Apart from the fact that Bank of America (BAC) is up 3% the day after it hit a low 4.93 yesterday, the lowest level since March 2009, let’s notice that current strength has not inflicted any meaningful technical damage to...
Read MoreAnd that’s being kind. The market that goes nowhere has been seeing the bears gain some slight edge lately, and we saw that in the action today. The leading headaches for the bulls, the financial and commodity stocks, took...
Read MoreIn the aftermath of the 2007-2009 banking crisis bear market in global equities, the first market to reverse (Oct. 2008) — and the first one to peak — in the near-vertical advance thereafter was the Shanghai...
Read MoreAt least the bears can say that they broke the S&P 500 down below critical support at 1225, where the 50-day exponential moving averages lived along with the top of a gap up. A powerful gap up at that. Two powerful forces...
Read MoreWeakness in nearby NYMEX Crude Oil has continued beneath my original target zone of 93.80 into a near corrective low of 92.52 so far. Once again, my 4-hour RSI momentum work has registered a downside NON-confirmation of...
Read MoreLet’s be aware that the “Twins” are acting in unison again, which warns us to watch the Euro/US Dollar like a hawk for directional clues about the e-mini S&P 500. Both indices appear to have failed in their...
Read MoreYes, today we saw breakdowns below the 50-day exponential moving average on the S&P 500 and Nasdaq. Yes, today also took out the tops of those huge gap ups. Not good to see if you’re a bull. However, it wasn’t a...
Read MoreAfter failing to climb out of its December “bullish” coil pattern above 395.00 yesterday, Apple (AAPL) has plunged in sympathy with the overall market. The stock is quickly approaching a test of its 50% retracement...
Read MoreLet’s notice that today’s weakness in the SPDR Gold Shares (GLD) has pressed the price structure right to a test of its 11-month support line, now at 160.90, which so far has contained the selling pressure. That...
Read MoreOvernight we heard from Moody’s when they decided to join in and confirm the potential downgrades of many Eurozone countries, who currently have AAA ratings. The potential downgrade coming after S&P 500 first made that...
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