The remarkable series of higher lows in the ProShares UltraLong SPY (NYSE: SSO) remains intact this morning, despite the volatility in FX and precious metals. Yesterday’s pullback low was 41.73, while today’s low so...
Read MoreThis has been one of those bull markets that constantly make you earn your winnings. It has forced us all to play in to the teeth of some very overbought conditions. If we had followed conventional overbought rules we would have...
Read MoreThe SPDR Gold Shares (GLD) hit a potentially important corrective low at 106.95 yesterday morning (in sympathy with the weak euro). The recovery rally since then has not triggered confirmation that the corrective low is in...
Read MoreIndices Stair-Step Higher By Harry Boxer, www.TheTechTrader.com The stock market indices started out with a drop on lower futures this morning and that was it. They turned right around, rallied in a 5-wave advance for the rest...
Read MoreNo one who is bullish would complain about today’s great reversal off the lows which allowed the market to close green across the board. In fact, the S&P 500 made a perfect, and I mean Perfect, back test of the 1151...
Read MoreThe stock market indices ended the week on a down note on options expiration day. Starting off with a bit of a pop to the upside, they then reversed quickly and slid very sharply in the morning. Bouncing late in the morning,...
Read MoreIt took its sweet time but the selling has finally arrived. We started the day with a small gap down and never really made an effort to shoot higher. Some small attempts but they were quickly knocked down. It took over a month...
Read MoreThere are so many crosscurrents today — options expiration, healthcare reform, S&P rebalancing, among other things. Let’s see if the VIX-SPX relationship can shed any light on what the market is...
Read MoreThe stock market indices edged higher today, but ended mixed with the Nasdaq 100 and Dow making new rally highs. The S&P 500 and the Philadelphia Semiconductor Index (SOXX) trailed. The technicals were rather poor,...
Read MoreAn old story for sure. The market that just doesn’t want to fall very much or even think about surrendering S&P 500 1151, the level just captured by the bulls that officially told us we were on breakout. When we were...
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