InTheMoneyStocks Market Analysis
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Dentalfloss
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Re: Market Alert: Bank Stocks May Have Bottomed
gareth. i think you should explain what chart signals you have used to deduce that this sector has bottomed out.you dont have to tell us the exact signals,but we dont want members putting on trades just on a nod and a wink
thanks
sorry to be pedantic.i do admire and respect youre knowledge and wisdom,and do appreciate that you dont want to give too many secrets away to non subscribers
many thanks in anticipation
gareth. i think you should explain what chart signals you have used to deduce that this sector has bottomed out.you dont have to tell us the exact signals,but we dont want members putting on trades just on a nod and a wink
thanks
sorry to be pedantic.i do admire and respect youre knowledge and wisdom,and do appreciate that you dont want to give too many secrets away to non subscribers
many thanks in anticipation
InTheMoneyStocks
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Too Big To Fail Leads The Markets Lower
The large major banks are leading the major stock market indexes lower for a fourth consecutive trading session. It is important to remember that the four largest banks and many of the leading brokerage firms have been under pressure since the start of May 2011. These stocks are all short term oversold on the daily charts at this time, therefore, it is possible to see small bounces in these stocks in the near term.
J.P. Morgan Chase & Co.(NYSE:JPM) is the strongest financial stock out of the 'too big to fail' institutions. This stock is trading lower this afternoon by $1.05 to $40.52 a share. When this leading stock fails to catch a bid higher it is usually a good sign that the entire sector is struggling and likely trading lower. JPM stock will have some intra-day support around the $40.35 and $40.00 area level.
Goldman Sachs Group Inc.(NYSE:GS) remains in a daily chart down trend. The stock is trading below its daily chart 50, and 200 moving averages which put this leading financial institution in a weak technical position. The stock will have some short term intra-day support around the $132.00, and $131.00 levels.
Well Fargo & Co.(NYSE:GS) is one of the leading bank stocks in the stock market. Today, the stock was downgraded by Rochdale Securities with a $22.00 price target. WFC stock is trading lower by 0.59 cents to $26.28 a share. WFC will have intra-day support around the $26.00 level. This is another leading bank stock that is trading in a confirmed daily chart down trend at this time.
Other leading 'too big to fail' financial stocks that are trading lower this afternoon include Bank of America Corp.(NYSE:BAC), Citigroup Inc.(NYSE:C), Morgan Stanley(NYSE:MS), and American International Group Inc.(NYSE:AIG). At this time, the large 'too big to fail' institutions are leading the stock markets lower.
Nicholas Santiago
InTheMoneyStocks
The large major banks are leading the major stock market indexes lower for a fourth consecutive trading session. It is important to remember that the four largest banks and many of the leading brokerage firms have been under pressure since the start of May 2011. These stocks are all short term oversold on the daily charts at this time, therefore, it is possible to see small bounces in these stocks in the near term.
J.P. Morgan Chase & Co.(NYSE:JPM) is the strongest financial stock out of the 'too big to fail' institutions. This stock is trading lower this afternoon by $1.05 to $40.52 a share. When this leading stock fails to catch a bid higher it is usually a good sign that the entire sector is struggling and likely trading lower. JPM stock will have some intra-day support around the $40.35 and $40.00 area level.
Goldman Sachs Group Inc.(NYSE:GS) remains in a daily chart down trend. The stock is trading below its daily chart 50, and 200 moving averages which put this leading financial institution in a weak technical position. The stock will have some short term intra-day support around the $132.00, and $131.00 levels.
Well Fargo & Co.(NYSE:GS) is one of the leading bank stocks in the stock market. Today, the stock was downgraded by Rochdale Securities with a $22.00 price target. WFC stock is trading lower by 0.59 cents to $26.28 a share. WFC will have intra-day support around the $26.00 level. This is another leading bank stock that is trading in a confirmed daily chart down trend at this time.
Other leading 'too big to fail' financial stocks that are trading lower this afternoon include Bank of America Corp.(NYSE:BAC), Citigroup Inc.(NYSE:C), Morgan Stanley(NYSE:MS), and American International Group Inc.(NYSE:AIG). At this time, the large 'too big to fail' institutions are leading the stock markets lower.
Nicholas Santiago
InTheMoneyStocks
InTheMoneyStocks
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Did You Buy: Financial Stocks Rally Sharply
Banks are leading the market for the first time in weeks. News break, the market is rallying solidly for the first time in what seems to be weeks. This is no coincidence and most likely a key to further upside in the market. Goldman Sachs Group, Inc. (NYSE:GS) is jumping +2.99 to $134.58 (+2.27%) while Wells Fargo & Company (NYSE:WFC) is trading at $26.07, +0.71 (+2.80%) and Morgan Stanley (NYSE:MS) is at $22.55, +0.62 (+2.83%).
These are significant gains for the financial stocks which have been under continued pressure all year. Many banks are down close to 30% from their 2011 highs. Just recently, bank stocks have had an overload of bearish sentiment from analysts and the media. In addition, they have all hit major multi year pivot support lows. The fact that these all are coinciding leaves this pro trader to assume a bounce was coming. The bounce is here. It should last for almost a week, maybe longer on the financial plays.
Gareth Soloway
InTheMoneyStocks
Banks are leading the market for the first time in weeks. News break, the market is rallying solidly for the first time in what seems to be weeks. This is no coincidence and most likely a key to further upside in the market. Goldman Sachs Group, Inc. (NYSE:GS) is jumping +2.99 to $134.58 (+2.27%) while Wells Fargo & Company (NYSE:WFC) is trading at $26.07, +0.71 (+2.80%) and Morgan Stanley (NYSE:MS) is at $22.55, +0.62 (+2.83%).
These are significant gains for the financial stocks which have been under continued pressure all year. Many banks are down close to 30% from their 2011 highs. Just recently, bank stocks have had an overload of bearish sentiment from analysts and the media. In addition, they have all hit major multi year pivot support lows. The fact that these all are coinciding leaves this pro trader to assume a bounce was coming. The bounce is here. It should last for almost a week, maybe longer on the financial plays.
Gareth Soloway
InTheMoneyStocks
BeginnerJoe
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Re: Did You Buy: Financial Stocks Rally Sharply
I say balls to financial stocks. Just my personal opinion 🙂.
I say balls to financial stocks. Just my personal opinion 🙂.
InTheMoneyStocks
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Gold And Silver Fail To Rally On Dollar Pullback
This afternoon, both gold and silver are trading lower despite the intra-day sell off in the U.S. Dollar Index futures(DX U1). Usually, gold and silver will surge higher when the U.S. Dollar Index pulls back or decline lower. Today, the precious metals are not reacting to the intra-day decline in the U.S. Dollar Index and this is a change in character for the precious metals.
The SPDR Gold Shares(NYSE:GLD) are trading lower by $1.69 to $147.57 a share. Short term traders can look for intra-day support around the $147.47, and $146.50 levels. The GLD has remained very weak this afternoon and this tells us that all support levels are minor.
The iShares Silver Trust(NYSE:SLV) is trading lower by $1.42 to $33.83 a share. Short term traders can watch for intra-day support around the $33.50 and $33.00 levels. The SLV will trade very similar to the GLD, therefore, all bounces are short term.
Nicholas Santiago
InTheMoneyStocks
This afternoon, both gold and silver are trading lower despite the intra-day sell off in the U.S. Dollar Index futures(DX U1). Usually, gold and silver will surge higher when the U.S. Dollar Index pulls back or decline lower. Today, the precious metals are not reacting to the intra-day decline in the U.S. Dollar Index and this is a change in character for the precious metals.
The SPDR Gold Shares(NYSE:GLD) are trading lower by $1.69 to $147.57 a share. Short term traders can look for intra-day support around the $147.47, and $146.50 levels. The GLD has remained very weak this afternoon and this tells us that all support levels are minor.
The iShares Silver Trust(NYSE:SLV) is trading lower by $1.42 to $33.83 a share. Short term traders can watch for intra-day support around the $33.50 and $33.00 levels. The SLV will trade very similar to the GLD, therefore, all bounces are short term.
Nicholas Santiago
InTheMoneyStocks
InTheMoneyStocks
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Stock Markets Collapse As Dollar Soars
Greece continues to drag the Euro down. Almost every night there seems to be another dramatic issue bubbling up from the most troubled European country. The CurrencyShares Euro Trust (NYSE:FXE) is getting pounded on the back of these worries, trading at $142.23, -1.69 (-1.17%). As the Euro falls, the Dollar soars. As the Dollar soars, the markets collapse lower. Note how the Dollar bottomed in early May. This was the same time the stock market topped.
While Greece continues to bring down the global markets, it is important to realize that this situation will ultimately end in default. Greece is a patient on life support at this point with no options but to pull the plug. However, just like anything in life, it is not that easy. Right now the European Union is struggling to buy Greece time. Not because they have any chance of not defaulting, but more so because of the contagion fear. The longer they can prolong Greece's default, the more likely Portugal, Spain and Ireland can avoid the same fate. Should Greece default tomorrow, many of the other countries in the EU would follow within weeks. Think Lehman, Bear Sterns a couple years ago.
After an early morning attempt at recovery, the markets are hitting new lows of the day. The SPDR S&P 500 ETF (NYSE:SPY) is now trading at $127.70, -1.63 (-1.26%). This massive late morning dump is a pure result of the Dollar surging higher. The PowerShares DB US Dollar Index Bullish (NYSE:UUP) is trading at $21.52, +0.26 (+1.25%).
The markets are getting slammed from all angles, commodity stocks, technology stocks, transports and banks. The SPY which is the tracking ETF for the S&P 500 just hit its gap fill level from Monday, at $127.70. This should be a short term support level intra day. If that fails to hold, the SPY will trade to its low from last Friday at $127.00.
Gareth Soloway
InTheMoneyStocks
Greece continues to drag the Euro down. Almost every night there seems to be another dramatic issue bubbling up from the most troubled European country. The CurrencyShares Euro Trust (NYSE:FXE) is getting pounded on the back of these worries, trading at $142.23, -1.69 (-1.17%). As the Euro falls, the Dollar soars. As the Dollar soars, the markets collapse lower. Note how the Dollar bottomed in early May. This was the same time the stock market topped.
While Greece continues to bring down the global markets, it is important to realize that this situation will ultimately end in default. Greece is a patient on life support at this point with no options but to pull the plug. However, just like anything in life, it is not that easy. Right now the European Union is struggling to buy Greece time. Not because they have any chance of not defaulting, but more so because of the contagion fear. The longer they can prolong Greece's default, the more likely Portugal, Spain and Ireland can avoid the same fate. Should Greece default tomorrow, many of the other countries in the EU would follow within weeks. Think Lehman, Bear Sterns a couple years ago.
After an early morning attempt at recovery, the markets are hitting new lows of the day. The SPDR S&P 500 ETF (NYSE:SPY) is now trading at $127.70, -1.63 (-1.26%). This massive late morning dump is a pure result of the Dollar surging higher. The PowerShares DB US Dollar Index Bullish (NYSE:UUP) is trading at $21.52, +0.26 (+1.25%).
The markets are getting slammed from all angles, commodity stocks, technology stocks, transports and banks. The SPY which is the tracking ETF for the S&P 500 just hit its gap fill level from Monday, at $127.70. This should be a short term support level intra day. If that fails to hold, the SPY will trade to its low from last Friday at $127.00.
Gareth Soloway
InTheMoneyStocks
InTheMoneyStocks
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Alert: Stock Market Awaits Federal Reserve
The markets are holding on the flat line as they await the Federal Reserve FOMC policy statement and the press conference that will follow later today. The SPDR S&P 500 ETF (NYSE:SPY) is trading at $129.66, +0.21 (+0.16%). After a monster rally yesterday, the markets are waiting to hear if there will be some sort of QE3 or in the very least some QE2.5. With the economic data of late and the massive problems inside of Europe, the Federal Reserve may be poised to bring some sort of secondary easing plan. This plan will most likely come later this year or early in 2012 though. Be ready for the next swing trade alert on the Federal Reserve's action.
Financial stocks are leading the charge today. They were initially weak yesterday following downgrades on Monday, but bounced nicely by the end of the day. Today the banks are the leading sector in the market. Goldman Sachs Group, Inc. (NYSE:GS) is trading higher at $136.82, +0.86 (+0.63%).
Chinese stocks again seem to be the the best performers. These stocks have been hammered due to fraud allegations, short sellers and accounting issues. Many have lost over 75% of their value. Even dead cats bounce though, and stocks like China New Borun Corp (NYSE:BORN), Sino Clean Energy Inc. (NASDAQ:SCEI) and A-Power Energy Generation Systems, Ltd. (NASDAQ:APWR) have all rocketed off their recent lows. Until there is more transparency, the smaller Chinese stocks should be utilized and short term trading vehicles, nothing more. Which is the next China stock to pop or drop?
Gareth Soloway
InTheMoneyStocks
The markets are holding on the flat line as they await the Federal Reserve FOMC policy statement and the press conference that will follow later today. The SPDR S&P 500 ETF (NYSE:SPY) is trading at $129.66, +0.21 (+0.16%). After a monster rally yesterday, the markets are waiting to hear if there will be some sort of QE3 or in the very least some QE2.5. With the economic data of late and the massive problems inside of Europe, the Federal Reserve may be poised to bring some sort of secondary easing plan. This plan will most likely come later this year or early in 2012 though. Be ready for the next swing trade alert on the Federal Reserve's action.
Financial stocks are leading the charge today. They were initially weak yesterday following downgrades on Monday, but bounced nicely by the end of the day. Today the banks are the leading sector in the market. Goldman Sachs Group, Inc. (NYSE:GS) is trading higher at $136.82, +0.86 (+0.63%).
Chinese stocks again seem to be the the best performers. These stocks have been hammered due to fraud allegations, short sellers and accounting issues. Many have lost over 75% of their value. Even dead cats bounce though, and stocks like China New Borun Corp (NYSE:BORN), Sino Clean Energy Inc. (NASDAQ:SCEI) and A-Power Energy Generation Systems, Ltd. (NASDAQ:APWR) have all rocketed off their recent lows. Until there is more transparency, the smaller Chinese stocks should be utilized and short term trading vehicles, nothing more. Which is the next China stock to pop or drop?
Gareth Soloway
InTheMoneyStocks
InTheMoneyStocks
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Alert: Stock Market May Fade Ahead Of Greek Vote
The markets have floated higher today on the back of a slowly weakening U.S. Dollar. The SPDR S&P 500 ETF (NYSE:SPY) is trading at $129.06, +1.12 (+0.88%). The markets have just put in an intra day topping tail. A topping tail is a bearish signal as it usually signals a reversal. In addition tomorrow at 5am ET, Greece will be voting on the austerity package. As of now, it is said that they have 151 votes for the motion. They need 150 to pass it. The markets may get a little nervous later today into the close and profits may be taken off this two day rally.
Stocks are mostly higher today with the exception of the banks. JPMorgan Chase & Co. (NYSE:JPM) is leading the downside, trading at $39.38, -0.50 (-1.25%). Other banks are also weaker. The markets are gaining momentum from the likes of International Business Machines Corp. (NYSE:IBM) and commodities stocks like Exxon Mobil Corporation (NYSE:XOM).
Gareth Soloway
InTheMoneyStocks
The markets have floated higher today on the back of a slowly weakening U.S. Dollar. The SPDR S&P 500 ETF (NYSE:SPY) is trading at $129.06, +1.12 (+0.88%). The markets have just put in an intra day topping tail. A topping tail is a bearish signal as it usually signals a reversal. In addition tomorrow at 5am ET, Greece will be voting on the austerity package. As of now, it is said that they have 151 votes for the motion. They need 150 to pass it. The markets may get a little nervous later today into the close and profits may be taken off this two day rally.
Stocks are mostly higher today with the exception of the banks. JPMorgan Chase & Co. (NYSE:JPM) is leading the downside, trading at $39.38, -0.50 (-1.25%). Other banks are also weaker. The markets are gaining momentum from the likes of International Business Machines Corp. (NYSE:IBM) and commodities stocks like Exxon Mobil Corporation (NYSE:XOM).
Gareth Soloway
InTheMoneyStocks
InTheMoneyStocks
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Stock Market Alert: Head And Shoulder Pattern
The SPDR S&P 500 ETF (NYSE:SPY) which mirrors the S&P 500 has a classic head and shoulder pattern developing. A head and shoulder pattern is a bearish pattern. The neck line of the head and shoulder pattern must be broken to see this pattern play out. Note the neck line below in pink. If the market trades below, the SPY could easily fall to a $130.25 target in the coming days. Remember, it is only valid IF it breaks the neck line. That has not happened yet.
The markets continue to be under pressure after Ben Bernanke said it was unlikely to see a QE3. This goes in the opposite direction of what he said yesterday. As the markets whip up and down, a classic options expiration is playing out. Commodities have been going nuts today, with gold hitting a new all time high only to fall back down. The SPDR Gold Trust (NYSE:GLD) hit $155.24 before falling over a $1.00 off its highs. Silver continues to higher on the day but well off its high of the day. The iShares Silver Trust (NYSE:SLV) is trading at $37.73, +0.50 (+1.34%). Oil is falling sharply today on demand worries. A lack of QE3 could mean a slower recovery. In addition, Europe continues to be a horrible mess. The United States Oil Fund LP (NYSE:USO) is trading at $37.69, -0.66 (-1.72%).
Gareth Soloway
InTheMoneyStocks
The SPDR S&P 500 ETF (NYSE:SPY) which mirrors the S&P 500 has a classic head and shoulder pattern developing. A head and shoulder pattern is a bearish pattern. The neck line of the head and shoulder pattern must be broken to see this pattern play out. Note the neck line below in pink. If the market trades below, the SPY could easily fall to a $130.25 target in the coming days. Remember, it is only valid IF it breaks the neck line. That has not happened yet.
The markets continue to be under pressure after Ben Bernanke said it was unlikely to see a QE3. This goes in the opposite direction of what he said yesterday. As the markets whip up and down, a classic options expiration is playing out. Commodities have been going nuts today, with gold hitting a new all time high only to fall back down. The SPDR Gold Trust (NYSE:GLD) hit $155.24 before falling over a $1.00 off its highs. Silver continues to higher on the day but well off its high of the day. The iShares Silver Trust (NYSE:SLV) is trading at $37.73, +0.50 (+1.34%). Oil is falling sharply today on demand worries. A lack of QE3 could mean a slower recovery. In addition, Europe continues to be a horrible mess. The United States Oil Fund LP (NYSE:USO) is trading at $37.69, -0.66 (-1.72%).
Gareth Soloway
InTheMoneyStocks
Pazienza
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Re: Stock Market Alert: Head And Shoulder Pattern
You perma-bears have been flogging this same dead horse for over two years now. When are you going to wake up and realise this is a bull market and you've missed a rise over over 100%?
No QE3? You're joking aren't you? Who cares what Teh Bernank says? Watch what they do, and treat what they say with the contempt it deserves.
You perma-bears have been flogging this same dead horse for over two years now. When are you going to wake up and realise this is a bull market and you've missed a rise over over 100%?
No QE3? You're joking aren't you? Who cares what Teh Bernank says? Watch what they do, and treat what they say with the contempt it deserves.
rawrschach
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Re: Stock Market Alert: Head And Shoulder Pattern
on a 10 minute chart? really?
on a 10 minute chart? really?
Pazienza
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Re: Stock Market Alert: Head And Shoulder Pattern
15 minute. That's how I roll.
1305, good area.
15 minute. That's how I roll.
1305, good area.
InTheMoneyStocks
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Re: Stock Market Alert: Head And Shoulder Pattern
Hey Panzi,
You have obviously never been a member. We read your post and could not help but laugh with each other. Thank you for the comical relief.
Bottom line is this. Our Pros are neither bull nor bear. When this market was at the 200ma just three weeks ago, we had longs out there. That level was called by our Chief Market Strategists as the biggest support level in years. Of course we profited. As the QQQ hit a double top and the SPY came into resistance late last week, we shorted. Latest shorts were QQQ, MMM, GOOG. They were covered today.$$$$. We have an up cycle coming shortly which will be an opportunity to go long again.
Your long term bear perception is about as flimsy as your "I Wanna Be A Pro, Whaahhhh" mentality. why don't you go to the Hot Charts and Alerts archive, which is free for pikers like yourself who cannot afford our service at $49.99/month and actually look. Oh, right, that would take too much work. LOLLL.
Next time please come to us with some actual quality criticism so we do not feel like we are wasting our time and our lives.
For all others out there. Do your own Due Diligence. For serious investors that are neither bull nor bear and just want to make money on the wild swings in the market, recognize the best.
😉
ITMS Support
Hey Panzi,
You have obviously never been a member. We read your post and could not help but laugh with each other. Thank you for the comical relief.
Bottom line is this. Our Pros are neither bull nor bear. When this market was at the 200ma just three weeks ago, we had longs out there. That level was called by our Chief Market Strategists as the biggest support level in years. Of course we profited. As the QQQ hit a double top and the SPY came into resistance late last week, we shorted. Latest shorts were QQQ, MMM, GOOG. They were covered today.$$$$. We have an up cycle coming shortly which will be an opportunity to go long again.
Your long term bear perception is about as flimsy as your "I Wanna Be A Pro, Whaahhhh" mentality. why don't you go to the Hot Charts and Alerts archive, which is free for pikers like yourself who cannot afford our service at $49.99/month and actually look. Oh, right, that would take too much work. LOLLL.
Next time please come to us with some actual quality criticism so we do not feel like we are wasting our time and our lives.
For all others out there. Do your own Due Diligence. For serious investors that are neither bull nor bear and just want to make money on the wild swings in the market, recognize the best.
😉
ITMS Support
Pazienza
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Re: Stock Market Alert: Head And Shoulder Pattern
My, my a little touchy, are we not? 😆
I seem to recall you banging the bear drum a little over-enthusiastically, backed up with some particularly asinine commentary, although I really cannot be bothered to look back over the archives. If I am wrong, my humble etc etc.
My opinion of tip sheets and "educators" 🙂lol🙂, you can probably imagine. You can probably imagine the reasons why as well, although we needn't go into that, I have no particular desire to embarrass you. I wonder why you would be selling rather than trading, but let it pass.
If you feel that you are wasting your time and your lives, I feel sorry for you, but surely it is not my responsibility to provide meaning? I understand why you feel like you do; my advice to you would be to get a real job, or alternatively you could learn to trade, if that is still possible.
You did get one thing right, I have indeed never been a member. And for that small mercy I am truly thankful.
My, my a little touchy, are we not? 😆
I seem to recall you banging the bear drum a little over-enthusiastically, backed up with some particularly asinine commentary, although I really cannot be bothered to look back over the archives. If I am wrong, my humble etc etc.
My opinion of tip sheets and "educators" 🙂lol🙂, you can probably imagine. You can probably imagine the reasons why as well, although we needn't go into that, I have no particular desire to embarrass you. I wonder why you would be selling rather than trading, but let it pass.
If you feel that you are wasting your time and your lives, I feel sorry for you, but surely it is not my responsibility to provide meaning? I understand why you feel like you do; my advice to you would be to get a real job, or alternatively you could learn to trade, if that is still possible.
You did get one thing right, I have indeed never been a member. And for that small mercy I am truly thankful.
Re: Stock Market Alert: Head And Shoulder Pattern
This 200ma thingy that the Chief called sounds really original and sophisticated.
Without giving too much away, can you give me an inkling of what it is please?
Much appreciated,
J
This 200ma thingy that the Chief called sounds really original and sophisticated.
Without giving too much away, can you give me an inkling of what it is please?
Much appreciated,
J
