More digestion near the top of the recent trading range with an accumulation day in volume in S&P 500 although still under the daily average. Same with NASDQ only that has managed to maintain the breakaway gap from Tuesday. Both …
Classic digestion day in NASDQ and S & P 500 with a confirmed phase change in SPY to Accumulation yet unimpressive volume. QQQ looks better since confirmed a bullish phase with a bullish candle and held the breakaway gap-albeit on …
Financials and Commodities step up on the first day of trading in the New Year. Lots of gaps higher which if this market is any good, should hold. The classic leading sectors/groups at the end of 2011 comparatively struggled -retail …
Volume wise, the week ended with a whimper and all three major U.S. indexes finished lower. Both the Dow and the S&P 500 Index closed down 0.6% for the week and the Nasdaq Composite Index fell 0.5% on a weekly …
Not a surprising selloff as we climbed the wall of worry to the top of the trading range since the summer.
SPY: After a 5 day incline to the 200 DMA, this selloff was not a big surprise. Worked off …
SPY: rallied 5 days in a row drawn to the 200 DMA on light volume. Needs to stay there are approaching overbought on 2-Day RSI. Got a second close to confirm an accumulation phase.
QQQ: Tried but could close above …
SPY Made it to the 200 DMA at 126.10. Question is as we now approach overbought on the 2-Day RSI, will it stick around there?
QQQ: Could not quite make it to the 200 DMA 56.16 with its super light …
Watch for an email that invites you to attend my end-of-year Live Webinar called Phases and Forecasts, scheduled December 29th at 12:30 EST! Everything I write about everyday: Phase, Slope, Volume, Chart Patterns, etc. will be reviewed in detail, along …
The Market's a Wonderland!
Today, the wonder was in the Ultrashort Lehman 20+ Year Treasuries (TBT). Rates made new lows this week; turned around yesterday and then today, opened firm in the face of index weakness. Rates stayed firm the …
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 …
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