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Joshua Hayes

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  • The Market hits the breaks Ends Lower

    By Joshua Hayes - May 17, 2013

    The morning did not get off to a great start with disappointing economic data hitting the market. Weak jobless claims and a Philadelphia Fed manufacturing index showed how disappointing the economy continues to be. By mid-day it appeared the market simply didn’t care too much about the weak economic data. Just as new highs were being reached sellers took to the market pushing the market to the lows of more »

  • Turnaround Tuesday Sends Stocks Higher as Trading Volume Jumps

    By Joshua Hayes - May 14, 2013

    The Dow closed higher on Tuesday for the 18th straight week moving higher by more than 100 points. Leading the market higher was the Russell 2000 jumping more than 1.25%. S&P 500 gained more than 1% while the NASDAQ lagged finishing higher by .69%. Surprisingly the VIX jumped more than 1.75% outpacing the S&P 500. Is a big point move coming? AAPL was hit hard during more »

  • Market Pundits Debate the end of QE while Stocks Close Mixed

    By Joshua Hayes - May 14, 2013

    A better than expected seasonally adjusted retail sales figure helped push futures off their lows prior to the market open. Volume was lower on the session staying true to form as far as Monday trading sessions go. The market did not get the benefit of POMO today, but tomorrow we’ll get up to 3 billion in fresh new money entering the market. This market has been relentless and today more »

  • Big Wave Trading Portfolio Update And Top Current Holdings

    By Joshua Hayes - May 12, 2013

    The Big Wave Trading Portfolios remain under a full BUY condition as we head into the upcoming week. There are currently zero items weighing on the model currently and it is not our job to try to guess when and if there will be any in the future. The trend continues to be higher highs and higher lows and until this changes there is no reason to try to top-call more »

  • A Last Minute Kick Save lifts the Markets off their Lows as USDJPY Pushes above 100

    By Joshua Hayes - May 10, 2013

    A better than expected jobless claims figure failed to inspire buyers to hold stocks in positive territory at the start of the game. A weak wholesale inventory report sent sellers rushing into the market only to be saved once again by the Fed’s Permanent Open Market Operations (POMO). Big earnings moves by GMCR and TSLA shined as shorts got their clocked cleaned. Both stocks have been in uptrends and more »

  • Stocks Advance as Volume Swells

    By Joshua Hayes - May 8, 2013

    The lone economic piece of data for the US was Mortgage Applications showing a 7% gain. Economic data will be light for the rest of the week excluding tomorrow initial jobless claims figure. Commodities pushed higher as gold and crude led the way higher. The dollar index fell on the day and still trying to find a way to move above its 50 day moving average. Earnings season continues to more »

  • Stocks Advance Again Volume Jumps

    By Joshua Hayes - May 7, 2013

    Tuesday’s has been very profitable for the market accounting for 70% of gains and today wasn’t any different. Overnight the Nikkei 225 gained more than 3% as the Bank of Japan executes its QE program. If the Federal Reserve were to match the rate at which the BOJ is running the Fed would be printing more than $200 billion a month! This market would go nuts with that more »

  • NASDAQ and S&P 500 Extend Friday’s Gains

    By Joshua Hayes - May 6, 2013

    There wasn’t much fanfare in today’s market without any US economic data. In fact, this week will be quite a bore for those who thrive on economic data. AAPL gained more than two percent as the stock has moved off multi-year lows. BAC vaulted 5% on very strong volume has the stock has moved higher from its most recent consolidation. Volume will be ignored until we see a more »

  • Big Wave Trading Portfolio Update And Top Current Holdings

    By Joshua Hayes - May 5, 2013

    The Big Wave Trading Portfolio is back under a full BUY signal across the board as all major market indexes are hitting new 52-week highs with the SP-500 hitting new all-time highs. The model was in a NEUTRAL pattern coming into the week but on 4/29 the Nasdaq and SP500 switched to a BUY mode with new highs in their respective indexes hit. Following the switch in those two more »

  • Stocks Dive on FOMC Statement and Weak ADP report

    By Joshua Hayes - May 1, 2013

    Small cap stocks lead the entire market lower as the market didn’t respond well to the FOMC’s statement. At the beginning of the day the ADP employment report disappointed showing weak job growth for the month of April. ISM manufacturing did surprise to the upside, but contracted month over month. Economic data continues to be weak across the globe and we continue to see diminishing returns from QE more »

  • Stocks Advance Ignoring a terrible Chicago PMI reading

    By Joshua Hayes - May 1, 2013

    Closing out the month of April stocks were able to go out on a green note. Volume was hot throughout the day and did not need the surge of volume at the end of the day to eclipse Monday’s level. What is normal for this market is for us to see volume not accompany price. We are in a QE driven market where anything is possible. Case-Shiller release saw more »

  • New Highs on Low Volume as Traders look ahead to the Fed Meeting Beginning Tomorrow

    By Joshua Hayes - April 29, 2013

    Another new high set by the market despite uninspiring economic data. Personal savings rate hit a new low as incomes could keep up with spending. In addition, the Dallas Fed survey dropped well below expectations. The Federal Reserve has been pumping billions into the market and we continue to see disappointing economic figures. Starting tomorrow the Fed will begin its two day meeting and all eyes will be on the more »

  • Big Wave Trading Portfolio Update And Top Current Holdings

    By Joshua Hayes - April 28, 2013

    The Big Wave Trading Portfolio remains under a NEUTRAL condition, following this week’s action. While the price action was very strong with many stocks producing large moves, the overall indexes are still trapped in a trading range between their respective recent 1-month highs and lows. While a resolution to the upside does appear to be imminent and all but certain based on the action of stocks, it is still more »

  • NASDAQ Closes Positive for the Fifth Straight Session

    By Joshua Hayes - April 26, 2013

    In just 5 days the market has been able to regain almost all of the prior week’s loss as volume jumps on the day. Jobless claims were better than expected helping boost futures. The only other economic release was the Kansas City Fed Manufacturing Index and it disappointed. Economic news continues to tip the scales towards disappointment possibly setting up a disappointing GDP report. Towards the end of the more »

  • Dow ends win streak; Small caps lead the market higher

    By Joshua Hayes - April 25, 2013

    The market kicked off with a very disappointing Durable Goods reading, yet the S&P 500 and NASDAQ were able to finish just above the flat line. Volume inched higher on the session with the Dow Jones Industrial Average notching a distribution day. PG and T were the two biggest losers on the Dow after disappointing earnings. Small cap stocks led the way with the Russell 2000 gaining 50 basis more »

  • Stocks Extend Gains for Third Straight Day

    By Joshua Hayes - April 24, 2013

    Early morning rally from European markets albeit on continued economic weakness helped fuel early morning gains in US Futures. China didn’t help matters with a disappointing Flash PMI reading with the Shanghai falling 2.6%. US economic data didn’t surprise to the upside with the Markit US PMI came in at 52.0 with the expectations at 53.9. The Richmond Fed Index fell to -6 reading showing more »

  • Big Wave Trading Portfolio Update And Top Current Holdings

    By Joshua Hayes - April 21, 2013

    Due to the distribution this week in all of the major market indexes, the breakdowns in leading stocks, and constant lagging in the Russell 2000, the market direction model has switched to NEUTRAL on all major market indexes.

    The short-term current market environment has gotten choppy over the past few weeks and this action is definitely weighing on the model. The lagging Relative Strength of the Nasdaq and Russell 2000 more »

  • Volume Jumps and Stocks Fall Ending the Market’s Uptrend

    By Joshua Hayes - April 18, 2013

    The NASDAQ Composite loses its 50 day moving average on heavy volume. AAPL and GOOG lead the NASDAQ 100 lower as the big cap technology closed down 1.99%. Commodities followed stocks lower with copper and other metals leading the charge lower. The Federal Reserve’s Beige book showed moderate growth due to autos and housing but did very little to lift the market further off its lows. Blue chips more »

  • Volume Disappears as Stocks Recoup Majority of Monday Losses

    By Joshua Hayes - April 17, 2013

    In fine QE fashion stocks rebound in very light trade. Positive housing data did help the market even though growth came from multi-family homes. Industrial production grew at a faster pace than expected. Today was the first time we had economic data come in better than expected. Sellers disappeared paving the way for the market to float higher throughout the day. Volume disappeared falling more than 20% on the NYSE more »

  • Big Wave Trading Portfolio Update And Top Current Holdings

    By Joshua Hayes - April 13, 2013

    The Big Wave Trading portfolio remains under a BUY signal which was regenerated on March 5th. The Russell 2000 was the only index under a NEUTRAL condition heading into the most recent week but has now re-switched back to a BUY mode as well. Overall, following this week’s action, the uptrend remains in tact and there are no current pressures on the BUY signal.

    The only problem remains the more »

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