That doesn’t mean things have gone from good to bad all in one day for the bulls. In this type of market environment you have to be on your guard as things can change overnight. But that’s not the case for the...
Read MoreThe ProShares UltraShort 20+ Year Treasury ETF (TBT) remains directly related to the direction of the stock indices. The correction off of last Thursday’s high in the emini S&P 500 has been accompanied by a correction...
Read MoreEveryone who participates in the stock market knows this was a great week for the bulls as they accomplished something most thought impossible. That was to blow through S&P 500 1260, and to do it with strong internals, such...
Read MoreThe medium-term technical work in the iPath DJ-UBS Grains TR Sub-Idx ETN (JJG) indicates that a new bull phase started after the June 2010 low at 32.33, which completed its initial up leg at the Feb 2011 high of 58.25. All of...
Read MorePurely from a pattern perspective, all the action in the S&P 500 (emini contract) off of the Oct 18 low at 1185.90 into today’s high at 1275.75 (so far) has the right look of a completed up-leg, with the current...
Read MoreThere’s nothing wrong with consolidation after a nice run up off the lows. Markets often rest when they get close to massive long-term resistance. The key to it all is how they consolidate, or not. If they just plunge...
Read MoreBased on my intraday pattern work, nearby NYMEX Crude Oil should roll over again and press towards 90.10-89.80 next. Should such a scenario unfold, then I will be interested to see if oil closes beneath 90.55, which its 200-day...
Read MoreThe most conspicuous aspect to the enclosed daily iShares Silver Trust (SLV) and SPDR Gold Shares (GLD) patterns is the relative lack of near-term resistance in the latter compared to the former. Purely from a technical...
Read MoreThat’s normal behavior. It rarely moves in the direction of the masses, especially for any extended time period. We have seen the masses get too bearish for quite some time now. It’s approaching two months’...
Read MoreI find it very interesting, and just a bit curious, that while the e-mini S&P 500 (e-SPZ) continues to climb in anticipation of a European debt agreement, and amidst relatively strong earnings — especially from...
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