06.08.11 – Struggling for Direction
Market prices are struggling mightily on net negative internals. Semi’s/SMH are getting hit especially hard while Oil/USO is sitting at plus 2.6%….
Read MoreAuthor: Jeff Pietsch
Lack of Confidence
For the fifth straight day, after 5 down weeks, the bulls let us down again at the close. The market was in positive territory most of the day but closed poorly after Fed Chairman Ben Bernanke didn’t offer anything...
Read MoreApple ICloud, WARM, and Bounce
This is the first major correction in a long while so we will probably need to give it some room to play out. There are some complaints that the vix and volume were not jumpy enough, but the contrarian in me says...
Read MoreETF Rewind – Week 22 (06.03.11) | 5 for 5
US Equities registered their fifth consecutive week of declines, apparently the longest downhill run since 2004, leaving the S&P 500 (SPY) another -1.9% in the red. Looking closely at short-term oversold/ overbought status...
Read MoreIpad Revolution, Smart Phone and Soft Patch
Another above average volume sell off on the back of a lousy jobs number has the bears excited. Beyond the initial bounce this morning, traders did not want to do much over the weekend. Even the VIX was not jumpy on...
Read More06.03.11 – Fade the Jobs Open…
Price got its ‘traditional’ job’s day reversal, but the largish gap has relatively low odds of complete closure, which get even worse for holds through the close according to the ETF Rewind Gap tab. While we...
Read MoreFriday Slow Grind
90 minutes in today and gap traders were licking their chops…although a timely exit may be in order. Volume Buzz evident on XLB and XLE…and SPY. As usual, to confound traders and scare the children, VIX...
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