Well, well, well, Welcome to Scenario 3! The one where the S&P 500 (SPY) gaps higher and closes higher leaving a potential bottom on the recent correction, as well as closing above the fast moving average. Looking at the whole …
Last night, I wrote up 3 possible scenarios. 1. Watch for a return move over the high of the gap down day to follow up. 2. Keep a cash position until the market tests a major moving average (such as …
One never knows a top is in place until it confirms. So, even though we had the bearish candle in S&P 500 (SPY), followed by the 2 inside days, followed by the break of the range and now, the gap …
After the 2 inside days, S&P 500 (SPY) broke the lows and closed just beneath the fast moving average, first time since January 31st. Certainly merits respect, but is only one layer of analysis. The phase remains bullish. There is …
Dow Jones Industrial Average (DIA) and NASDAQ 100 (QQQ) closed slightly higher on Friday while QQQ closed higher on the week and DIA basically unchanged. S&P 500 (SPY) closed lower on Friday but slightly higher on the week. Russells 2000 …
3 things are clear. 1. The market is not dead yet. 2. The Rotation and Roll Game is alive and well with the Transportation Sector (IYT) the new "it" ETF 3. The Japanese Bearish Candlestick pattern in the S&P 500 …
Hard to look at more scary candles or a market that makes new highs then closes on its lows. It's hard not to view a lower close as the end of days. But, stepping back, there has been incongruity with …
S&P 500 (SPY) Still very low volume which means the blow off rally has not happened yet. Subs-OR reversals now would be a gift.
NASDAQ (QQQ) Another low volume day with lots of traders aside. Not sure I would be …
There is an online game called Rotate and Roll. Trading ain't no game, but clearly readiness to rotate and roll are good skills to hone.
S&P 500 (SPY) Closed just at the May 2011 high at 137.18 with an Accumulation …
The overall expectation last Friday was for a quiet day. We got it. The DJIA tested and closed just beneath 13,000, which seems more psychologically than technically significant. S&P 500 (SPY) ended with a DOJI candle (opening and closing price …