Bulls Pushing
It was a wild day as the early sell was sold and the eager buyers step in. We had a large pop in the final hour on the Europe bailout package news testing the Sunday night future high, but was later denied. It’s a mixed...
Read MoreAuthor: Jeff Pietsch
10.17.11 – Negative Internals
Somewhere between SPY $117-119 would be an interesting target in the days ahead, but so far the five-day moving average is holding (roughly $121.80-.90)…. Interesting post by Rob Hanna here...
Read MoreLine in the Sand
Note the red line on SPY daily bars…the SPY’s current level. The channel that has provided support and resistance since August has actually been reliable for traders..excepting a few gut wrenching days when it...
Read More“Jack Welch” Portfolio Algorithm
Jack Welch is one of the most recognizable names in business as the former CEO of General Electric. His skills and leadership in running one of the largest companies in the world have been the source of numerous books and case...
Read MoreTired Market?
The SPX 1220 area represented a confluence of resistance and stopped the rally since yesterday. The dip buyers are more aggressive and closed the market at the highs of the day. The market is still overbought so more...
Read More10.13.11 – S2 Holds In Spite of Negative Internals
Semi’s are propping up the S&P in-spite of major Finnie losses, preventing downside mo from taking firm hold.
Read MoreVXX-dicator – Part 2
Here’s the action in today’s first 20 minutes on the heels of yesterday’s surge. Shown on 2 minute bars note the VXX intersects yesterday at 12:15 (market BUY) and at 3:45 (market SELL). The...
Read More10.11.11 – Mixed Internals at Rally Highs
Next major resistance is all the way up at SPY $122. Maybe this is September 2010 all over again, but Operation Twist is not TARP my friends — I’d “like” to see a pause and higher lows before giving a...
Read MoreEarly Weakness in Copper
Overnight has shown some early weakness in copper, which had led the general market up in a fast spurt over the past four trading sessions. This weakness can be seen in the chart below as copper nears 3.2300 and a support line...
Read MoreFollow Thru on Lighter Volume
The indices were up big and breadth was extremely strong but volume was the lightest in a month. We captured the 50day today and now approaching upper level resistance at 1195-1204, with 1220-1230 as the major resistance...
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