Finance expert Mark McMillan talks about what’s been happening in the market sessions this week and gives his trade recommendations.
“The major index ETFs opened lower and immediately moved higher for the first half hour of trading as they edged up to positive territory. The release of an economic report at that time caused the markets to lurch lower the rest of the morning. The afternoon was spent recovering from this move lower with the S&P-500, the Dow, the Russell-2000, and the Semiconductor Index (SOX 327.75 -0.95) finishing lower but the NASDAQ ended about the same and the NASDAQ-100 closed a half percent higher. Once again, resistance in the S&P-500 at just above 1100 seems to have stymied the markets. The Russell-2000 traded up to its 50-Day Moving Average (DMA) for the second day and finished near the level of its lower open. The 20+ year Lehman Bond (TLT 90.35 +1.06) moved lower as expected. Volume on the NYSE decreased slightly to a light 1.060B shares. Volume at the NASDAQ also decreased to modest levels trading 2.322B shares…”
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About Mark McMillan:
Mark McMillan entered the world of finance to solve the problem of why and more importantly when the markets will go up and down. He developed a behavioral model to understand what is really happening in the markets and uses it to time the markets. He also uses fundamental research to determine valuations for companies. He combines the behavioral and value strategies along with macro-economic analysis to build a portfolio with both long term and tactical positions.
About EQUITIES:
Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.
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