We are seeing strong price resiliency with natural price support holding thus far beneath the falling VWAP. Accumulative tick is somewhat weak, so I’m nevertheless watching for a possible change of character very...
Read MoreGlobal action by central banks and China ‘s reduction in bank reserve ratio caught bears by surprise after the S&P bank downgrade after hour yesterday. The squeeze was on all day especially in the final 30 minutes of...
Read MoreInternals likewise retain trend-day status, although, as colleague Bill Luby points out, the VIX has remained curiously high relative to the move in price. Also of note, the subject at-risk sovereign bond yields have hardly...
Read MoreIt was a choppy day with S&P acting better but failed at the 50 day moving average. The NASDAQ and Russell struggled with oil, commodities and retail leading. The better-than-expected consumer confidence numbers this morning...
Read MoreLarge-cap tech is trading well below the broader S&P, that can’t hold forever. Internals remain in range-day mode for the time being,...
Read MoreHere’s a few more details on the use of the TrendX indicator…shown here on the Qs….an index not known for easy technical analysis. Note the position of the vertical marker line on the chart at Oct....
Read MoreTraders seek to find the next BIG think ala Apple, Bidu and co. Often times this desire is founded by the underlying assumption that taking higher risk is rewarded with higher returns. Furthermore many traders believe in an...
Read MoreThe oversold bounce finally came with authority; backed up by some good news catalyst. There was no doubt this morning that the bulls came to play with better retail news and another potential Europe solution. Breadth was...
Read MoreBeing old and feeble I tend to be a myopic trader, focusing on just a few issues… and regular readers know GDX one of my core interests. My early November post on GDX noted its penetration of resistance at $63 and since...
Read MoreNote support at $119.40, then at $118.80. Also, a nice large gap study by Rob Hanna —...
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