The stock market indices started lower and kept on going lower all day today and closed not too far off the session lows. It was a fairly orderly decline, particularly in the afternoon but still a nasty day. Net on the day, the...
Read MoreWe have a market that spent a lot of time moving slowly off its original highs at 2887 Nasdaq and 1370 S&P 500. A slow methodical move lower that suddenly picked up a lot of steam a few weeks back. A tremendous...
Read MoreThe stock market indices had a very strong rally after a very weak opening today. They snapped back with a vengeance, particularly after Greece agreed to a five-year austerity plan in Europe, which gave a lot of confidence to...
Read MoreA look at the chart of the inverse China Stock Index ETF — the ProShares UltraShort FTSE/XINHUA 25 Stock Index (FXP) — suggests strongly that slowing Chinese growth and climbing inflation remain part of the problem,...
Read MoreThe stock market indices suffered a late sell-off and moved sharply into negative territory as a result. The key to today’s action was that several attempts at breaking out above intraday resistance failed, and that...
Read MoreAnd that’s good news for the bulls as they needed a peaceful, slow moving day to allow the 60-minute short-term charts to unwind some from overbought. 70 RSI’s are 70 RSI’s and it happened fast after...
Read MoreApart from whatever the pundits, economists and Fed watchers tell us really is important about today’s FOMC statement and press conference, my technical work on the 10-year T-bond yield continues to reflect a pattern that...
Read MoreThe stock market indices had a big session today from the get-go, with the Nasdaq 100 exploding from 2200 to 2247 and the S&P 500 jumping from 1277 to 1296 in the first two and a half hours. The indices backed and filled for...
Read MoreMy cycle work on the S&P 500 shows that Monday was day #67 in the 70-75 trading cycle (low to low), with my Dual Cycle low (20-25 day and 70-75 day) due to bottom together between June 27 and July 6. If the dual cycle...
Read MoreAnd that had to be expected on some level. No matter how bad the situation is in terms of poor market action, it’s normal protocol to bounce when the oscillators get too compressed to the down side, especially when...
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