Paul Shread

Yesterday’s lows on the Dow and S&P 500 tested and held the indexes’ main bull market trendlines from August 1982. That makes 8480 on the Dow and 984 on the S&P 500 critical support levels here. With the S&P futures down about 20 points this morning, those levels could potentially be retested today. Those lines […]

Stocks battled back from a steep decline on Wednesday, as the market found its first buyers this week. The ISDEX http://www.wsrn.com/apps/ISDEX/ slipped 2 to 123, and the Nasdaq fell 27 to 1527. The S&P 500 lost 16 to 1016, and the Dow dropped 144 to 8759. Volume rose to 2.1 billion shares on the NYSE, […]

Some key trend indicators are approaching levels that have marked some substantial bottoms during the 18-month U.S. bear market. The problem is, there may be one more leg down first, perhaps equal in length to Monday’s big decline. The indicators are ADX and MACD, and of the two, ADX is probably the more important. It […]

The Dow and S&P 500 neared their main bull market supports from 1982 yesterday, the first time in more than six years that they’ve approached those trendlines. The main trendlines from the long bull market are not too much below yesterday’s lows (see charts below), say about 3%, at 8600 on the Dow and about […]

U.S. stocks reopened Monday after the longest shutdown since the Great Depression, and in a single trading day, the investing landscape shifted dramatically, as former leaders plunged and former laggards soared. The ISDEX http://www.wsrn.com/apps/ISDEX/ plunged 13 to 131, and the Nasdaq fell 115 to 1579. The S&P 500 dropped 53 to 1038, and the Dow […]

The Dow Jones Industrial Average opened down about 600 points on Monday, as industrial, financial and consumer stocks plunged. Stocks with airline exposure, such as United Technologies and Boeing , lost about 20%. American Express lost about 20%. American Airlines parent AMR and United Airlines parent UAL each lost about 40%. The Nasdaq fared somewhat […]

World markets fell sharply Friday on nervousness about U.S. markets and resistance by the Taliban regime in Afghanistan to efforts to capture suspected terrorist Osama bin Laden. European markets fell 4%-6%. One of the few major markets to avoid the sell-off was Japan’s Nikkei, which surged back above 10,000 on news that debt-ridden retailer Mycal […]

I was going to write yet another piece about what could happen when the U.S. stock market reopens on Monday, but I couldn’t. It’s time to write about Bill Meehan. Bill Meehan was the chief market analyst for Cantor Fitzgerald, which occupied floors 101-105 of the World Trade Center’s North Tower, the first target hit […]

Oracle topped estimates by a penny on Thursday, but investors will have to wait until Monday to see what the market thinks of the results. U.S. stock exchanges will be closed again on Friday, extending the longest NYSE close since the Great Depression. But market officials said they will test the exchanges on Saturday and […]

U.S. treasury securities rallied in light trading Thursday morning, pricing in another half-point rate cut by the Federal Reserve. The bond and commodity markets were the first U.S. financial markets to reopen since Tuesday’s massive terrorist attack destroyed the World Trade Center and damaged the Pentagon. The U.S. stock market remained closed for the third […]

In the wake of the worst terrorist attack in U.S. history, economists are debating whether the resulting shock could be enough to tip the fragile U.S. economy into recession. The U.S. economy was already weak before yesterday’s massive terrorist attack on the World Trade Center and the pentagon. The resulting economic shock – massive property […]

U.S. stock exchanges will remain closed Thursday, but will definitely reopen by Monday, according to market officials. At a press conference of NYSE, Nasdaq, SEC and Treasury officials, NYSE chairman Richard Grasso said the markets could open as soon as Friday, but that respect for rescue efforts and the need for stable trading conditions would […]