Trading Places with Tom Bowley

Futures Down Sharply; The 9th Calendar Day Of Month Strikes Again

Market Recap for Wednesday, November 8, 2017

It was another day of records for most of our major indices with the Dow Jones, S&P 500 and NASDAQ all closing at their highest levels ever.  Consumer staples (XLP, +1.09%) led the advance and I feature this group in the Sector/Industry Watch section below, showing how it's recovered nicely following a recent breakdown in price action.

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Russell 2000 Takes Biggest Hit In Three Months; Watch This Support Level

Market Recap for Tuesday, November 7, 2017

Small cap stocks felt a slight tremor on Tuesday as the Russell 2000 ($RUT, -1.26%) suffered its worst day in nearly three months.  While losses never feel good, I believe the RUT is in a bullish advance similar to the one it enjoyed in 2013 with weekly price momentum accelerating after a 50 week SMA test in August.  That would indicate that the rising 20 week EMA should provide excellent support:

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Energy Explodes Higher As Crude Oil Tops $57 Per Barrel; Time For Small Caps Again?

Market Recap for Monday, November 6, 2017

Energy (XLE, +2.29%) shares made a huge advance on Monday as money rotated to this once-forgotten sector in a very big way.  Bull markets thrive on broad participation in rallies and the XLE had been one sector not participating.  That is no longer the case as all technical signs point to higher prices in this space.  Here's the latest look at the XLE:

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Familiar Names Pace Healthcare, Technology; Major Indices Rise Again

Special Notes

First, please join me and Erin Swenlin for MarketWatchers LIVE every day from Noon EST to 1:30pm EST.  We discuss key technical developments that you need to be aware of as you manage your wealth.  Previously, MarketWatchers LIVE aired just three days a week, but beginning today, you can join us five days a week!  

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Facebook Falters After Earnings, NASDAQ Now Looks To Apple's Strong Report

Market Recap for Thursday, November 2, 2017

Financials (XLF, +0.94%) and industrials (XLI, +0.57%) led a Dow Jones rally on Thursday.  Goldman Sachs (GS) paced the financial stocks in the Dow with more than a 1% gain, while Boeing (BA) was the best performing Dow component and the obvious leader in industrials.  It was not really a broad-based rally on Thursday, however, as the NASDAQ actually lost ground despite an early push higher in Facebook (FB) following its better-than-expected quarterly earnings report.  It was likely a "buy on rumor, sell on news" type of even for FB as solid earnings were anticipated by traders, especially after seeing Amazon.com (AMZN), Microsoft (MSFT), Alphabet (GOOGL) and Intel (INTC) all report such great quarterly results and watching all four stocks gap higher in response.  FB was up temporarily in after hours trading on Wednesday, but gapped lower at the opening bell yesterday.  It has short-term support in the 174-176 area as follows:

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Transportation Services Is A Live Case Study In Rotation After A Negative Divergence

Market Recap for Wednesday, November 1, 2017

U.S. stocks jumped higher out of the gates at Wednesday's open, but was unable to hang onto those gains - especially on the NASDAQ.  We did see a bit of strength in the final couple hours, though, after the FOMC policy announcement stated that interest rates would remain unchanged for now with a potential rate hike in December.  Traders expect that rate hike so there was a bit of relief perhaps that no action was taken currently.

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Crude Oil Threatening Break Above $55 Per Barrel; A Look At Transports

Market Recap for Tuesday, October 31, 2017

Don't look now, but crude oil prices ($WTIC) are on the verge of moving to a 2 1/2 year high.  Energy (XLE, +0.33%) has shown life since ending its downtrend that began back in December 2016.  Rising prices in crude would help to "fuel" the space in the months ahead so keep an eye out for that breakout:

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Small Caps And Healthcare Take Brunt Of Monday's Selling

Market Recap for Monday, October 30, 2017

Weakness permeated the U.S. stock market on Monday with the small cap Russell 2000 losing more than 17 points, or 1.15%.  Other U.S. indices mostly followed suit, although the NASDAQ gave back very little from Friday's massive gains as large cap technology giants continued to perform well.  Traders in Apple (AAPL) now are gearing up for what they believe will be blowout numbers on Thursday after the close.  AAPL gained 2.25% yesterday to close at an all-time high.  Facebook (FB) reports its quarterly results on Wednesday after the close and also finished at an all-time high close Monday.

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Seven Fresh Monday Setups As We Approach The Seasonally Bullish Month Of November

Special Note

Every Monday, I provide possible short-term trade setups (today's featured setup is reflected below in the Monday Setups section).  All of these setups, along with setups from the past few weeks, can be accessed by CLICKING HERE.  If you'd like to review these setups each Monday and read my daily market recap and forecast, please subscribe at the bottom of this article.  Simply type in your email address and click on the green "Notify Me!" button and my article will be sent to your inbox every morning before the stock market opens.

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U.S. Markets Rebound; Tokyo's Nikkei Surges Above 22000

Market Recap for Thursday, October 26, 2017

U.S. indices spent Thursday attempting to bounce back from losses earlier in the week.  Based on that goal, it was mostly a successful day as most major indices finished with fractional gains.  The NASDAQ lagged, ending the session with a loss of 0.11%.  Most sectors were positive, although healthcare (XLV, -1.00%) was a very clear laggard.  The Dow Jones U.S. Biotechnology Index ($DJUSBT) fell slightly more than 3% and that clearly weighed on healthcare.  Health care providers ($DJUSHP, +1.19%) and medical supplies ($DJUSMS, +0.96%) bucked the biotech selling and actually finished quite strongly.

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