Greece, Earning Worries, FNSR
The gap-down open this morning and the poor Empire State Manufacturing Survey caught bulls by surprise. The continuous negative news about Greece kept the pressure on all day. Â Volume was higher than what...
Read MoreAuthor: Jeff Pietsch
Fade Dollar Strength?
“Today’s big U.S. Dollar move versus the Euro on the threat of French bank downgrades and riots in the streets of Greece has me thinking about the currencies’ respective...
Read More06.15.11 – VIX Breaks 20…
…however, it’s reeling back in a bit along with relative volume at the mid-day after a small flush. The AD is about as weak as it was strong yesterday, quite a whip. Note the 200-day SMA...
Read MoreThe Mighty Have Fallen – QQQ Breaches 200-Day SMA
Violence in Greece and prospective French Bank downgrades has set up a second test and breach of the two-hundred day moving average for the QQQ with the other majors setting up similarly as the VIX breaks 20 and the US Dollar...
Read MoreNo Conviction from the Bulls
A decent oversold bounce finally kicked in today, but volume was light and the sell off in the final hour of trading continued. I think I read today marks the 10th consecutive day where we sold off late in the day this...
Read MoreTime for a Pause?
Coming into the last 30 minutes momentum is slowing considerably as the material ETFs struggle to hold their gains. Note that the Volume BUZZ has been fairly anemic all day in all sectors and the major indices in the...
Read More06.14.11 – Trend Day to $129.50
A nice gap and run on “less worse than expected” economic reports has us up to SPY $129.50 resistance at the falling ten-day. Normally, I’d expect that to crack on such strong internals, but will keep an eye on...
Read MoreBulls Lack Energy
We opened positive and drifted lower in the morning. We managed a popped higher on some chatter about new jobs initiatives but again closed weak. The Chinese internet names had being one of the hardest hit areas in...
Read MoreThe Line in the Sand
I was chatting with Jeff (Mrkt_Rwnd) today and we both had noticed the convergence of the SPY around some interesting price areas — an area I’m now calling “The Line in the Sand.” These price areas...
Read MoreETF Rewind – Week 23 (06.10.11) | Cracked!
In a break with behavior from the last two years, US Equities were unable to build on a Thursday reversal attempt, registering a sixth consecutive week of declines, the longest downhill run since the dot.com bust, leaving the...
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