Home » Market Analysis

Stocks Are Showing Strength

4 August 2010 One Comment

At least for the near future, stocks look strong.  Check out some of the breakouts going on – Simon Property Group (SPG) and Amazon.com (AMZN).

Simon Property Group (SPG) Chart

Simon Property Group (SPG) Chart

Amazon.com (AMZN) Chart

Amazon.com (AMZN) Chart

Now, Transocean (RIG) is a different stock from the high-flying stocks like Amazon.com (AMZN) and Simon Property Group (SPG), but the action is interesting nonetheless.  If RIG can get above the $55 level, we might see significant upside.

Transocean (RIG) Chart

Transocean (RIG) Chart

For now, the trend looks to be up.  A couple questions I have:

  1. Is QE2 priced into the market?
  2. What kind of jobs report is needed on friday to reverse the trend?

One Comment »

  • nathan said:

    Do you not think earnings are higher because either:

    1) the USA just pumped a trillion dollars into the economy and thats falling down to balance sheets

    2) everything has been sold to china..

    The daily SandP is crossing the 200EMA and volume is dropping off implying the bulls are reluctant to enter the market..thoughts?