Looking for Confirmation
Checking the hourly bar chart of the Lazy Man 5 it was a strong day…kinda…although Volume BUZZ was not confirming. These low volume melt ups can continue for some time without...
Read MoreAuthor: Jeff Pietsch
Side Way Chop before FOMC
A weak open attracted buyers for a third day of a mild oversold bounce. The market made it back to the highs on Friday and it is holding above the 200-day simple moving average. Â AAPL had a convincing break down...
Read More06.20.11 — Up Off the 200-Day Mat?
The S&P500 opened up right on its 200-day EMA, where it had 70% chances of closing the lap down according to the ETF Rewind Pro “Gap Tabâ€, as follows: Since then, price action has met that...
Read MoreETF Rewind – Week 24 06.18.11 | Snap-Back R(e)ally?
I can only chuckle at major media outlets playing up the “break in declines” this week with what, volatility not seen in several month’s time and the S&P 500 (SPY) up a whole +0.1%? Define...
Read MoreBreaking the Streak
A 6 week loosing streak sort of comes to an end with a tiny up week close. Seven straight down weeks has happened only once since 1928. Technology is now squarely in the red for the year (closing...
Read MoreFear and Loathing with VIX
Just to show typical expiration market manipulation, here are concurrent 2 minute charts of the VIX and NYAD highlighting the afternoon VIX poop and scoop that provided a true Prozac moment for more than a few traders. The...
Read MoreFeeeeling Bullish?
The afternoon sell-off started early and the bulls had enough time to pull off a decent bounce going into the close. Quite a few stocks, like Apple, were hitting fresh lows before bouncing back sharply. The bulls showed...
Read More06.16.11 – Tentative Start Indeed
BZB Trader was the early bird poster on ETF Prophet today, discussing the tentative nature of the opening bounce. Internals are mildly positive, but trending flat and the VIX has yet to settle down in line with mid-day...
Read MoreFragile Start
OK trader buddies.. let’s check the action 90 minutes in today………. I’ve been a bit under the weather…worried about Hef and wondering if (at his age) he’ll ever find true love again...
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