Apple (AAPL) is pressing against its nearest-term support line at 333.50, which if violated and sustained should trigger downside continuation that tests its prior near-term pivot low at 329.42. Conversely, to get some traction...
Read MoreYou need to recognize a real change when it occurs. Hopefully, all of you can now realize that the market characteristics have changed from bullish to more bearish for the short-term. Once the bears were able to take out...
Read MoreFor three weeks now, the iPath DJ-UBS Grains TR Sub-Idx ETN (JJG) has been “coiling” atop its most recent upleg off of the May 12 pivot low at 49.77 to the May 19 high at 55.71. My work considers the coil a bull-flag...
Read MoreThe stock market indices ended the week on a sour note with a big gap down at the opening. The vast majority of the losses occurred at that point, particularly on the S&P 500. They did bounce back in the morning, snapped...
Read MoreThere is a lot of bad news out there folks. It wasn’t too long ago that we saw good economic reports coming in with regards to expansion. The market was responding with a big move up courtesy of fed Bernanke. The machine...
Read MoreThe stock market indices closed mixed today, but were volatile. The day started out with a slight bump to the upside and then came down. After a brief, sharp pullback they rallied, with the Nasdaq 100 making new early highs and...
Read MoreMy technicals keep warning me that crude oil hit a significant peak at $114.83 on May 2 and since then has embarked on a major correction that is only partially complete. In fact, all of the sideways, recovery action off of its...
Read MoreThe stock market indices made their way to the downside today and got smacked hard. It was a very difficult session as the indices started out with a negative divergence as the Nasdaq 100 was up and the S&P 500 was down....
Read MoreManufacturing and jobs. The market has been watching these economic indicators and noticing that they seem to be holding up through the efforts of QE 1 and QE 2 from fed Bernanke. It’s not that they have been so good....
Read MoreIf the upmove in 10-year yield from the October 2010 low at 2.33% to the February 2011 high at 3.74% represents the first upleg of a new bull phase (higher yield), then all of the action since the February high is a correction...
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