Author: Richard Hefter

Yesterday we saw the market gap up through 1119 or the 50-day exponential moving average. This is normally where right shoulder go to die. You get a move to and through the 50-day and then it tails down and fails overall to stay...

The stock market indices had a definitive downside follow-through today with a strong afternoon sell-off. In the morning they gapped up and snapped back to resistance, and then they pulled back to retest, which was successful,...

The stock market indices suffered a very nasty reversal for Monday and closed not far off the session lows. Only a last 15-minute snapback rally brought the indices off the afternoon spike lows. But damage was done, and the...

And a nice head fake it was indeed. The Yuan news from overnight out of China got the futures rocking much higher than that news seemed to be worthy of, but hey, who is to argue with good futures when you’re long on the...

The iShares 20+ Year T-Bond ETF (TLT) has recovered sharply from this morning’s plunge, which more than any other market is warning us that perhaps the clamor to get back into riskier assets based on the yuan story is...

The stock market indices spent Friday’s session consolidating. After an early morning run up, they backed off, and then meandered sideways in coil-type fashion. At the end of the day some last hour firming brought the...

And that’s about all there is folks. Have a nice weekend. Ok… so I need to write a little bit more, but in truth, there is very little to speak of tonight. The market made two tries to get through the elusive 50-day...

The ProShares Ultra Long SPY (NYSE: SSO) remains within a narrow range atop the June 8 upleg, as does the emini S&P 500 emini, which continues to grind in a very narrow range between 1116 and 1110.50. All of the action of...

We were overbought starting things out yesterday. The market was close to the top of the range or close to getting through the 50-day exponential moving average at 1119 S&P 500. Overbought at resistance means you’re...