Mish's Market MinuteSeptember 17, 2020 at 06:44 PM
Yesterday, we were watching the VXX to gauge fear in the market. Today, it gapped higher and then continued to sell off while the indices gapped lower and began to rise...Read More
Mish's Market MinuteSeptember 16, 2020 at 04:31 PM
Last night we wondered, is the market correction was over? After all, both SPY and QQQs traded into resistance. For SPY, that number is 342; for the QQQs, it's 282. The DIA had to hold 28,000. Today, SPY tried to clear 342, but wound up closing red and under 340...Read More
Mish's Market MinuteSeptember 15, 2020 at 04:56 PM
Is the market correction over? Although a 10-15% correction is normal, the bigger question is whether the bounce we just saw from recent lows is a sell (rather than buy) opportunity. Both SPY and QQQs are trading into resistance...Read More
Mish's Market MinuteSeptember 14, 2020 at 07:16 PM
On Friday the 11th, the QQQs (Nasdaq) and IWM (Russell 2000) both closed under the 50-DMA. They were not followed by their friends the DIA (DowJones) and the SPY (S&P 500)...Read More
Mish's Market MinuteSeptember 11, 2020 at 06:53 PM
Partly inspired by our recent trip throughout the West, and also partly inspired by our long position in Teck Resources Limit (TECK), which gained over 11% on Friday while the SPY closed basically flat, coal is the topic for the weekend...Read More
Mish's Market MinuteSeptember 10, 2020 at 06:34 PM
WIth the SPY, QQQ, DIA, and IWM closing down on the day, now it's a good time to check the health of the Modern Family to give us a bigger picture of the market. Above, you can see the weekly charts for Modern Family (IWM, IYT, XRT, KRE, IBB, SMH), all keys to the larger picture...Read More
Mish's Market MinuteSeptember 09, 2020 at 05:35 PM
The 50-DMA did its job! After a perfect touchdown in the NASDAQ QQQs to the 50-DMA at 270, today the NASDAQ gained 2.92%. All the issues for the tech drop -- Softbank, overbought conditions, lack of a stimulus deal, China tensions, vaccine delays, etc...Read More
Mish's Market MinuteSeptember 08, 2020 at 07:05 PM
Last Friday, we noted how major symbols (QQQ, IWM, JNK, SMH) bounced off the 50-DMA. Now, with the market still undecided, we can build a plan on what to look for if we break under the 50-DMA. Let's take a look at the QQQs and the SPYs on a daily chart below...Read More
Mish's Market MinuteSeptember 04, 2020 at 08:03 PM
After 2 major sell-off days, the market bounced late Friday off the 50-day moving average. Coincidence? First, why do we care about the 50-day moving average? The most common inputs for the Moving Average used by traders and market analysts are the 50-, 100- and the 200-DMAs...Read More
Mish's Market MinuteSeptember 02, 2020 at 04:54 PM
As mentioned yesterday, the Big Banks ETF (XLF) and Regional Banks ETF (KRE) are two of the weaker sectors. However, today we saw some money rotate into those sectors, with XLF rising over 1% and KRE rising marginally at .4%. Goldman Sachs (GS) cleared a key moving average...Read More