August 2009 - Page 2 of 2

Wk31: Market Recap

August 10, 2009

Another positive week across the board with good news as the employment situation bettered in July. Small Cap and Tech continues to lead the market higher which is common when pulling out of recessions in past. We saw the bullish internals outweigh the bears this week with high/low closes of +1938/-536 on the NYSE, however +1167/-1003 on the NASDAQ. A pause could be in store, but sideways movement would be considered a positive thing at this point. The S&P500 came…

Wk32: Market Forecast

August 10, 2009

Tim Racette

Forecast

In the week ahead look for these news announcements to act as potential market movers…· Weds: International Trade 8:30 AM ET· Weds: EIA Petroleum Status 10:30 AM ET· Weds: Treasury Budget 2:00 PM ET· Weds: FOMC Meeting Announcement 2:15 PM ET· Thurs: Retail Sales 8:30 AM ET· Thurs: Jobless Claims 8:30 AM ET· Thurs: EIA Natural Gas Report 10:30 AM ET· Fri: Consumer Price Index 8:30 AM ET· Fri: Industrial Production 9:15 AM ET· Fri: Consumer Sentiment 9:55 AM ET…

Wk32: Stocks to Watch

August 10, 2009

Tim Racette

Watchlist

It may seem odd, but stock picking actually becomes more difficult in times. When markets are on runs higher many stocks are just rising with the tide. As it goes, “a rising tide lifts all ships,” so picking out strong stocks that have pulled back can be tricky. We like AAPL and BIDU on a breakout of its consolidation levels, however AMZN is forming a descending triangle with room to fall. Buy breakouts for short term swings and record weak…

Is the Recession Over?

August 6, 2009

Tim Racette

Market Update

With all the negative headlines like “Job options narrow as recession bites” and “Biggest Recession Blunders” one would believe we are headed for another downturn in the markets. While the summer month’s lower volume trading can distort the longer term outlook, it is often said that by the time the media get’s long, it’s time to go short and vice-versa.

July09: Recap

August 3, 2009

Tim Racette

Monthly Recap

The month of July was quite bullish, however the decline in volume continues as the summer begins to wind down in the coming month. While some of the volume decrease can be attributed to the summer months, it will be crucial to watch what happens when big money steps in again in September. The S&P, Dow, and Russell are all hovering around their 38.2 Fibonacci retracements, with the NASDAQ approaching its 50% retracement level. Tech being a leading indicator, we…

Wk30: Market Recap

August 3, 2009

Tim Racette

Recap

We saw a tug of war at these levels which was confirmed by the breadth, staying inside 3:1 all week long on the close of the day. We put in a spinning top candle pattern on the weekly bar and two inverted hammers on the daily SPY.We have two support levels on the S&P500, the 975 level and 945 levels. If/when a pullback occurs; watch how we act around these levels. If we blow right through them then it will…

Wk31: Market Forecast

August 3, 2009

Tim Racette

Forecast

In the week ahead look for these news announcements to act as potential market movers…· Mon: ISM Manufacturing Index 10:00 AM ET· Tues: Personal Income and Outlays 8:30 AM ET· Tues: Pending Home Sales Index 10:00 AM ET· Weds: ADM Employment Report 8:15 Am ET· Weds: EIA Petroleum Status Report 10:30 AM ET· Thurs: Jobless Claims 8:30 AM ET· Thurs: EIA Natural Gas Report 10:30 AM ET· Fri: Employment Situation 8:30 AM ET The S&P 1000 is our next target,…

Wk31: Stocks to Watch

August 3, 2009

Tim Racette

Watchlist

A strong list of bullish names in last week’s watchlist helped drive the market higher, although at a mixed rate with some stocks holding their gains, others giving them back after breaking out. We continue with a bullish bias and will be looking at these names in the week ahead. AN, AWH, CMG, FIS, MGG, MV, SLAB, STEC, TEF, VECO, BMI & MSCC ended the week lower and GHDX is forming a good entry point here. We are also adding…

Archive