Recent Posts by Tom Aspray

Any Signs The Correction Is Over?

For the past several weeks I have been highlighting reviewing the signs that the stock market rally was weakening after the sharp rally from the July lows. By the end of July ('The Market Appears Bulletproof?') the top in the Dow Transports had been confirmed which warned of weakness in the other market averages. The…
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Don’t Buy Too Early

The recent narrowing of the stock market rally was typical of a tired market. Last week I pointed out that there were a number of technical indicators that made me nervous about the Dow Industrials market leadership. This included the lagging action of the % of S&P 500 stocks above their 50 day EMA and…
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A Worthless Timing Tool?

Before the release of Apple’s earnings I was nervous that the expectations were too high especially with the increased market volatility. The Dow Industrials ability to overcome the 22,000 level was due primarily to the strength of four stocks; Boeing (BA), Apple (AAPL), McDonald’s (MCD) and Caterpillar CAT). It is a concern that the Dow…
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Are The Semiconductors Topping Or Not?

There has been increased focus on the semiconductor stocks since Micron Technologies (MU) plunged in reaction to their earnings. In the month since the earnings report MU did rebound briefly has but the stock is now down 14% from its high. In my June article “Why I Sold Micron Technology Before Earnings,” I reviewed the…
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The Week Ahead: “The Market Appears Bulletproof”?

It was another crazy week in Wall Street and in Washington DC but the markets again survived. In a heavy week for earnings the focus was on three of the FANG stocks, Facebook (FB), Amazon (AMZN) and Alphabet (GOOGL). Netflix (NFLX) had reported on July 17th as it beat on earnings and revenues, opening almost…
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Wait For Signs of A Correction

It was another strong week for stocks as the overall positive earnings have sustained the bullish momentum. All the major averages made new highs and the bullish % from the latest AAII survey jumped 7.2% to 35.5%. It had been below 30% for the past three weeks and this is the highest bullish % since…
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