When Biotechnology (IBB) corrected, Commodities (GLD USO) took the lead. With Commodities still in favor (although ultimately begging for an interest rate hike which could take the kibosh out of this run) Biotechs led the charge again. Other sectors followed …
Other than a lot of divergence with commodities leading and Biotechnology, Real Estate andTransportation lagging, the overall indexes were rather unremarkable.
S&P 500 (SPY) Closed right around the May 2011 high. Volume on par with Friday. Not too much new-no …
Leading the market analysis with AAPL once again. The giant neither confirmed a possible reversal from last week's blow off run nor negated it, closing right in the middle of uncertainty.
NASDAQ (QQQ) closed with an inside day-indecisive. S&P 500 …
AAPL held the fast moving average, but still has the reversal candle looming and will confirm the reversal if it gaps and closes lower than today's low. Conversely, it will negate it if closes above the body of Wednesday's candle …
An old friend who owned AAPL stock since $100 called me and said I am getting out today once it traded $525 with a sell stop at $517. He is not a professional trader and has ignored many "TV" analysts …
Roses Have Thorns
S&P 500 (SPY) The 10 DMA still a good place to now hold.
Russell 2000 (IWM) Through 82.10 back in the game. 81.00 big support to hold.
NASDQ (QQQ) Another strong closing price (new high in a …
Nearly gained back the loss from Friday in S&P 500, but until it takes out the July high 135.70, with today's DOJI (opening and closing price virtually the same), still more of a hesitation at these levels, especially since the …
Even with Friday's selloff, we just touched the surface of working off overbought market internals leaving the big question of whether with the trend very much intact, and the 2 key indexes S&P 500 (SPY) and NASDAQ (QQQ) holding key …
S&P 500 (SPY) could not clear the July high 135.70 although giving it big high fives for valiant effort. Earlier this week we explored what a top looks like. One indication is an orderly price testing at resistance. Perhaps July …
Best statistic I read is that Bloomberg reported Hedge Funds were up .2% at the end of January, while theS&P 500 (SPY) was up 4.4%. The low volume certainly speaks to that. As the island top from July inSPY is …