The market begins looking like it will challenge 2012 highs, and winds up closing basically unchanged. From a technical standpoint, this indicates continued consolidation on low volume. Although traders await a nasty correction, that does not appear to be a …
Of our toolbox, when to use what
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5 days of consolidation and counting. Low volume-seems like August Heat is more like August Simmer. S&P 500 (SPY) Inside day. Over 140.92 it's 2012 highs or bust. Remain cautious under 140.Subs: Pivots positive
Russell 2000 (IWM) Landed on the …
Plus actionable information for right now
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Whoa, what low volume drama to end the week. Shooting stars now looking like launch pads for a move higher. Of course, the overbought Relative Strength Indicators give one pause, especially with low volume; but one thing we know-things overbought …
After the shooting star formations in the Dow and S&P 500, in order for that to just go away, the highs from Tuesday in both have to be taken out. Otherwise, it is fairly bizarre action to be hovering up …
One worked one did not, here's how they look now
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Marketgauge has developed some really sophisticated scanning tools, not the least of which is one that categorizes over 400 instruments into phases. Often, the most telling indicator is the number of instruments that change to a more positive or negative …
Another day when we stick to our mechanical trading systems
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Still low volume, however, a bit better than Monday's in all indexes which means an accumulation day all around. Not much else to add other than that price counts too, especially when in line with the phase.
S&P 500 (SPY) …