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Showing Posts 61 - 70 out of 116 found.

ESH5: Cat And Mouse Game

ESH5: Cat And Mouse Game

Yesterday The S&P500 mini-futures (ESH5) continued their cat-and-mouse game yesterday (Tues. Feb. 10). The market has been coyly flirting with an extended rectangle pattern that marks a broad consolidation area going back to the beginning of the year. Friday it broke out to the upside … sort of. Monday it pulled back inside the consolidation area. Tuesday it closed at 2062.25, close to...

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Futures Market Review and Forecast: New Target Zone

Futures Market Review and Forecast: New Target Zone

The forecast foray to the upside occurred in a timely manner yesterday, with the market closing at the key “ceiling” level of 2061 after a brief overshoot. Surprise rallies happen when a significant “wall of worry” is in place, as it is now. This is a new profile from Mid-December, showing a volume profile point of control (VPPOC) at 2051, which should act as a new floor for any retracement....

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Job Openings Just About Says It All

Job Openings Just About Says It All

Do you ever feel as if you are in a rut, and you just cannot get out? Of course you do; everyone does, now and then.  I do now, and it is not the first time I have felt this as I write. When I feel this way, I always wonder why. After all, I can write about anything in the market, so why do I sit here and feel what I am writing about is me in a rut? Actually, the answer is not about me at...

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Sell The LO Feb Put Spread

Sell The LO Feb Put Spread

Lorillard Inc. (NYSE: LO, $66.31) is a Greensboro, NC-based tobacco company marketing cigarettes under brand names including Newport.  So far in 2015, shares haven’t had any adverse health effects on investors - the stock is up nearly 5.5% year to date.  The long term impact has been positive as well – shares were up over 26% on the year in 2014, after posting solid gains the year prior.  In...

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The Market In Cha-Cha-Cha Mode

The Market In Cha-Cha-Cha Mode

Where Is The Market Heading? Higher oil prices and good economic data helped US equities rally last week.  On Friday, market indices started to sell into the close and this momentum continued into the Monday morning trading session. So what's ahead for the market, and should we be tightening our stops in our long positions? A Close Look At The QQQ's. Since mid-December, when the QQQ's...

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SPX Downside Cycle Starting

SPX Downside Cycle Starting

The Sentiment Timing Index has been doing a very good job letting in us know when to expect the larger moves both to the upside and downside.  The important thing about trading the Sentiment Timing turn dates, though, is not to be anchored to the date but to use it as a time period for a potential turn. Since January 15th, when we were set up for a confusing grind higher, the volatility has...

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SPX: Back In The Box

SPX: Back In The Box

Yesterday Monday (Feb. 9,) we described how the S&P500 large-cap index (SPX) had formed a rectangle pattern, and we warned that false breakouts from these rectangles were common. A couple of hours later, the SPX pulled back inside the box, like a groundhog frightened by its shadow. Six more weeks of winter! The futures (ESH5) dropped from Friday's exuberant run up over the week, rallied...

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Futures Market Review and Forecast: Housekeeping Chores Completed

Futures Market Review and Forecast: Housekeeping Chores Completed

As I forecast yesterday, given the overbought conditions, the S&P decided to fill the gap from 2/4-2/5 at 2036.75. Filling gaps is normal housekeeping behavior. I anticipate a period of consolidation below 2061 before another foray to the upside. This consolidation could take a few days or even a bit longer. The best time for a breakout rally, however, is when most folks least expect it...

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The Market Is Mired In A Confidence Crisis

The Market Is Mired In A Confidence Crisis

There really is no other way to explain the twists and turns of this market other than increasing doubts that higher prices can continue. We're not talking about outrageous valuations and lack of investing control as we saw back in the late 90's. No, I am referring to self-doubt and the confidence crisis that was created from the global financial collapse just six, short years ago. The...

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Oil, Could It Go To $20?

Oil, Could It Go To $20?

I have an idea – let’s talk oil. Aside from Greece and Ukraine, it is one of the hot market topics of the, day, uh ... week, no, month, year? In any case, oil is hot, and with the current uptick in prices, one has to ask – is the fall in prices over? Me? Well, you know my position. Oil has become subject to fundamentals, generally speaking. Now, having said that, the current uptick in prices...

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