Unconfirmed phase change in QQQ to recovery, volume patterns all around still uninspiring, slope on 50 DMA more negative, all but SPY back in channel, price-in middle of range from August low to August high. Yet bears have been squeezed …
My list of finding tops/bottoms not in order of importance per se: Price, candle patterns, channel formations, volume, alignment and slope of moving averages (phase and strength/weakness of phase) and a bit of fundamentals (although living in a technical bubble …
Do I think that the good news from our manufacturing sector expanding had anything to do with today's rally in the last 30 minutes? No. But, I would like to point out a couple of tidbits I tweeted today. One …
Two bits of good news, the ISM, Economic activity in the manufacturing sector expanded in September for the 26th consecutive month, and the overall economy grew for the 28th consecutive month. The PMI registered 51.6 percent, an increase of 1 …
Maybe over the long haul the "twist" will do something good for the US economy. Maybe the best thing is that the FED stood aside allowing the market to sell off sharply on its own volition. Maybe the selloff in …
As anticipated GLD and many commodity related instruments got hit today. All of the conflicting signs: the weaker stocks that rallied, phase still bearish, lack of participation by market leaders, poor overall volume, low consumer confidence and short term hike …
There are conflicting signals and a tug of war. First, there is the impressive hold of the August lows and a return to the channel that had broken down in the indexes (SPY chart illustrates). Then, there is the phase-clearly …
Incredible rally off of the August lows, led by the groups that have been trailing for some time now, which could be first indication that the FED's non-inflationary actions are sustainable. We came in with a game plan to buy …
I always have to preface any stray comments from technical analysis with the disclaimer that I am not an economist. But I wrote about Operation Twist a week before it hit the twitter stream because it seemed the right thing …
SPY 110.27 low from early August. Double the recent volume for big distribution day. Back under the 200 weekly moving average and broke under a parallel channel. Oversold on daily, not weekly so at this point see no bottoming indicators …