Read on twitter today that besides the leading stocks, 70% of the S & P 500 stocks have had good earnings in the 3rd quarter. That explains a lot of the divergence traders are experiencing. Again I preface this with …
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 …
Once again, volume (lack of) made buying breakouts and selling breakdowns treacherous especially after the inside day yesterday, which usually signals a directional day to follow. SPY had an accumulation day in volume although still well under the daily average. …
Inside day in all indexes including in a couple of sectors/groups IYT (Transportation) and EWZ (Brazil). SPY QQQ etc all had lower volume so no troubling patterns there. Generally, traders follow the range break of an inside day.
The leaders …
Now 5th Accumulation day in volume in QQQ. It also tested the 200 DMA and held. All the leaders were down, creating yet another divergence on this rally. AAPL earnings disappoint. SPY managed an accumulation as well and since Friday, …
The QQQ worked off an overbought condition on a 2-day RSI and dropped on very light volume, although some of the other market internals are still showing overbought. No distribution day, thereby keeping the 4 accumulation days of volume over …
Slope in the 50 Day Moving Average in SPY finally turned positive just as the 2-Day RSI closes in on overbought. QQQ cleared the summer/fall range, posted a fourth accumulation day in volume and has gone beyond overbought on the …
Mish in the Media
View Mish's Media Highlights
New to Mish's Daily?
Discover Mish's Economic Modern Family
Mish's Articles
View Mish's article archive
