In the last two weeks, we have gone from a bearish head and shoulders breakdown to a new relative high. The market has rallied almost 10% in that time and the momentum is very strong. Rising interest rates put the brakes on June’s rally and investors were concerned that the continuous supply of new bonds

Last week, the market dropped below major support when the Unemployment Report was much worse than expected. Job losses were 100,000 more than analysts had expected and bulls finally threw in the towel. Since March, they have denounced the Unemployment Report claiming that it is a lagging piece of information. Month-after-month, the news continued to

Last week the market staged a nice rally and it briefly poked above the 100-day moving average–remarkably finding the silver lining in every dismal economic report. The Fed, Treasury, FASB and SEC have all been busy in the last month. Traders do not want to go home short because they don’t know what news might

For days we’ve had the “calm before the storm” as traders waited for the Fed’s decision. On Wednesday a decent durable goods number and an unexpected build in oil inventories helped spark a short covering rally. The “dogs were barking” and stocks that had been hit hard were leading the charge–but it couldn’t last. Last