$SPY did the inverted head and shoulder pattern as I explained in yesterday’s Fuinhaz $SPY afternoon update for July 9, 2012. Today we have a follow through that will caught many shorts and some bulls kind of late....
Read MorePre-market update (updated 9:00am eastern): European markets are 0.7% higher. Asian markets sold off an additional -0.4% today. US Markets are slightly higher heading into the open. Economic reports due out (all times are...
Read MoreConfused Market: More dojis with long wicks, this seems to be the trend these days, with neither bull nor bear winning. Although an edge has to be given to the bulls, as once again they were able to defend the 134.85 key support...
Read MoreThe Chart of the Day… Quick Glance at the Market Heat Map and Industries Notables: Quite a mix bag across the board – energy still showing a lot of weakness today – particularly in the bigger names. Healthcare...
Read MoreI’ve actually, while typing out this post, added one of the names on the list (yes these are legitimate setups unlike a lot of websites out there) as the setup looks solid and the market seemed interested in putting in a...
Read More$SPY in my interpretation doing an invert head and shoulder on a 3 mind chart. I do think we will have an end of day run back to 135.39 level. We did hold well the 134.80 (20ma) level today so I am looking for a relief rally,...
Read MoreI took the trade in Pharmaclyclics (PCYC) this morning – as it appeared in my scan as having higher than normal volume in the AM. Having traded and watched it quite a bit of late, this is one of those trades, where I saw...
Read More$SPY opening flat after last Friday’s sell off. I personally don’t think this sell-off is over, but may get some relief today. The idea today is to watch the pivot points (resistance and support levels). One other...
Read MoreI have been updating the SPX long-term count in the weekly posts, but before I leave for the summer holidays I wanted to review my preferred scenario. Very long-term trend is sideways/down: From the 2000 Top price is unfolding a...
Read MoreI’m on holiday in Spain for a few days and the place I’m staying is just beautiful. The scenery is lovely, the hotel is nice, the food is great, and the internet access is terrible. I can get internet access in only...
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