The market continues to shake out excess froth and now stands at a critical crossroads. As we discussed on Friday, the S&P 500 ($SPY) appeared poised to lose the 50-day moving average, raising concerns about further downside. Today, the 100-day moving average, sitting not far below, provided support. The key question now—will it hold, or...Read More

Friday brought the kind of fast moves that often follow failed ones. Heading into the holiday-shortened week, the market was poised for a significant breakout across multiple indices, at least from a technical standpoint. Both the S&P 500 and the NASDAQ kicked things off by printing fresh highs.Tuesday saw timid action. Wednesday, we pushed higher, but many stocks failed to...Read More