Despite the bleak debt-ceiling negotiations conveyed by President Obama last night, the market held up fairly well today with technology leading. Again the close was weak and breadth was much poorer than the indices indicated...
Read MoreAn hourly chart of the Lazy Man 5 illustrates the pervasive chop in SPY and the other LM components. 90 minutes before the close and some modest positive momentum is evident although the NYAD is only .72 and the DOW is...
Read MorePrice is oscillating around the as yet rising five-day moving average (magenta dashed line). Accumulative tick is positive, but other internals are flat or net...
Read MoreThe consensus seems to be that the debt ceiling will be raised in time and we are just waiting on the details of the deal. That belief gave the buyers confidence early in trading but worries about a USA credit rating down...
Read MoreAnd the QQQ’s are already there. The up move is running contrary to internals, which remain negative albeit ever so slightly improved, as well as a persistently higher VIX reading (+9%). One or the other has...
Read MoreLast week I mentioned the Strategy Matrix as a means to gain a thumbnail perspective on real time momentum in TBT. I’ve updated the systems from 12 to 14 and and focused on TLT for this morning’s look into the...
Read MoreWeek Twenty-Nine provided a nice snap-back rally, leaving the S&P 500 (SPY) higher by +2.2%. That same move; however, left short-term technicals slightly overbought, setting price up for the Friday after-the-bell...
Read MoreThe Teflon-market action continues as the SPY held on to yesterday’s big gain and the QQQ quietly notches a new 2011 high. Given the risk of negative headline news over the weekend, the market did very well...
Read MoreVolatility has taken another 2% hit at the mid-day as we settle into sideways action (add: excepting the Qs, which are rising nicely). Price is somewhat overbought, but there is still room above until technical resistance levels...
Read MoreTBT doesn’t normally cause heart palpitations but Thursday it dropped 1.5% in 5 minutes before rebounding back to parity in another 5 minutes on equal big volume bars. TLT was the exact opposite action. And you...
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