Market Review

My Take On the Stock Market

Market Review – Week Ending 07/31/09

Not much new to say this week. We completed the power buy trade I mentioned a here and got our target of new highs.

Market Review – Week Ending 07/24/09

Two weeks in my weekly stock market review I mentioned that I was looking for a push up out of an ABC down formation(also known as a complex correction or Power Buy). Well, we got our push and it was quite a ride. Last week, the S&P500 jumped over +4%. That’s on top of the move last week of +7%.
It was a nice push up out of the ABC resulting in new highs which is the profit target for this type of formation. I sent out tweet during the week mentioning that the formation achieved it’s objective. If you are not following me on Twitter you can do so here.

Market Review – Week Ending 07/17/09

Last week in my weekly stock market review I mentioned that I was looking for a push up out of an ABC down formation(also known as a complex correction).

Well, we certainly got that push. Last week, the S&P500 spiked up almost 7%. That’s a lot for one week and we are now very overbought.