Author: Richard Hefter

The stock market indices started the week on a down note after a morning rally extension took them to higher levels as a follow-through to Friday’s rally. But, the indices rolled over in the afternoon in a 3-wave decline...

And that’s what everyone was expecting after that wonderful hammer on all the critical index charts in the last hour on Friday. The S&P 500 touched the 200-day exponential moving average at 1046 (1044 print) and...

The action in the PowerShares QQQ Trust (Nasdaq: QQQQ) is not exactly ripping the cover off the ball in the aftermath of Friday’s sharp, late-session upside recovery from 42.12 to 43.02. That said, the hourly chart pattern...

The market has come down a long way in a fairly short period of time. It wasn’t too long ago that the S&P 500 printed 1151. Intra-day yesterday we hit 1044 on the S&P 500 or a drop of 107 points or roughly 9.5%. A...

The DXY (cash dollar index) continues to leap higher in reaction to uncertainties about the sovereign debt conditions of a subset of countries referred to as the PIIGS. Let’s notice that after emerging to the upside on...

It was a very negative session today as the bears took control with a big opening gap down. A sharp early morning slide took out a couple layers of support. They tried a mid-day consolidation but failed to rally back and in the...

There are many words which could describe today’s action but I think splat says it best. Clear, concise and to the point. It felt like splat for the bulls without question. The Nasdaq over the past three days wasn’t...

The enclosed weekly chart that the decline in the Euro (vs. the Dollar) is pointed straight down and could be heading for a test of the major up trendline off of the October 2000 low at 0.8230, which cuts across the price axis...