The bears gave up at the end of the day and we rallied into the close with SMH leading. While we are due some downside, the buyers are trained to buy any dip. We also have some big earnings tomorrow after close when American...
Read MorePrice held again at the rising five day moving average this morning (magenta dashed line), and is now breaking through R1 on very strong...
Read MoreWe’re getting some mixed signals on GDX and with the TrendX Z signal reversing to the upside this morning so we closed the open Short position for a modest $98 gain. It’s unusual to see this signal reverse before...
Read MoreAction remains sticky on the upside but less positive if you consider the intraday action after the gap up. We are steadily pushing through resistance despite a weak report from Citigroup today. The bears are still anticipating...
Read MorePrice Action [bullish] Volatility continues to decrease on multiple time-frames (C). The market remains overbought on intermediate-term levels, that can be seen as slightly bullish (B/D/E). The expected opening GAP of more than...
Read MoreIf this looks a lot like the Lazy Man metrics dashboard, that’s because it is. What I’m trying to do is determine which of my target ETFs display the greatest momentum, strength of trend and relative strength....
Read MoreThe second week of 2012 continued equity’s march higher, offering a +0.9% gain for the S&P 500 (SPY). I hope equity traders are enjoying their “long weekend” — there is still a dream out there that is...
Read MoreJust thought I’d mention the XLF situation according to the TrendX, which uses 3 different signal triggers to generate a consensus signal.(see Mosaic post on Tuesday for more details). We’ll be talking about what...
Read MoreThe market had set itself up to be susceptible to bad news, and here is our air pocket. The rising ten-day moving average is holding for now, but I expect lower lows/ a minimal retest in the pm...
Read MoreSell opening strength and buy early dip for a late day rally continues to work in the New Year. We also have renewed interest in financial shares. While we are overbought, the rallies had been small and are keeping us from...
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