Market Insights
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Options Alert: Call Volume Surges in Wells Fargo
Wells Fargo is flirting with new highs, and options traders are getting active. Heavy volume was detected yesterday in the bank's September 97.50 calls. The initial blocks priced for $1.44, followed by larger blocks at $1.65. Volume of 27,990 contracts was more than...
Can Stocks Keep Running With Another Big Inflation Report This Week?
Stocks fell last week as traders sold recent gainers in the technology space. They now face a potentially big test with key inflation data due tomorrow morning. The S&P 500 retreated 1.1 percent between Friday, February 3, and Friday, February 10. It was the first...
Chart of the Day: Potentially Bearish Candlestick Pattern in Amazon.com
Amazon.com tried to rally a week ago. It proceeded to fall on weak quarterly results, leaving some potentially difficult patterns on the daily chart . First, the single candlestick on February 2 was isolated above the other recent prices. That is sometimes known as a...
Stocks Overbought as Traders Wait for Inflation? Market Trends This Week
Downloads available here and here. Sizing Up the S&P 500 S&P 500 is challenging mid-September high and March lows around 4120.10-day moving average rising for 23 candles, the longest streak since August.Fewer index members above 20-day MA than above 50-day MA....
It’s a Quiet Week for Stocks After Mixed Earnings from Apple and Amazon.com
It's a quieter week for stocks after mixed earnings from major technology companies and big economic news. The S&P 500 rose 1.6 percent between Friday, January 27, and Friday, February 3. It was the fourth gain in the last five weeks, bringing the index back to...
Technical Analysis: Does the Nasdaq Need a Pause?
The Nasdaq-100 has been running as investors flock back to growth stocks. But is it time for a pause? The index has gained each of the five weeks so far this year -- its longest winning streak since November 2021. Speaking of November 2021, the Relative Strength Index...
Apple, Trendline Break and ‘Golden Cross?’ Market Trends This Week
Sizing Up the S&P 500 50-day MA nearing "Golden Cross" vs 200-day MA2022 bearish trendline brokenBreadth: Advance/decline line highest since AugustSector mix: "risk-on" cyclicals leading, safe-havens lagging.Intermarket: Dollar index lowest since AprilIntermarket:...
Technology & Communication
Chart of the Day: Netflix Consolidates After Earnings Surge
Netflix jumped earlier this month after announcing results. It's now consolidating, and some traders may see potential for more upside. The first pattern on today's chart is the bullish gap on October 19 following the quarterly report. Prices cleared a peak of $394.90...
Big Banks Announce Strong Results as Earnings Season Begins
Earnings season is off to another strong start, thanks to big banks and financials. JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C) and Morgan Stanley (MS) all reported strong quarters. A combination of banking, trading and investment management drove the...
This Social Media Upstart Just Got a Lot of Attention in the Options Market
Suddenly the bulls are logging into Pinterest. The social-media upstart had record call volume yesterday as options traders positioned for a potential move higher. The activity came after a report showed growing user traffic. PINS' user base rose 9 percent to 82.4...
From Bear to Bull in a Few Months: Charting Tesla’s Stunning U-Turn
Never argue with price action. Look no further than Tesla for an example of why traders love technical analysis. If you haven't noticed, Elon Musk's electric-car disrupter made a dramatic U-turn last year. It's more than doubled since the summer, punishing short...
Stocks Begin the New Decade With Technology Still Leading the Rally
Stocks began the new decade on a strong note as investors stuck with technology despite saber-rattling in the Middle East. The S&P 500 rose 0.9 percent between Friday, January 3, and Friday, January 10. It was the first full week of 2020 and the 12th positive week...