We are apparently following Europe into the abyss — notice the serious southward bend in that five day moving average at this point (magenta dashed line). Meanwhile, a happy Labor Day to you all, especially those with the...
Read MoreThe week’s nascent recovery fell flat on its face on an awful jobs report and suit of 17 banks by the FHFA, leaving the S&P 500 (SPY) down -1.9%. While stocks are in early oversold stages, it will be...
Read MoreThe reaction this morning shows that the market has not fully discounted a bad jobs report and a double dip recession maybe back on the table. The only silver lining is that maybe this will push the Fed to act more aggressively...
Read MoreOne heck of a gap fill to the low SPY $118′s per last night’s newsletter. And yet, at the mid-day the SPY remains higher for the week! While price has been lateral since the reset, internals remain very weak —...
Read MoreThe bears struck after the big spike up on the ISM report. The action slowly stepped lower all day. While we are less overbought, I do not get the sense of panic in today’s profit taking. A number of economists from...
Read MoreCompletely flat lined. Looking at inter-markets for some more directional clues (note TLT >+1%). We are a bit overbought on the daily time frame with natural resistance just above, so risk would appear to be to downside at...
Read MoreDespite the bum’s rush in gold, the other precious metal – silver – has been lagging…..leading a number of advisory services to remark on this disparity and pound the table in favor of silver as the long...
Read MoreThe bulls managed a 4th day of upside on average but better-than-expected economic reports. Cracks appeared mid-morning and the bulls were able to save the close. Breadth was decent, but there were some notable...
Read MoreThis move has the SPY pushing well into it’s 23% Fibonacci extension and into the low end of prospective resistance zones. Financials and Energy have the SPY outpacing the QQQ and...
Read MoreThe XLF/TBT pair model has produced a nice equity curve during the recent market turmoil but now appears a bit overextended. Recent gains have pushed the curve well above the R Squared line and current signals...
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