When the S&P 500 made its measurement at 1220, I had warned quite awhile ago, likely several weeks, possibly a couple of months, that the market would struggle with appreciable upside action. The measurement, once made, is...
Read MoreThe interesting aspect to the enclosed 15 minute chart of the ProShares UltraShort S&P 500 ETF (NYSE: SDS) is that off of the recent double bottom lows at 25.35/36, the SDS rallies have undergone very...
Read MoreThe stock market indices had a down day to end the week. They suffered sharp losses in the morning, although they did bounce back in the afternoon part of the session to take back a chunk of the losses, especially on the...
Read MoreIt took long enough but the selling has finally kicked in for this market. It has done so in a pretty strong way, especially after today’s move lower where the very heavy majority of stocks finished in the red. Finally...
Read MoreSimilar to the relationship between the emini S&P 500 and cash Dollar Index (DXY), the spot gold-DXY relationship also suggests that gold prices are poised to test a key near-term range or channel boundary — in this...
Read MoreThe stock market indices opened with sharp gaps down on negative futures partially due to Cisco’s disappointing earnings, but within minutes reached their session lows. They immediately turned around and started a...
Read MoreThe action in Apple (AAPL) from Tuesday’s all-time high at 321.30 into yesterday’s low at 313.55 — followed by today’s probe of 314.25, prior to the current climb to 317.50-318.00 — has the look and...
Read MoreThe one thing that has been missing for the bears in order to get this market moving lower is a catalyst. The up trend is so locked in place that it needs something to turn the tide in their favor. That has been a struggle for...
Read MoreThe stock market indices moved down lower early this morning and reached new pullback lows, but then consolidated and stabilized near the 2163 area on the Nasdaq 100 and near the 1204 area on the S&P 500. When that occurred...
Read MoreThe enclosed comparison chart supports my sense that the banks in general, and Bank of America (BAC) in particular, are sensitive to the recent shift in the shape of the yield curve. In a loose sort of way, the patterns...
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