The S&P 500 fell to an intraday low of 2583 yesterday, bringing its total decline to 12.1% from the top at 2941 in September. In Wall Street’s dictionary, a pullback of more than 10% is officially a correction and many are already worried about the big bear market ahead. On the other hand, it was…
Bitcoin Was Going “to the Moon”… And Then It Wasn’t
What a difference a year can make. This time last year Bitcoin was thought to be going “to the moon” by a great majority of people. BTCUSD was approaching the $20 000 mark at the time and financial gurus, hedge fund managers, celebrities and small individual investors alike were rushing to join the bulls. Many…
Ford Stock Looks Attractive Near Fibonacci Support
Ford stock holders did not have a lot of reasons to celebrate in recent years. The stock climbed to $18.12 in July 2014, but has been sliding ever since. To make matters worse, 2018 brought a decline from $13.48 in January to as low as $8.17 last month. Ford stock closed at $9.25 yesterday, which…
Nordstrom Crashed. Was EPS Miss the Real Reason?
Nordstrom shareholders were enjoying a smooth ride so far in 2018. The stock was up by as much as 38.8% by the end of October, crushing the return of the S&P 500 by a large margin. November, on the other hand, is not that generous. JWN fell from $67.75 to less than $50 a share…
LEG Stock Lost 38% in Two Years. Time to Buy?
Less than two years ago, in February 2017, the price of Leggett & Platt shares was hovering above $49 a share. LEG stock was still thought to be in an uptrend, following a steady rally from $10.03 in March 2009. However, stocks get more risky as they rise, not less. Following a 400% rally in…
3M Stock: Another Elliott Wave Reason for Skepticism
2018 has not been very kind to 3M stock investors. The share price was hovering in the vicinity of $260 in January. Fast-forward to October 26th , it was down to $181.98 for a 30% plunge in just ten months. Now let’s take a look at the 4-hour chart of 3M stock, which we shared…
PayPal Stock Entering High-Risk Territory
PayPal Holdings Inc. was spun off from eBay in 2015 and, judging from its share price three years later, it has been a tremendous investment. PayPal stock fell to $30 a share in August 2015. By September 2018, it was trading above the $93 mark. Following last month’s dip to $74.66, the stock is on…
S&P 500 Rallying Sharply, but Not Unexpectedly
S&P 500 bulls had a terrible October. The index was down 11% at one point, but managed to minimize the damage and finished the month down 7.3%. November, on the other hand, is looking a lot better, following a recovery of almost 100 points in the first seven days. President Trump’s reported request for a…
MCD Stock is a Bull Trap at New All-Time Highs
Less than two months ago, on September 19th, the stock price of the biggest fast food chain in the world was hovering below $158 a share. MCD stock had spent most of 2018 moving sideways without making any meaningful progress. The good news was that in the meantime it had formed a textbook triangle correction,…
DJ New Zealand Index Falling Off a Cliff
October brought a real bloodbath to stock markets around the world. The Dow Jones Industrial Average and the S&P 500 just turned negative for the year and equities in Japan, China and Germany are also falling in sympathy. While leading indices are plunging it’s no wonder that other countries’ benchmarks are suffering as well. The…
AMD Stock Confirms Bearish Reversal
A month and a half ago, on September 11th, AMD stock was hovering around $30 a share following a spectacular 190% rally in 2018. Optimism was running high, but knowing that semiconductors is an extremely cyclical industry, we thought it was time to “be careful”. Of course, the stock did not start declining immediately after…
Amsterdam Stock Exchange Index to Lose 20%
Similarly to the Dow Jones Industrial and the S&P 500, the Amsterdam stock exchange index, or AEX, has been in a uptrend since the end of the Financial crisis. Its journey to the north started from 195 in March 2009 and went on to almost 577 in July 2018. As of this writing, the Dutch…
DAX Set to Lose Another 2000, Elliott Wave Suggests
The German DAX climbed to an all-time high of 13 597 in late-January. The benchmark had just exceeded the previous record of 12 391 set in April 2015 and the bulls were already bracing for even higher highs in the near future. Alas, it was not meant to be. As of this writing, the German…
Dow Jones: Has the Crash Begun? Maybe
Historically speaking, October is one of the good months to be invested in the American stock market. According to Business Insider U.S. equities have mostly ended this month in positive territory, averaging 0.4% gain in the month of October since 1929. Not this October, though, and not for the Dow Jones Industrial. Excluding dividends, the…
Bank of America Slides Despite Record Quarter
Bank of America reported its Q3 results on Monday. To say that the mega bank’s performance was good would be an understatement. Record net income of $7.2 billion translated into EPS of $0.66, 11% return on equity and 1.23% return on assets. The latter is a pretty solid result for a bank with $2.34 trillion…
