The stock market continues to sell off for the third day in a row. Just last Friday, the markets opened at a new all-time high. Why is this time different than other pullbacks in the market? Below are the three reasons things are different this time. [more]
This morning, leading discount retailer Dollar Tree Inc (NASDAQ:DLTR) is declining lower by 0.56 cents to $56.20 a share. The stocks seems to be coming under pressure with the over sector. Day traders should watch for intra-day support around the $55.78 level. This is an area on the chart that was defended on September 17th, 2014. Often, prior support levels will once again serve as solid intra-day chart support again when initially retested. [more]
Yesterday, Newmont Mining Corp (NYSE:NEM) filled an important gap on the charts, and came into an important trend line of support. As of late gold prices have been falling dramatically, dragging miners down with it. However, the metal as well as many of the leading miners, including Newmont Mining Corp (NYSE:NEM) are starting to set up for possible short term bottoms. [more]
Silver flushed almost 3% in overnight trading. This downside continued the sharp slide from Friday for a net max loss of 6% in two days. Silver has fallen approximately 20% in the last few months. However, a bottom may be finally in place. In early afternoon trading today, silver has sharply recovered and is putting in a possible bottoming tail on the daily chart. This is a bullish reversal signal and could mean upside is on its way.
This morning, leading oil refinery stock Phillips 66 (NYSE:PSX) is trading lower by $1.36 to $84.39 a share. The stock seems to be declining lower with most of the other leading refinery and energy stocks. Day traders should watch Phillips 66 stock around the $84.10 level as this should be near term intra-day chart support. This is an area where the stock is likely to stage a bounce. [more]