All posts by Todd Mitchell

11-11-2018 Todd’s Market Update

Bulls Get Weekly Win but Technical Outlook Remains Weak U.S. markets ended the week on a sour note as a plunge in oil prices and uneasiness about the housing market resurrected fears of an uncertain path for the economy, both here and abroad. Oil is near its lowest level in eight months after dipping below […]

Continue reading

11-07-2018 Todd’s Market Update

Bulls Make a Strong Statement U.S. markets opened higher and stayed strong following the results from the midterm elections, which played out just as Wall Street had expected. Republicans held the majority in the Senate, while Democrats gained control of the U.S. House of Representatives, raising the prospect of gridlock in D.C. between the two […]

Continue reading

11-06-2018 Todd’s Market Update

Near-Term Resistance Levels Cleared U.S. markets opened mixed while spending the majority of the session trading in positive territory afterwards. There was some late day weakness before a strong rally to session highs into the close and ahead of the midterms elections.The outcome should help ease the near-term uncertainty of how Congress is controlled but […]

Continue reading

11-05-2018 Todd’s Market Update

VIX Holds 20 for a 3rd-Straight Session U.S. markets got off to a mixed start for the week following ongoing trade concerns and ahead of the midterm elections. Additionally, FOMC meetings on Wednesday and Thursday this week weighed on investor sentiment.China’s President Xi Jinping’s came back with some harsh words over the weekend for the […]

Continue reading

11-04-2018 Todd’s Market Update

Bulls Post Strong Weekly Gains U.S. markets showed continued momentum on Friday’s open and were looking to extend a 3-session win streak following a strong jobs number. However, continued trade rhetoric and near-term resistance levels were too much to overcome with the major indexes rolling over an hour afterwards.The small-caps made a late session comeback […]

Continue reading

11-01-2018 Todd’s Market Update

Bulls Get Hat Trick ​U.S. markets opened higher but began to lose some steam in early morning action following 2 days of solid gains. However, an optimistic tweet from President Trump about trade talks with China renewed strength with the market extending its rally to a third-straight session.Trump tweeted he had a long and very […]

Continue reading

10-31-2018 Todd’s Market Update

Bulls Get Back-to-Back Wins U.S. markets wrapped up a volatile month with the S&P 500 and Nasdaq closing higher in back-to-back sessions for the first time since September. The recent rebound is signaling a possible near-term bottom is in but the rest of the week has a number of high profile earnings due out.The longer-term […]

Continue reading

10-30-2018 Todd’s Market Update

VIX Continues to Hold 25 U.S. markets opened slightly lower but showed strength shortly afterwards while maintaining positive territory for much of the session. President Trump’s remarks about a potential “great deal” with China helped sentiment and follows news that the U.S. could levy tariffs on the balance of Chinese imports.Tech showed some midday weakness […]

Continue reading

10-29-2018 Todd’s Market Update

Bulls Push Fresh Monthly Lows U.S. markets showed strength throughout much of the session before late days news on trade talks derailed the rally. The White House is reportedly preparing to announce tariffs by early December on all remaining Chinese imports if talks next month between presidents Donald Trump and Xi Jinping fail to make […]

Continue reading

10-28-2018 Todd’s Market Update

Bears Stay Aggressive During October Correction U.S. markets wrapped up a volatile week with fresh monthly lows as corporate earnings and continued trade rhetoric weighed on sentiment. Larry Kudlow, head of President Trump’s National Economic Council, accused China of refusing to engage on trade issues.Chinese officials are said to be bracing for a prolonged fight […]

Continue reading