There is an old stock market adage, “sell in May and go away,” as the worst six performing months of the year for stocks begins this month (Stock Trader’s Almanac). Some thoughts to ponder from TraderPlanet.com Editor in Chief Darrell Jobman on this phenomenon, and whether investors should heed it. Market Commentary: Monday, May 4, [...]
Stock index futures are lower in early trade as swine flu has grabbed headlines. Lind Plus Senior Market Strategist Jeff Friedman notes June S&P futures remain above the 20-day moving average at 834, which is positive, but technical momentum indicators, the Stochastics and Relative Strength Index (RSI), are bearish and suggest a short-term top may [...]
Lind Plus Senior Market Strategist Jeff Friedman sees resistance in June S&P at 866-870, and cautions that we could see a possible 5% correction at any time after the market’s 30% rally from its lows. He said he thinks the market is overbought, but for now,”don’t fight the tape.” Listen to Jeff’s full daily podcast. [...]
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The March Producer Price Index came in down 1.2%, and was flat excluding food and energy. It was the worst year-over-year reading since 1950. Retail sales were slightly negative, down 1.1% in March, with retail sales excluding autos down 0.9%. Lind Plus Senior Market Strategist Jeff Friedman said the stock market is overbought and looks [...]
Stock index futures were down again after the latest data on weekly initial claims for unemployment insurance jumped 32,000 to a seasonally adjusted 516,000, a seven-year high. The market is closing in on a test of its October lows, at 825 in the December S&P futures. Lind Plus Senior Market Strategist Jeff Friedman said technical [...]
Stock index futures are up in early trade after the Conference Board reported its index of leading economic indicators rose 0.3 percent in September, improving after a 0.9 percent drop in August. The market is also absorbing comments from Federal Reserve Chairman Ben Bernanke this morning, speaking before the House Budget Committee. He gave his [...]
December S&P 500 futures are seeing a relief bounce after another volatile and bearish session Wednesday, last up 25.75 at 1006.75. Lind Plus Senior Market Strategist Jeff Friedman said that while the market is oversold and this bounce could actually stick today, technical momentum indicators, Stochastics and the Relative Strength Index (RSI), remain neutral to [...]
