The daily chart of the NASDAQ Composite Index looks constructive as it successfully tested its 50-dma on an intraday shakeout yesterday and then moved higher today. But underneath the surface of this market, there has been a great deal of carnage in formerly leading groups. Meanwhile, financials and semiconductors, for the most part, keep the indexes buoyant as the market displays... Read More

News again kept the rally going on Thursday when it was reported that the U.S. and China would make yet another attempt at trade talks in the month of October. No mention was made of rescinding the current tariffs that are in effect, nor was there any mention of any major agreement or concessions ahead of these talks. But it was enough to send the NASDAQ Composite, S&P... Read More

News out of Hong Kong overnight and a 4% rally in the Hang Seng Index had the U.S. futures champing at the bit this morning. While the morning rally embellished the open with a nice shade of green on my quote screen, it was difficult to go with the idea that the situation in Hong Kong was the be-all-end-all influence on the current market environment. But when news algos are afoot, and they... Read More

A Dow bounce off the 200-dma on Wednesday set the stage for a market rally, and all the major market indexes careened back up toward their 50-day moving averages and the highs of their current price ranges. The NASDAQ Composite Index gapped up Friday morning and fell just shy of its 50-dma before reversing to close near the lows of the day on lighter volume.   ... Read More