Breached pennant formations among the major market indexes are having a techinical impact on stocks.

A poker-faced market as investors await the Fed’s decision tomorrow afternoon; the consensus seems to be that they won’t raise rates. 

There is an old Wall Street adage that dates back to 1915 that says, “Sell on Rosh Hashana and buy on Yom Kippur.” 

For the stock market, resiliency is an important factor to consider, especially amid many headline challenges that investors face on a daily basis. 

Perhaps one of the best things that can be said about the stock market at this point is that the major market indices are holding at, or very near, the upwardly revised support levels. 

Common thread among major market indexes. Their patterns are similar, producing a trend of descending peaks but ascending lows.

Today is the 22nd anniversary of the September 11th attacks. May we always remember and honor the civilians, firemen, police, first responders and military who lost their lives on that day. 

The stock market is at a technical crossroads, a test point of sorts. 

The latest survey by the American Association of Individual Investors shows that bearish consensus has fallen significantly, and it is now standing well below its historical norm around 31. 

The sharp and abrupt selloff that we’ve seen in some sectors and themes since mid-July can be interpreted in several ways. My take is…