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Market Review and Forecast: NQ Now Correcting

Market Review and Forecast: NQ Now Correcting

The Nasdaq 100 stubbornly resisted correcting until last Friday, when sellers finally broke key support at the 4443 level and created some decisive down side momentum. It’s likely that momentum will continue to the 4381 level where we have a small high volume node (see red circle on chart). Unfortunately, that node is almost irrelevant in contrast with the larger nodes below it; the nearest...

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A Normal Interest-Rate Environment Is Healthy

A Normal Interest-Rate Environment Is Healthy

In with the new out with the old. This is the natural flow of the multiverses. Change is inevitable and our world is changing. A new technical paradigm is upon us, the New Economy is firmly rooted.    Apple, the largest U.S. company by market value, will join the storied Dow Jones industrial average, replacing AT&T, in a change that reflects the dominant position of iPhone maker in the...

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Market Review and Forecast: NQ Just Marking Time

Market Review and Forecast: NQ Just Marking Time

The tale of the Nasdaq 100 is a story of an index that just won’t die or even stumble. Its #1 player, Apple (AAPL), fell almost 2% on Thursday and the NQ closed up on the day. To me, this suggests rather strongly that the Nasdaq 100 is not done going up. The futures once again closed the day session very near to the Volume Point of Control (VPOC), which is now 4443.  The size of the volume...

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Gaming The Next Apple Event

Gaming The Next Apple Event

Apple has an event scheduled for next Monday March 9, and it appears this will be an introduction to the much talked-about wearable device.  Some are saying it is a watch, but I would not be surprised if Apple calls it something more than a watch.  When there is a scheduled event, but the contents/outcome is uncertain, that tends to raise the level of anxiety.  Will they bring what everyone...

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ESH5: Non-Farm Payrolls This Morning: Only Short-term Impact

ESH5: Non-Farm Payrolls This Morning: Only Short-term Impact

Yesterday The S&P500 mini-futures (ESH5) closed at 2099.75 yesterday (Mar. 5), essentially flat for the day, but slightly above the previous close (2096.50), breaking a two-day streak of marginally losing days. The volume was slightly above the average for recent weeks, and the daily range was very narrow. The market opened the regular trading session two ticks above 2100 and closed one...

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All Over The Map Today

All Over The Map Today

The market today is acting rather sedate after two days of losing steam. To my vision, this behavior is expected. Given the sudden rush to the top, smashing all ceilings and building new floors, it is apparent the market needed some time to completely digest the new levels, and it took that time with two days of selling off. It is now closer to “right.” Yet, today’s US economic news came out...

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The Euro Currency – A Bearish Play

The Euro Currency – A Bearish Play

Mario Draghi gave a bit more detail Thursday morning about the European Central Bank’s asset purchase program. Starting on March 9th, the EU will start buying bonds at a rate of 60 billion Euros a month to fight of the threat of deflation.  Draghi also stated that the program is planned to continue through September of 2016. The ECB is committed to a QE program (quantitative easing) similar...

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Market Review and Forecast: In the Megaphone

Market Review and Forecast: In the Megaphone

On Wednesday the Nasdaq 100 dipped down into its megaphone pattern, but without a lot of enthusiasm. In other words, the selling did not get intense or vicious. The futures closed the day session (shown on this chart) very near to the Volume Point of Control (VPOC), which is now 4442.75. Again, I’d like to point out the size of the volume histogram peak at that level. This area is acting as...

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Positioning For A Return To $100 In Restoration Hardware

Positioning For A Return To $100 In Restoration Hardware

While fellow home furnishings and improvements company, Lumber Liquidators, deals with a plunging stock price on allegations of Chinese laminate wood flooring that contains high levels of formaldehyde, Restoration Hardware continues to thrive. The $3.6B company issued stronger Q4 guidance on February 5th (earnings due out in three weeks), to the tune of $1.00-$1.01 per share in EPS on...

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ESH5: The Fed Is Talking It Up, Again

ESH5: The Fed Is Talking It Up, Again

Yesterday The market was on the way down in overnight trading and right after the open, before a strong support area and a “soft” intervention from the Federal Reserve reversed the decline. The S&P 500 futures (ESH5) still ended the day down 8.50 points, but it could easily have been much worse. The decline began overnight, when European traders were perhaps anticipating a bad number for...

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