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STTG Market Recap May 21, 2013
It was a Tuesday in 2013. Thus the market was up. Simple enough. We've seen a remarkable streak of 19 up Tuesdays in a row for the DJIA - essentially the entire year. It's not the only record breaking streak - they are falling all over the place, we'll touch on one from SentimenTrader at the end of today's recap. There was no real economic news flow today but two Federal Reserve speakers including the important NY Fed head William Dudley. Both were dovish ahead of Ben Bernanke's testimony tomorrow on Capitol Hill. That should be the main event of the week along with the FOMC minutes to be released tomorrow at 2 PM and then it seems most people will begin to slither out early for the weekend holiday as the "market on autopilot" simply churns sideways or goes up day after day, week after week. Today the S&P 500 gained 0.17% and the NASDAQ 0.16% in a quiet session.Original post: STTG Market Recap May 21, 2013
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STTG Market Recap May 20, 2013
Welcome back to a new week as we enter the latter third of May. Remember the old adage "Sell in May and go away?". If only the world were so simple; you'd have missed a heck of a month by "going away". A better strategy is reduce exposure/be cautious when technicals tell us to, and stay involved otherwise. In that vein there have been a few periods of 2013 to be cautious at the least, but really no spot to be extremely bearish and/or be heavy short as we had in summers of previous years.... thus far. Monday was a quiet day of consolidation after a huge run from mid April. We had the typical reasons for minor selling - a Fed member here or there talking of tapering (reducing) quantitative easing at some point in the future. This is going to be hanging over the market for many quarters, so get used to it. Economic data is light this week and all eyes will be on Wednesday when Ben Bernanke heads to Congress to testify and also the Federal Reserve minutes of the meeting a few weeks ago is released. The S&P 500 and NASDAQ both fell 0.7%.Original post: STTG Market Recap May 20, 2013
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Trading Signals for MetaTrader Review
MetaQuotes Software, the company behind popular platforms MetaTrader 4 and more recently MetaTrader 5, reached out earlier this month to have their new Trading Signals service reviewed. This is a paid review and my unbiased take on the product.Original post: Trading Signals for MetaTrader Review
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STTG Market Recap May 17, 2013
The 1000 point rally. To finish off yet another week of gains, the S&P 500 closed at 1666. Why does that number mean so much? Just over 4 years ago the S&P was 666 - a cool 1000 S&P points in 4 years and 3 months; remarkable really. These last 100 points have come almost at a breakneck pace; in about 4 weeks. While Wednesday and Thursday brought us a bevy of poor economic news (which the market mostly brushed aside), Friday there were some good data points. And when you cannot get the market to go down on bad news, you can see what happens when there is good news. The S&P 500 gained 1.03% and the NASDAQ 0.97%; much of this came in the last hour or so as the market has been rallying almost every session after 3 PM. It is now up 17 of the past 21 sessions and 10 of the past 12.Original post: STTG Market Recap May 17, 2013
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STTG Market Recap May 16, 2013
Stocks pulled back for just the 2nd session out of 11 (and 4th out of 20!) - losses seemed somewhat strong but that is only because we have become used to stocks up almost every day and when they fall it is of the 0.1% variety. Economic news was quite bad for a second day in a row - in the past 2 days there have been about 9 economic reports domestically and 7 could be characterized as misses. And for all that you have the most minor of pullbacks. Today's losses were not even due to the economic data (the market had been up much of the day) but due to comments from another Fed member about 'tapering' of QE purchases in the future - this is going to be a running theme go forward. The S&P 500 fell 0.5% and the NASDAQ .18% as a surge post earnings in Cisco Systems (CSCO) helped the latter.Original post: STTG Market Recap May 16, 2013
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