Author: Jeff Pietsch
Bears coming out of Hibernation
We were hitting new lows in the early afternoon when some surprise news on capital requirement for banks spiked the market. The bounce was crushed by the 3 p.m. sellers again. We are certainly oversold again after...
Read More06.10.11 – New Lows
Price appears to be stabilizing near R2 at the mid-day and for now I’m glad to see VIX coming in, but so much for a multi-day bounce (a major change in behavior), internals have been particularly weak, and the March Lows/...
Read MoreJack be Nimble
Today was a strong day until the close. We came close to the 130.15 resistance level from a couple of days back which happen to coincide with r2 on the floor trader pivots. A bounce is a bounce, but so far it...
Read More06.09.11 – VIX Down Seven Percent
Nice bounce (finally) lifting off the pivot all the way to SPY R2. With lots of technical headroom above, I’d put a next upside target near $131 in the days ahead, but you’d better believe I’ll be trailing...
Read MoreXLB and GDX Lead
Almost midday and we’re seeing early gains hold…a reversal of previous days’ fade pattern. Not surprisingly, XLB and GDX are the leaders today following yesterday’s dramatic collapse. As...
Read MoreWhere is the Wash out? TXN
Technology and semi-conductor stocks were hammered, perhaps in anticipation of a guide down from TXN after hours. The bulls have not managed an up day in June and the dripping correction continues. We are two more...
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