Ghost Squawk Blog

Stocks Lagging

Stocks are ranging, holding a narrow channel between 3526 and 3584. The Kovach OBV has dipped notably. Unless stocks can gear up for a breakout soon, the S&P may have a downside correction. There are a lot of minor levels below for support but 3526, 3485, and 3433 are the most notable. These come from technical as well as Fibonacci [...]

What’s Next for Stocks?

We had mentioned last night that 3584 would provide resistance and it did, at least for a short scalp. The S&P tested this, then retraced to 3547, over a 30 point move. Currently it is ranging between these two levels. Unless there is a news event to drive it otherwise, it is likely to remain ranging. If it does break [...]

Best Trading and Investing Ideas for Stocks

After the selloff, stocks are gradually tapering up. There is not a lot of momentum here, it is reminiscent of low liquidity drift in the after market. The S&P will face resistance at 3585 and after that there is a big vacuum zone up to 3634. It is highly likely to see more ranging or a further retracement before we [...]

Stocks Retrace

After spiking up dramatically on vaccine news, the S&P retraced the entire move to find support at highs, testing 3584 and 3547. After such a move it is likely to range for a bit, testing current levels and finding footing before the next piece of news ping pongs it elsewhere. The Kovach OBV is still extremely strong, though it's tapering [...]

Pfizer Vaccine: Hear it FIRST on Ghostsquawk!

Stocks have blasted through new highs completely disregarding election drama and focusing solely on the Pfizer news. Indeed news of a 90% success rate in the vaccine has fueled a risk on frenzy. It is really difficult to "crystal ball" what's going to happen other than to say that a retracement is likely at some point. This news seems highly [...]

Stocks Soar

Stocks have absolutely soared. The S&P has blasted through the 3400 handle into the 3500's. It is currently sitting at around 3504, where it should have some support from the psychological 3500 handle. A retracement is definitely overdue, since we rallied almost 300 points this month. Even a 50% retracement to 3379 (referring to October's Fibonacci levels), would be reasonable. [...]

Election Uncertainty and Stocks

The S&P has whipsawed to the extreme even for this product. It has spanned 100 points in the course of several hours which is a degree of volatility on par with oil. The lack of a clear winner in the US elections is clearly to blame here, but it still seems as though the markets are betting on a Trump [...]

Headwinds for Stocks

Stocks have caught a lift of lower levels as we anticipated they would. The level 3241 is a nice lower bound for the S&P at this point. It has since rallied, passing by many technical levels in the process, and is currently testing 3329. The next level is 3343. It is likely that we will see a bit of a [...]

An End to the Stock Carnage?

The US Dollar has breached upper levels in a strong rally that has bled through to the commodities. We have breached 93.83, which was our confirmation of a bull trend: being able to break the range established since the dollar's descent in May. It has just barely broken out from this range currently sitting at 93.83 exactly. It looks like [...]

Stocks Due for a Lift?

Stocks caught a small bounce in the overnight session, likely a relief rally or overnight low liquidity drift. It has since almost fully retraced that small pathetic bounce. The S&P seems due for a relief rally, if not a recovery. There is only so long the stock market will soak in panic from all this coronavirus propaganda. We are currently [...]

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