06/01/2012

The market opened lower and then trickled down further through the rest of the trading day. The employment report was the named culprit.

05/31/2012

We saw more pushing and pulling of price today as the market opened lower, recovered to the positive side, but fell again to close down during the last 20 minutes of trading.

05/30/2012

Europe was down well over 1.5% on the open so our markets opened way down as well.  The rest of the day was spent digesting the price drop.

05/29/2012

The market opened higher and then fell apparently amid concerns about Spain this time. Prices did recuperate midday so stocks closed near the high for the day.

05/25/2012

Not much of a day, we saw low volume and trading right above or below the zero change line.

A reminder: The U.S. markets will be closed Monday for Memorial Day.

05/24/2012

The market opened up but then proceeded to chop down. Similar to last two days, the final hour brought price back up to positive territory.

05/23/2012

European markets were down over 2.5% when our markets opened so price was dragged down immediately.  However, stocks managed to claw their way back up to close positive but mostly unchanged. The Dow and NYSE were still negative on the close but were still mostly unchanged.

05/22/2012

We saw a slight break below the ultra-short-term rising trend on the 10-minute bar chart followed by some consolidation and a drop lower.  However the last 10 minutes brought price back up into positive territory.

05/21/2012

The market managed to find support at last, bouncing up quickly at the open and then continuing to rise more slowly through the end of the day, as some of the shorts were slowly squeezed out.

05/18/2012

CHART SPOTLIGHT - Correction Low May Be Weeks Away - by Carl Swenlin:

The current correction is creating very oversold conditions on intermediate-term indicators, like the ITBM (breadth) and ITVM (volume). While oversold indicators often signal final price lows for a correction, extremely oversold readings are a sign that the price low for the correction probably won't arrive until weeks after the extreme indicator lows.