Well, summer is about to end, even though there is plenty of heat all around the world. We've had about 6 weeks of rally, and it looks like stocks are coming back down. On Monday, SPX fell more than 90 points (-2.14%), Nasdaq dropped 323.64 points (-2.55%), and the DOW slid 643.13 points (-1.91%). Semiconductors and financials were really weak, with SMH falling -3.49% and FAS tumbling -6.65%. Here's were the SPX ended up:

SPX

SPX now has a resistance at around 4300. There are a couple of support levels below this, but, I think near-term we can look for SPX to test the 50-day MA, which is around 3970 right now.

On Wednesday this week, we get earnings from NVDA, SNOW, CRM, and SPLK, which could help shake the markets again. The recent rally in solar stocks took a breather with the rest of the market. Overall, energy stocks held on pretty well, and we could see buyers eyeing energy stocks again. However, with people locking in profits over the past month, I think stocks have limited upside from here.

Down-Side Trades
Last checked, market future were all lower. I'm looking at CAT, GS, and TSLA for downside trades. TGT rallied last week, even though its earnings were good at all; it could come back down to below $150 again, soon. VMC and MLM, DG, DLTR, and COST have all been really strong. In a bearish environment, we will likely see people lock in their fat profits.

Up-Side Trades
China trims lending rates over the weekend, prompting some buyers to take a gamble on badly beaten Chinese ADRs. We see JD and XPEV earnings report on Tuesday morning. Let's see if buyers can really find a bottom in ...

The past few days have been volatile, but, stocks look ready for a bounce. Since the last CPI report, even energy stocks have fallen, pretty sharply in fact.

XLE

Stocks such as EOG, XOM, CVX have tumbled down ...

Last Tuesday, I wrote an article, wondering if a short-term bottom was in. Sure enough, after that article was published, the market took another dip. However, buyers quickly came back in. The past few days have been volatile, but, ...

Consumer stocks were under tremendous selling pressure today, as TGT reported dismal earnings. TGT sank over 25%. A week ago, I wrote an article, saying that "[d]iscount stores such as DG and DLTR [we]re starting to see some ...

The market opened again on Thursday in a volatile manner. Stocks opened lower and bounced vehemently after the first 30 minutes. We quickly got out of GME puts that we entered yesterday for an overnight profit of +34.45%.

As things ...

The market opened again on Thursday in a volatile manner. Stocks opened lower and bounced vehemently after the first 30 minutes. We quickly got out of GME puts that we entered yesterday for an overnight profit of +34.45%.

As things ...

Yesterday, I said that there is "(much) more downside to come!" I also mentioned that for a decade, people have been "buying the dip", but, now, you might need to "sell the pop".

Wednesday started with buyers trying ...

Yesterday, I said that there is "(much) more downside to come!" I also mentioned that for a decade, people have been "buying the dip", but, now, you might need to "sell the pop".

Wednesday started with buyers trying ...

On April 18, 2022, I wrote an article, titled "The Path Of Least Resistance - Are The Markets Ready For A Bigger Correction?" In this article, I explained how both the fundamentals and technicals were working against stocks, ...

On April 18, 2022, I wrote an article, titled "The Path Of Least Resistance - Are The Markets Ready For A Bigger Correction?" In this article, I explained how both the fundamentals and technicals were working against stocks, ...

It's been over 2 years since the COVID-19 Pandemic started. The vaccines stocks such as MRNA and BNTX had soared 5-fold before peaking in September of 2021. These stocks have come down almost 70% from their peaks in just a ...

It's been a long while since silver is attracting attention from average buyers. Most people turn to buying gold whenever there are major geopolitical uncertainties. With the COVID-19 pandemic running rampant, especially during the recent months in the US, Brazil, ...