Stock Market Analysis |
Monday, March 26, 2018
Monday, March 12, 2018
Bulls Are Back!
Monday, March 05, 2018
Is This Intermediate Correction Ever Going To End?
Spring time is here and no, it barely feels like Spring in the US market as the market continues to struggle with the February intermediate correction after a failed attempt to test and hold the 30MA for support early last week.
However, that being said, the next few days still look extremely dangerous as even though last Friday was a positive close, it was still a day with a lower high and a lower low, making it more of a bearish continuation day rather than a bullish reversal day. Options traders are obviously not onboard with that positive close as they continued to trade in favor of put options, keeping total equities put call ratio above 1.0 in favor of put options trading.
This week, the market awaits the grandfather of all economic indicators; the jobs report, on Friday. Consensus is expecting a slightly better reading which isn't hard to beat given the position of the non-farm payroll being at around the mid point of the last 12 months. As such, looking at how the market is positioned in relation to this report, we might see the bears continue through the week before finding strength from the jobs report for a real reversal.
For now, the market remains in short term bear trend within an intermediate neutral trend and primary bull trend.