It seems that US markets are now less focused on what’s happening in Japan and more concerned with their own backyard as investors shrugged off another steep selloff in the Japanese market. Thursday’s positive run started when weekly jobless claims came in at 12,000 to a seasonally adjusted 334,000 last week, according to the Labor Department, falling near the lowest level in nearly five years. And retail sales climbed 0.6 percent in May, according to the Commerce Department, topping expectations for a gain of 0.4 percent. Retail sales account for about 30 percent of consumer spending. Things continued to look up after the Wall Street Journal reported that the Fed was nowhere close to raising short term interest rates.

Shares in Apple saw a bit of a gain after rumors started swirling that they would indeed look at what Samsung and other competitors have been doing and will be launching iPhones with bigger screens and a variety of colors. I for one would be a huge fan of this as I truly love my Samsung Note 2, which gives me the ability to have so much more control over my phone with such a large user friendly screen. While Apple declined to comment shares of Apple climbed slightly to finish the session off at nearly $436.00.

Simply Click Here To Watch Our Short Video Review

Saw this setup this morning before i jumped in the shower. S&P was at the bottom of its short term Open Range for the day and made for a quick In and out trade a quick day trade using options. Open Range trading is a technique we teach in advanced trading and an excellent tool for any income/career traders.

Why trade? Well… .I took a speculative trade on Freddie Mac on Thursday at $1.73 based on a very specific reversal pattern I look for. After holding the position from Thursday through the weekend I woke Monday morning to watch the shares jump to $2.41 and $2.47 respectively where I exited my position in two separate orders. Moral of the story? Well…with a highly probable rule based trade the 30 minutes of work I put into finding and executing the trade paid for awonderful relaxing weekend and my flight there and back on the sea plane.

Who likes 169% profit in less than a week!? Check out this screenshot of one of the trades our head coach picked and traded last week.

It seems that uncertainty in quantitative easing is what drove the markets to such a volatile day, when Bernanke first came out say that the Fed purchasing would continue as jobless markets and the over market would not be changing its current policies anytime soon. Then selling took hold when Bernanke was questioned about the unwinding of quantitative easing. He said the Fed could start paring back purchases in a couple of months, and even though New York Fed President William Dudley had publicly said the same thing, markets went into a tail spin. It seems we currently have a conflicted Fed and it’s time to start looking at how this quantitative easing is truly helping the markets. As reported last night it seems strange that during home buildings biggest season that we would see 2 directors of Standard Pacific Corporation who both sold off nearly $220 million in shares during this time in the market. We will report further on this during tomorrow night’s trading room so be sure to tune into then.

After market close Hewlett-Packard released their quarter 2 results which outpaced expectations all though significantly below year over year results. On top of their guidance beat for the quarter, they also raised internal guidance for the third quarter which sent the stock trading up over 15% during aftermarket trading. Although the PC business has been suffering it seems that HP has controlled cost enough to make up for this downturn in the PC market and may still yet be able to evolve into the 21st century. We will keep a close eye on this tomorrow to see if the aftermarket trading was simply euphoria, or truly the beliefs of investors in this company. It seems like we could see a pullback in the markets as we had more potential shorts during our scans then we have seen in sometime. However the market has fooled us before during this recent bull run so being causes and looking for individual stocks that meet your criteria continues to be the rule of thumb.

During an interview with CNBC, Seth Masters of Bernstein Global Wealth Management also showed his strong beliefs in a growing equities markets still seeing the Dow Jones Industrial Average hit 20,000 before 2020, saying that it may take awhile but believes its still an accurate target. He even carried on saying that Goldman Sachs’ upgraded targets on the S&P 500 may still be understated. With institutional investors continuing to show their faith in this run, we may see an increase in retail investors jumping back in the market as their confidence likely should be improving. Right now we will continue to let our longs run further than normal and our shorts shorter than normal, paying close attention to volume and Twiggs Money Flow.

Once again Tuesday’s trading session saw all major U.S. Indexes trade higher, making it the 19th consecutive Tuesday of gains for the Dow Jones Industrial Average. The Dow Jones set another new all-time high closing up 52.30 points to 15387.52, while the S&P 500 also set a new all-time high closing at 1669.16. Currently the S&P 500 is on pace to have its biggest one month gain since 2011.

With little economic news to breakdown today; investors tuned into discussions from Fed Officials for early indications on their thoughts with the present quantitative easing program. It seems that currently the general consensus is to continue the influx of capital in to the markets, but to adjust based on the changes in incoming data on the economic front. Many feel however that equity markets are to driven by this Quantitative Easing, and it could come back to bite us, as this current rally has little to do with an improving underlying economy. With many different viewpoints on Fed policy investors and traders alike continued its buying pushing the markets even higher. This topic will likely be the focus of fundamentalists for the remainder of the month until a more solid direction from the Feds is understood.

While most economists show their beliefs in a bullish market but upgrading many of their future outlooks it seems that insiders may still not have quite the same outlook. Insider selling continues to drastically outpace insider buying with only 3 significant insider purchases taking place over the past couple of weeks compared with dozens of insider sales. The 3 purchases coming from a director of Acadia Pharmaceuticals, a director of Chesapeake Energy Corporation, and a director of Genomic Health Inc. The most notable sales came from 2 directors of Standard Pacific Corporation who both sold off nearly $220 million in shares on Monday May 20, 2013. Standard Pacific Corporation operates as a builder of single-family attached and detached homes in the United States. Coming into what is generally this industries biggest season, this could be a sign of the true health of the U.S. housing market. This is something we will be keeping a close eye on. Be sure to tune into Tuesday’s Trading to get a complete technical breakdown on a handful of stocks in many different sectors.

This week was notable for IPO’s, as it could be the highest volume of companies debuting in the markets since late 2007. Quintiles Transnational Holdings the biggest provider of testing services to drug makers saw its first day of public trading today on the NYSE under the symbol Q. During Intraday trading shares of Quintiles jumped over 10% to as high as $44.33 before settling in at $42.11 by market close. This is the second time that Quintiles was an IPO going public in 1997, before becoming private again in 2003. Quintiles was the largest of seven IPOs to debut today which also included fast-growing mortgage lender PennyMac Financial Services, a startup founded by the former president of Countrywide Financial. Priced at 18.00, PennyMac closed 6% higher at 19.10 and was able to raise over $200 million in capital. Computer networking specialist Cyan and biotech company Receptos also debuted this week.

In other news today, The Wall Street Journal reported that giant Amazon.com looks like they will be the next to enter the smartphone market as they may be developing a high-end smartphone that features a 3-D display. It would be viewable without specialized glasses and use eye-tracking technology to make images float like 3-D holograms from almost any viewing angle. In April, Amazon announced that developers can now submit their apps for distribution in nearly 200 countries, including Australia, Brazil, Canada, Mexico, India, South Africa, South Korea, and even Papua New Guinea and Vatican City. Amazons shares have traded in a fairly close range so far this year starting the New Year off trading at the $258.00 level, trading as high as $283.99 and as low as $248.23.

The most exciting trade of the day came in the form of electric vehicles, as Tesla announced their first quarterly profit in the company’s 10 year history. Net Income came in at just over $11 million, which was nearly 3 times what Wall Street on average had expected. The income was created through the sale and delivery of 4,900 electric cars during the quarter, a few more than the 400 they had anticipated in delivering. Demand for the year has now been predicted to be more than 15,000 in the US and 30,000 worldwide. Tesla was also please to increase profit margins by reducing the number of hours it takes to build a Model S by nearly 40%. With these announcements shares skyrocketed by over 30% to a new intraday high of $75.77, before settling in at $69.40 at market close. This company will be interesting to watch to see if demand for these electric cars can continue to grow.

Acorn Wealth will now be offering an advanced trading workshop for those who are ready to go to the next level of training. Up until now this has never been offered and will allow those who are ready to get some of the secret trading methods from professional traders. If you are ready to continue your education and get some tips and tricks which are never publicly released now is the time. Please send an email to info@acornwealthcorp.com and indicate your interest. Happy Trading!!

While many significant economic health indicators have been showing signs of caution, the markets show no signs of slowing down. Many on Wall Street believe that we will continue to see quantitative easing through to the end of 2014, with anticipations of the Fed buying more than $350 billion in assets. This continued asset buying and infusion of cash into the market has certainly helped the stock market, but is still yet to be seen if it improves the health of the overall economy.

This morning Apple announced the biggest- ever non-bank issues at $17 billion, as the tech giant looks to improve investor sentiment around the company. The debt offering included fixed and floating-rate notes, ranging from 3 years to 30 years, with extremely low interest rates such as 0.45 percent for the three-year fixed and 3.85 percent on the 30-year. The bonds are being priced lower than previously expected but will yield more than its comparable Treasury bonds.

This follows the report the Alisher Usmanov, the richest man in Russia and Britain, bought $100 million worth of shares in Apple. The $17 billion size easily trumps the previous biggest single deal according to Thomson Reuters/IFR data, a $14.7 billion deal from Abbott Laboratories spin-off AbbVie last November. Following a 40% decline in its share value, Usmanov felt now was the time to get involved. These announcements helped shares rally a further 3% Tuesday, with its current 10-day rally now up over 12%. Shares ended the day at $442.78, up from a low of 385.10 on April 19, 2013.

The world’s second largest drug maker, Pfizer Inc, reported a 53% increase in net income during the first quarter of 2013, despite weaker than expected sales. The company also lowered their profit and sales forecast for the year, as drug patents expire and patients flood to less expensive generic competition. The biggest hit has been copycat versions of Pfizer’s cholesterol fighter Lipitor, which was the world’s best-selling drug for nearly a decade until it lost exclusivity in the U.S. in 2011 and in much of Europe last year. Revenue from Lipitor, which once brought in about $13 billion a year, dropped 55 percent to $626 million in the first quarter. Shares in Pfizer fell 4.5% to close just above $29.00 a share after setting a fresh new 52-week high on April 23rd, 2013.

Pfizer released two drugs which could see significant success, Xeljanz for rheumatoid arthritis and Eliquis for preventing strokes, and will begin planning ads for targeting consumers. While Pfizer may have some reduction in growth this year, it seems the long term health of this company still looks quite good. Tomorrow we will see 63 companies release their earnings before market open including Allergan Inc, Devon Energy Corporation, Merck & Co, and Time Warner Inc.

Tomorrow we will be scanning the market for potential shorting opportunities to be sure to have a read through of tomorrows Evening Newsletter.

The data for the index are collected through a survey of 400 purchasing managers in the manufacturing sector on five different fields, production level, new orders from customers, speed of supplier deliveries, inventories, and employment level. Those being surveyed are expected to report either better, worse, or same as standards as the previous month.Any reading over 50% indicates expansion.

The Chicago-PMI, which is a survey focusing on only the activity in the Chicago region, dropped 4.4% to 52.4%, significantly below expectations. Investors care about this indicator because the Chicago region somewhat mirrors the nation in its distribution of manufacturing and non-manufacturing activity.

Earnings numbers continue to come through with the likes of Procter & Gamble, Boeing, and AT&t all reporting before market open today, with Apple reporting yesterday after market close. While earnings have been good, they have not been spectacular with many companies having a difficult time increasing their top line. Although earnings per share numbers have been coming in quite strong, this can be affected by the significant stock buy backs many companies have been doing over the last couple of years.

Closing Wednesdays’s trading session the S&P500 managed to sqeek out a positive close ending at $1,578.79, while the Dow Jones Industrial Average traded down 43.16 points to $14,676.30, breaking a 3-day rally. The Nasdaq eked out a gain of 0.32 points, to end at 3,269.65. Interestingly enough yesterday marked the 15th consecutive Tuesday in which the Dow Jones closed in positive territory, the longest such run since 1927.

On April 18, 2013, the S&P 500 made a new low of $1,536.03 over its recent lows, showing signs of weakness, and have enjoyed a bounce from that support level. The next foreseeable resistance will come from either some sort of downward channel, which will find resistance near the $1,585 level, or a double top, which would find resistance at the $1,590-$1,596 levels. If this is to play out as a real bearish trend you would want to see both lower lows and lower highs. We will continue to assess the patterns however for a complete breakdown of the technical’s currently surrounding the S&P500, be sure to tune into Tuesday nights trading room.

Another area we will continue to watch is housing market, which has a lot riding on it when looking at the overall health of the markets. New home sales gained 1.5 percent in March to an adjusted annual rate of 417,000. While the numbers have been reasonably good considering the low level of activity surrounding the housing market, however we still have a long way to go to get back to the levels of 2006.

With the Feds and Central Banks around the world pumping money into the systems we expect to stay somewhat in this trading range for the foreseeable future. We will be sticking to our philosophy of selecting Individual stocks which have great promise either to the upside or the downside until we see a significant break in markets in one way or another.