Market Summary: major US and Canada stock market indices continue their rally and some secondary indices such as Nasdaq composite have made new high. Short term wise, this rally should continue and blue chip indices such as S&P 500 looks poised to make new high.
Market Summary: the rally that started on February 5, 2010 turns out to be a larger wave degree. I still believe that further drop is warranted due to the low trading volume in the rally compared to the volume during the drop. However, there has to be a limit where the forecast has to change [...]
Market Summary: the stock market drop has been more relentless than I thought so far. Commodities like gold and silver have also followed suit, while US dollar is going the other way (up) in similar breadth. There is no casualty or even any indication that the economy is turning around yet, except for Toyota’s trouble, [...]
Market Summary: another downturn is unfolding and judging by the almost synchronous movement of all markets, this is likely the end of the bear market rally.
Last week was one of the most volatile week in this bear market. Thursday Nov 13 was especially an interesting day with Dow see-sawing 900 points in a day. Even the Chinese couldn’t just stand down this week seeing its market being battered badly so far. Overall, my stance is still fully bearish for now.
Well, the long awaited US election has finally come to an end. Congratulations to Barack Obama and hopefully this bear market will end in his term(s). US stock market rallied high one day early to the election before dropping almost 1,000 points in Dow Jones Industrial Average (DJIA). It remains to be seen how fast [...]
Last week was overall a positive week for Canadian and US stock markets, which shows in the falling VIX. At this point, I’m going to stick with my 2 of my highest probability counts that either wave 4 (italic red) is still unfolding or wave 5 (italic red) has started in Canadian and US main [...]
The news are getting worse and worse as the minor wave 3 is coming to an end. More and more companies are reporting losses, reduced profit (by a significant amount) and of course the bad news of a lot of us worker bees, lay offs. Price of crude oil is coming down below US$70/barrel and [...]
Huge drop in the stock market, most commodities (yes, crude oil too) and the rest of the world as well. Stock exchange in Russia, Iceland, and Indonesia suspended trading for a few days or a full trading week during the turmoil. With the rapid drop of price and rapid rising of pessimism, it is not [...]
The US bailout plan was finally signed on Friday. It remains to be seen how strong this will boost general public confidence on the financial system, which in turns affect the stock market. The stock market structure is again at another juncture where a short term (maybe swift) rally may happen as early as monday, [...]