But, was it really hocus pocus?
After all, the S&P 500 held the 50-week moving average as did the Retail Sector XRT, and Biotechnology IBB.
Furthermore, NASDAQ QQQ put in a reversal bottom.
And the Russell 2000 IWM, held the …
As some of you know, I call the Russell 2000 IWM, the Granddad of the U.S. Economic Economic Modern Family.
I do so because the Russell is comprised of 2000 small cap stocks that are 99.86% located in the United …
If ripened fruit has not been picked from a tree, it will eventually fall.
For those unwittingly standing beneath that tree, falling fruit can cause a nasty bump on the head.
Considering how overripe the market and economy have been, …
On the daily charts, the Russell 2000 IWM broke down on September 26th, when it closed below the 50 DMA and into a Warning Phase.
Then, last week, the first breakdown on the weekly chart confirmed under a key exponential …
On August 22nd, I wrote a blog called “Can the Market Live on Canned Rations?”
In it I wondered about the threat of the Transportation Sector:
“Transportation IYT, made a new all-time high, but closed beneath 206.90 and the older …
Take a good look at the photo.
You will see a really long line that extends well out-of-sight.
We stood on that line from 1 AM until 5 AM along with the rest of the crowd. Maybe it was the …
Last week, the Semiconductors ETF closed under the 50-week moving average for the first time since November 2016.
Three weeks before, the Regional Banks ETF (KRE) broke its 50-week moving average.
However, KRE does not have the same record as …
Starting with last Monday, the divergence between the Dow and the Russell 2000 became a hot topic.
All throughout the week, rates and the dollar rose along with oil.
The Dow made a new high, but did so all alone.…
Our radar screen lit up today as many instruments changed phases for the worse.
Transportation (IYT), such a big focus as the one to tell us what’s next, went into an unconfirmed warning phase.
Semiconductors (SMH) went into an unconfirmed …
We see a perfect illustration of today’s action in the sculpture if we think of the “adult” as the Dow and the “child” as the Russell 2000.
In the overall metaphor of the Economic Modern Family, the Russell’s are granddad.…
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