heed the words of Arthur Cashin.
Masayoshi Son, the man behind the Softbank Group, has orchestrated a trading strategy that has helped push call-option trading on U.S. tech companies to US$335 billion per day.
This covered call strategy is an effective way to navigate an overbought market.
How September markets digest August ahead of momentous events will be far more important to uptrend maintenance than how August closed.
Here's what I expect to happen to the market near term off this potentially game-changing development.
Let's look at the Dow Jones' swapping of Exxon for Salesforce, Pfizer for Amgen and Raytheon for Honeywell.
These big names are not smoke and mirrors, if you look at what they really do.
Is that a sign of a healthy market?
Six of the eight active names are in positive territory.
There's only so much leverage that can be used and it, like so many other things, has diminishing marginal returns.
Weak breadth is a warning sign that market participants must heed, though so far it has not produced correlated selling of equities.
The headline numbers don't present the full story of what is going on with the equity markets.
The poor breadth could clear up like a bad cold, or develop into something more severe.
It may just be a matter of time before the green chokes on the pestilence and the stock market stars don't even matter.
Make no mistake, we're at the beginning of the demise of the dollar, but we're still years away from a total collapse.
The stock market is out of sync with the current economy, but it can be a forecasting machine. Let's see what it says.
Can an upside breakout on Alphabet lift the Nasdaq to even greater heights?