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Well, that’s not good. For the past two weeks, we’ve talked about the NASDAQ being in overbought territory according to its Relative Strength score. Our expectations were for the indexes to fall because of elevated, short-term prices. Boom, the NASDAQ...

Last week’s stock market action reminded me of a sunny, spring day in the 1980s. My friends and I skipped school to go to the river on an unusually warm, early April day, high 80s-low 90s. Red Rock is what...

The stock market put on its own fireworks show before July 4th. The tech-dominated index zooming was expected after busting through resistance at 14,200. The thrust higher sent the NASDAQ into an overbought condition. Much like dogs that chase bigger,...

It took three tries, but the NASDAQ finally made its way past 14,200. As we expected, the index moved higher in the immediate aftermath. So far, it’s been textbook. The move north has pushed the NASDAQ to borderline overbought. It’s...

We called it last week, the NASDAQ completed the 1-2-3 pattern and would head north to challenge its 52-week high. That’s where we are now with maybe a little upside left to the target zone. Then, as we noted last...

Papercuts hurt, but the pain doesn’t last long because they usually aren’t deep. We’ve been calling for a dip to complete our anticipated 1-2-3 pattern, which is the path with recent bouts of profit taking. Leg 1 is the first...

Oh, we are getting impatient. Wall Street is stuck in neutral and doesn’t appear to be in a hurry to make up its mind, bearish or bullish. The NASDAQ seems to have a hard lid on the top at 14,200...

Time to get excited right? Inflation fears are overblown because China is going to crackdown on commodities was the theme to start the week. Wall Street responded with a big up Monday. We hate to be Donnie downers but… last...