David Moenning

Understanding The Current Market Logic image

Understanding The Current Market Logic

Given the state of the COVID headlines, the ongoing fighting over additional economic stimulus, the prospect of higher taxes next year, and the potential for a contested election, one couldn't be blamed for a less than optimistic outlook toward the stock market. However, "market logic" is…

All About The Stimulus

Executive Summary: I'm often asked why I keep a 1-minute chart of the S&P 500 on my screen at all times. Since I don't trade on a short-term basis, it can be argued that the minute-to-minute movement of the market should be ignored. However, by watching the in…
Bulls Not Out Of The Woods Yet image

Bulls Not Out Of The Woods Yet

Executive Summary: Last week, I opined that the key to the near-term action was the battle that looked to be raging over the 50-day moving average. While I haven't placed much emphasis on the 50- and/or 200-day moving averages in decades, it appears that the press…

Keep Those Seatbelts Fastened

Executive Summary: The current narrative in the stock market appears to be that with the President and a bunch of WH staffers/Senators having contracted COVID, the chances of a stimulus bill have improved over the last few days. In response, stocks have rallied on…

Bulls Are On Their Own

Executive Summary: From my seat, the primary driving factors behind the stock market action continue to be (a) the state of the economic recovery, (b) the outlook for additional stimulus, and (c) the outlook on the COVID crisis. On the latter subject, the key seem…

The Battle For Control Is On

Executive Summary: From my seat, the key to the action on the chart of the S&P 500 here is the battle for the 50-day moving average. To review, the bulls were able to make a stop at the 3225 zone on a closing basis. This was important because it kept the pullb…

Markets Like The Stimulus Talk

Executive Summary: Although September has lived up to the historical script as being a weak month for stock prices, the mood on Wall Street appears to be improving a bit to start the week. From my seat, the more upbeat view on the stock market can be tied directly…

Looking For Clues To Next Move

Executive Summary: After the bulls were able to produce a "good overbought" condition that lasted two full months on the back of the reopening trade and an improving economy, the bears finally found a way to get up off the mat and push the market into an oversold …

Coloring Outside The Lines

Executive Summary: In last week's technical review, I opined that (a) there were clear lines in the sand on the charts of the major indices, (b) any movement in between those lines could be viewed as "noise," and (c) a break above or below the key support/resistan…

The Correction Continues

Executive Summary: Stocks find themselves in a negative state again this morning as the headlines are all bad. There are new fears about an economic shutdown in the UK, concerns about the startling rise in new COVID cases, the global banking scandal, and worries a…