After yesterdays' selloff, even on the heels of today's rally, we can put the island bottom to bed. We can also put the oversold condition to bed. But, we do now have a return to an unconfirmed recovery phase in …
{written by Geoff Bysshe, co-founder of MarketGauge, filling in for Mish}
Mish was expected to return Tuesday morning, but it is now more likely that she'll be back Wednesday morning with an possible appearance in the room and on Twitter …
The most important consideration in determining market direction is price action. It's not indicators that measure overbought or oversold. That said there and interesting oversold pattern in the 3-day RSI and the McClellan Oscillator. It is not a typical pattern …
Seeing a lot of oversold indications on the 2-Day RSIs as NASDAQ (QQQ) and Midcaps (IWM) as both indices fill gaps to negate an island bottom whilst S & P 500 (SPY) did not. Volume was lighter than yesterday's. The …
Today reminds me of an anxious child (the market) anticipating some great big surprise (From the FED) and when it doesn't happen (No Policy Change), throwing a bit of a tantrum (The Selloff). But, does that child remember the tantrum …
Looking at the S & P 500 (SPY) chart, the important number to hold is the upwardly sloping 50 DMA at 122.73. That would keep the island bottom and phase intact. Furthermore, the 80 monthly moving average comes in right …
"Sarkozy smiling as he leaves the EU meeting." Twitter entry last Friday. He must have known that NASDQ would end the week with a Golden Cross and its 4th Accumulation Day in volume. Now, everything is lined up-the moving averages, …
And just like that, no more overbought conditions in the indexes! While the EU dance around with one another, let's look at my favorite indicators:
SPY: Bye bye 200 DMA for now. Hello the Exponential Moving Average. No change of …
4 Accumulation Days in volume and a close above the illustrious 200 DMA in S & P 500. Officially overbought on the 2-Day RSI but not on the weekly or monthly. Midcaps (IWM) on the other hand, had a distribution …
Inside day in S & P 500, NASDQ and almost Russells (took out prior day low by a few ticks). Placement of the inside day especially in SPY most fascinating-tickling the 200 Daily Moving Average. Did not do enough correcting …