I know it seems impossible for this market to keep going higher, and maybe it won’t, but the S&P 500 is trying to break through its 200-day exponential moving average at 1234. It’s ever so close to forcefully...
Read MoreSince around October 11th, the UUP has carved out a rounded type of bottom formation (inversely correlated with the rounded top formation exhibited by the spy ), which we notice is pushing up against key near-term resistance at...
Read MoreThe market has made a run from S&P 500 1074 on an intraday basis all the way up to 1233. An incredible move. No one is unhappy about this move who played the long side today. The short side got hit hard, especially the...
Read MoreThe analog pattern that pops out of my work is not 1998, but Oct 2007 to Jun 2008, which certainly more closely resembles the fundamental world in which we find ourselves now. Let’s notice that in March 2008, the S&P...
Read MoreThe overall picture that is developing on the daily 10-year T-Note Yield chart has the right look of an expanding, rounded base pattern that is consolidating above its initial lower base area between 1.70% and 2.10%. Let’s...
Read MoreToday was certainly a nasty reminder and more. It was a very unhappy day for the stock market as lots of bad news hit over the weekend from Europe and the United States. From Europe we had news that the country is not situated...
Read MoreApple (AAPL) comes out with earnings tomorrow (Tuesday) after the closing bell, and we have to figure that the results will be stellar. That said, AAPL technically is set up for a potential sell-the-news event in the aftermath...
Read MoreExpecting high-flying Google (GOOG) to make a run at its 2011 resistance line, now at 620-21 Yes, but probably not in a straight line. My intraday pattern work argues for 608-610, followed by a “pullback” to the 580...
Read MoreLet’s notice the relative weakness of the S&P 500 Depository Receipts (SPY) in relation to the PowerShares QQQ Trust (QQQ), exhibited by the juxtapostions of their trading moving averages. The QQQ has found support at...
Read MoreThere really wasn’t much to focus on last night from overseas. The futures were up higher, however, and the move higher in Europe, France, etc. gave our markets a nice boost as the morning wore on, allowing for a decent...
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