SPY: Wrote 123.50 pivotal, today's low 123.60. 127.50 the 200 DMA next big area
IWM: Like Gilligan's Island, the island top turned out to be more like a 3-hour tour. 77.75 the 200 DMA with 73.45 support to hold
QQQ: …
Spectacular gains, drops then gains since last week. Low volume after a big distribution day yesterday.QQQ holding above the 200 DMA with an uninspiring day. Midcaps (IWM) on the island top signal which only negates if that gap to 73.93 …
Islands everywhere. IWM UUP FXI AAPL for starters. But trading on that one pattern alone when the market goes up and down 100 like a slinky, can strip one of his/her shirt leaving one, well, bare chested. Most famous and …
After breakaway gaps, low volume and inside days in SPY and IWM, today filled the gap which takes wind of the sails of the last move up. Not a confirmed phase change from Accumulation to Recovery in SPY until there …
Not unexpectedly, all the indexes had low volume, narrow ranges with inside days. SPY ran 18% from its peak low October 4th to the high made on October 27th . The other 4 times this occurred, (single month rallies of …
Midcaps (IWM) had the highest percentage gain of all the indexes. Speaks to layering in to the mix, the positive earnings season in mid and smaller cap stocks. Following the positive volume patterns as well as the slope of the …
Technicals are mixed making this a really tough environment. Slope on the 50 DMA in SPY has declined although price is above along with a positive phase and volume patterns good (another accumulation day today.) Big note: If SPY closes …
Earnings season has not been kind to the leading stocks AAPL IBM and now AMZN. Let's not even talk about NFLX-that fall from grace happened quite some time ago. The recent run, which came to a screeching halt today, was …
A couple of caveats remain. First, is volume. Conflicting signals in that QQQ has had a good amount of accumulation days (had one today) as does SPY (did not have one today), but, the volume remains under the daily average …
Friday could be the classic close that cleared the recent congestion in SPY with a fourth accumulation day in volume under its belt over the last 2 weeks. Cleared the 80 monthly and 160 Exponential moving averages. That makes 121.30 …