Stock Market Trends Continue Neutral Bias | JWN Earnings
JWN Nordstrom Inc Stock Chart 8.21.19 Before Earnings
Make no mistake about it, the stock market is stuck in neutral.
Looking at long-term charts you can see the uptrend, but for initiating new swing trades or day trades, we are hawking day to day price action.
So we need to make a decision, do we drop to lower time frames and look for obvious trends? The answer is yes and no, with a warning.
Dropping down to the hourly chart we can easily find signs of order flow. Three to five days of trading can reveal buyers or sellers. Nothing wrong with that if it's in your trading plan.
Here's where you will have a problem -- when the stock market picks a direction again.
Dropping down works but it changes your focus. When you switch back to higher time frames for swing trades and or position trades, you tend to cut your profits short, and make your stop loss too tight.
I am staying patient on the higher time frames and waiting for clear signs. One thing to note is many of the financial stocks are testing or below the 200 sma. Worth tracking for new trades.
Pete
Earnings Preview: Any Signs of Life at Nordstrom?
What a difference a year makes. At this time in 2018, Nordstrom (NYSE:JWN) was riding high following an excellent second-quarter performance.
Nordstrom reported a 4% increase in comparable-store sales for that period — with similar gains in the full- price and off-price sides of its business — and raised its full-year guidance. That sent Nordstrom stock soaring to a multiyear high around $65 last fall.
Nordstrom stock has lost more than half of its value since then…
fool.com/investing/earnings-preview-jwn
Kohl's Earnings Top, But Comps Miss Ahead Of Nordstrom Report
Kohl's (KSS) topped second-quarter earnings views and reaffirmed full-year guidance, in sharp contrast to Macy's (M) last week. The department store chain missed on same-store sales, but signaled improving trends. Kohl's stock tumbled.
An open letter to Jerome Powell from Wall Street
Dear Chairman Powell,
Policy makers have lost control of the narrative, making it time for a radical change in the focus of domestic monetary policy.
This is a call to the Federal Reserve to abandon interest-rate targeting and adopt inflation targeting using the balance sheet as the intermediate focus of policy decision. Allow short-term rates to be determined by market forces instead of by policy.
marketwatch.com/the-fed-needs-policy-change
Lowe’s stock surges after company beats second-quarter earnings and revenue estimates
Lowe’s shares surged Wednesday morning after the home improvement store released second-quarter earnings that beat Wall Street forecasts and topped rival Home Depot on same-store sales growth in the U.S.
