Shorter term, I am still suspicious of the rally in the S&P. I was bearish slightly since 1/23. Today is 1/27 Yesterday we seem to have had a blow off top. People got caught long and then when the negative housing numbers...
Read MoreInterestingly, the S&P cash has bounced 119 point in the last 4 weeks. On December 19th, we posted a low at 1203. Today’s high so far, has been 1322. S&P cash is up at a long term trend line resistance today. Three...
Read MoreUSDA in a word. Bearish> Looks like we are headed back to our December lows. Remember those? 11.00 bean, 5.80 corn, 5.77 wheat?We may be headed longer term towards grain returning to being prices LESS than the price of...
Read MoreCurrently Gold has violated the second of the three trendlines I have written abuot before. Back on December 14th and 15th, Gold found support at 1570. We rallied to the high of 1611 on the 21st. Today’s settlement below...
Read MoreHere we go again, with the Dow making a fresh run above the 12250 level in the cash. 12,500 should be resistance. However in the broader S&P 500, we have a ways to go to challenge 1292 which was the October 4 month high....
Read MoreThere are 3 long term trend lines to look at in Gold.The First extends back to the Sep 2009 low at 1022 Hits at The Feb 9th 2010 low at 1070-=– It projects support at 1350.. HMMMThe second Starts at the Feb 9th low at...
Read MoreI can’t for the life of me wonder what is keeping the lid on Dow index above 12,200. 8 times in the last 2 months, we’ve challenged that level and fell back. Last Thursday we traded well above that level, up to...
Read MoreThis morning a friend sent me a statistic I found very interesting. If you have read my stuff at all, I am a big fan of being contrarian.Presently we have a situation where the public turned bearish stocks a few months ago. As...
Read MoreDow Index moves to a new 5-month high and high settlement. No confirmation with the S&P though, with that index 25 handles away from similar multi month highs. For now, I am suspect and would be more inclined to sit tight...
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