A daily stock market commentary using fundamental, technical, and options market analysis, with some common sense, to challenge the mainstream

The Stock Market Continues To Struggle, Despite Rising Prices

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The Stock Market Continues To Struggle, Despite Rising Prices

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The stock market is in rally mode once again, with the S&p 500 up about 1.4 percent. But today’s story is not all that different than yesterday’s unfortunately. The S&P 500 also failed at resistance again, this time around 2,660. The trend line has been in place since late January when the S&P 500 peaked. A break above 2,660 is bullish with the next level to watch for being at 2,690. This afternoon will be important should the breakout occur.


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Micron continues to fail at resistance at $49.75. The sellers won’t it lift to this point.



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Amazon continues to stay firmly beneath $1440.


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Facebook continues to stay below $161.50


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But there is a glimmer of hope because the XLK remains above $64.75, and the longer-term uptrend, and maybe what ultimately matters.


Until This Evening.


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