Posts Tagged ‘stock market’
Downtrend – March 5, 2020
It is now all about the coronavirus. The market topped out for now on February 19th with the Nasdaq coming very close to the 10,000 mark. It has since gone through its fastest 10% drop off a top in history. Correcting by 12.9% top to bottom in only seven days. It found support at the 200 dma line last Friday, and have since traded in choppy fashion between the 200 and 50 line. With yesterday’s down day the market moved into a new downtrend.
Downtrend – February 9, 2018
We have been in a continuous uptrend since March 1, 2016 (with the exception of a few days in June 2016). This is unprecedented and speaks volumes about this bull market and how strong it has been over the last two years.
We did, however, get a shift in direction yesterday as the market went into a downtrend.
Downtrend – March 27, 2014
The markets entered a new downtrend yesterday.
Downtrend – January 30, 2014
After an extraordinary long uptrend, lasting 105 days, we entered a new downtrend yesterday. The Fed tapered its bond buying with another $10bn to $65bn. The market has been very strong for several months and the correction we have experienced over the last few days has been expected. The S&P 500 has corrected only 4%, but it has closed below its 50DMA over its last four sessions. It has closed below this average three more times during the past 12 months, and gone above it fairly quickly again afterwards. But that does not mean that it will happen again. There have been more days of heavy selling now than during those earlier cited instances.
Uptrend – October 17, 2013
The model switched to an uptrend yesterday.
Downtrend – October 9, 2013
The market corrected on huge volume yesterday and pushed with that the market into a new downtrend. The previous uptrend had by now lasted one month.
Uptrend – September 10, 2013
The market went into a new uptrend yesterday when the Nasdaq pushed to a new high.
Downtrend – August 21, 2013
The stock market went into a new downtrend yesterday.
Uptrend – July 12, 2013
The markets went into a new uptrend yesterday with a strong day in all indexes.
Downtrend – June 21, 2013
With both the S&P 500 and the Nasdaq experiencing major down days yesterday the market went into a new downtrend. As I warned in the blog post of June 14th there was a chance that the previous uptrend would not follow through. The market action in the previous two days certainly proved this to be true.