The market opened lower and showed no sign of recovery after China reported nearly 2,000 new cases of the Wuhan coronavirus were diagnosed over the weekend. Overseas markets in Asia were mostly closed for various holidays and led to some of the nervousness and gap lower.The major indexes came close to losing their gains for the year, and month, with the blue-chips briefly falling below its...
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The market extended their winning streak to 4-straight after notching fresh record highs on Thursday. China's announcement that it is cutting tariffs by 50% on $75 billion in U.S. goods helped sentiment along with better-than-expected earnings from a number of high profile companies.The Nasdaq traded to another all-time high of 9,575 while closing at 9,572. Fresh resistance at the 9,575 level was...
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The market opened lower and showed no sign of recovery after China reported nearly 2,000 new cases of the Wuhan coronavirus were diagnosed over the weekend. Overseas markets in Asia were mostly closed for various holidays and led to some of the nervousness and gap lower.The major indexes came close to losing their gains for the year, and month, with the blue-chips briefly falling below its...
Continue reading >>Just weeks ago, we featured General Electric (GE) in a Chart of the Day following allegations of fraud back in August 2019. Since then, we’ve watched as the stock caught strong support around $8 along with oversold reads on the Bollinger Bands (2.20), W%R, RSI, and MACD. Since spotting that opportunity in August 2019, the stock exploded from a low of $8 to a high of $11.72. All we had to...
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