The stock market indices, despite a big gap down at the opening and sharply lower levels by midmorning, managed to scrap their way back with a big move in the morning and late afternoon in a very nice comeback. Nonetheless, they...
Read MoreThe stock market indices gapped up sharply at the opening, ran all day, and only in the last half hour did they pull back, but still closed sharply higher on the day. Net on the day, the Dow was up 93.47 at 12,719.49, the...
Read MoreAt the very least, my intermediate-term pattern work in Walter Energy (WLT) argues strongly that the 27.5% decline from April 8 to June 20 represented a completed corrective phase, if not an entirely completed correction. In...
Read MoreThe stock market indices had another up day today, but the rout was a little less simple. It opened firm, and then went down, taking out the lows of the last couple sessions on the S&P 500 and the Nasdaq 100. The indices...
Read MoreIt’s not often you stay this overbought in a market on the short-term charts. There have been many attempts to sell things off, but once the RSI’s get under 70, the buying starts right back up. This is only a...
Read MoreBased on the contracting, coil-consolidation type patterns carved out in the euro/dollar and in spot gold since the first week of May, those two markets right now are warning us to expect potentially powerful, bullish upside...
Read MoreThe stock market indices after last week’s big move had somewhat of a consolidation day in the blue chips, and yet a minor follow-through day on the Nasdaq 100 as several of the large-cap stocks, including...
Read MoreSince mid-session Friday, U.S. Steel (X) has been consolidating above its May-June breakout plateau at 46.30/40, which serves (so far) as a high-level digestion period atop its June 20 upleg from 40.66. The pattern carved out...
Read MoreThe stock market indices had probably the best week in years, ending with a bang for the week with five consecutive sharp, up days in a row. The week saw the S&P 500 move from 1263 to 1340 and the Nasdaq 100 surge sharply...
Read MoreMarkets have a way of making everyone look bad or foolish. Just when you think one trend is firmly established, and there’s no hope for the other side of the game, things turn. Euphoria can turn to despair and despair...
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