After another down day on the markets, the number of socks above their 50-day moving average continues to shrink. We now sit almost at half and half with a mere 54% existing above this crucial level. Compare that to a week ago when 95% were above and I think we’re all seeking some relief while [...]
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By The Numbers Everyone keep your hands, arms and legs inside at all times because we’re about to go for a ride. Out of the 557 analyzed in the S&P 500 and TSE 60, only 25 advanced, 531 declined and 1 remained indifferent. Looking back to Monday when 472 (or 85%) of the stocks were [...]
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Best Buy Company Inc. (NYSE: BBY $$39.29) News event: Announced lower than expected second quarter earnings Technical comment: Best Buy currently has a positive technical profile. Intermediate trend is up. The stock trades above its 50 and 200 day moving averages. Intermediate support is at $31.25. Intermediate resistance is at $41.89 recently was tested [...]
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