The stock market indices had a down day, but came way back in the last couple hours to shave a big chunk off the losses. The day started out with a big gap to the downside, bounced, and then went sharply lower in the morning,...
Read MoreWe saw the market come off its lows today. To many this will seem as if the selling is finally over. I’d be very careful with that type of thinking since all the market did was rally a bit after the dollar hit major...
Read MoreToday’s early low in Bank of America (NYSE: BAC) at 11.08 held above last week’s low at 11.05, which held above the October 26 low at 11.03. Today’s subsequent rally to 11.25/30 has carved out a minor base-like...
Read MoreNo one can argue that today was somewhat of a shock since the day after Thanksgiving is normally an up day with a retail bias. No buying today with the Dow down nearly one hundred points. The S&P 500 performed poorly as well...
Read MoreThe stock market indices ended the day with a bang, gapping up sharply, and running hard early on positive economic news. Then they settled into a sideways consolidation for a couple hours, and by midday broke out once more to...
Read MoreThe trin is a way of measuring very short-term sentiment. Whenever it hits levels of 2.0, or higher, it almost guarantee’s a rally of some magnitude the very next day. Yesterday I mentioned in the final update how we were...
Read MoreYesterday General Motors (NYSE: GM) tested the post-offering low (33.11) with a secondary low at 33.17, prior to pivoting to the upside into this morning’s rally peak at 33.80. The micro pattern from 33.17 to 33.80...
Read MoreThe stock market indices suffered a nasty spill today as world markets were lower, partially because of the saber rattling between North and South Korea. The indices dropped sharply at the opening, gapped down, tried to rally...
Read MoreThe e-mini S&P 500 is approaching key support at 1171.00, and the S&P 500 Depository Receipts (SPY) is approaching key support at 118.00-117.60. So why aren’t I positioning myself long the UltraShort SPY...
Read MoreThe stock market indices had a mixed result at the close today, but our board was vastly higher. The day started out with a gap down, more so on the S&P 500 than on the Nasdaq 100. They snapped back, with the NDX reaching...
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