Today I give the bears 4 out of 5 stars. I think it can be said with a reasonable degree of confidence that they got the job done and done well. On the other hand, given the bearish news today, I would have thought a 5% down day would have been more appropriate. After the … Read more
I wanted bring up the TLT chart quickly again just to make a quick point. I mentioned before about how the TLT ETF moved into the power zone above the 70 level last week and that this could correlate with a very hard down move in the stock market. Anytime any stock or index gets … Read more
The stock market right now is not looking constructive. It appears now that an aggressive move back to the top of the swing trading range of the last few months is not going to happen. In fact it looks like we are about to break the bottom of this very long and significant swing trading … Read more
The Semiconductor HOLDRs SMH ETF today confirmed an MACD Histogram buy signal. In previous posts I have been looking for yet another move in the broad market higher as a bounce from the bottom of the recent swing trading range. The other indices have as of yet not confirmed an MACD Histogram buy signal but … Read more
The market decided to curl back up into the swing trading range as predicted yesterday. Volume was lousy today on the upside. Still, price closed higher and managed to hold most of the gains. There is a bullish triple P setup right now on the MACD histogram versus the SPY ETF. It is still an … Read more
By all current appearances we seem to be stuck in typical lazy August trading in the SPY ETF. The volume today looks to be quite lame and typical of this time of year and makes it hard to speak with any conviction about the next big trend. Instead of conviction, the SPY continues to trade … Read more
The current structure of the Financial Select Sector SPDR ETF bears a similar resemblance to the SPDR S&P 500 ETF price chart in a different time frame. If you look at the 1998 time period for the SPY you can see that it had a similar ‘domed house’ top and then a sideways rectangle formation … Read more
In a previous post on the Semiconductor HOLDRs ETF I indicated that it looked like it was about to break down in an A B C style decline. It has already broken the uptrend since July 1, 2010 and today is breaking down again on what appears will be a very heavy volume day maybe … Read more
The SPDR S&P 500 ETF has still not after 6 full trading days managed to break above or test the 113.20 swing high which was on 212 million shares back on 6/21/2010. Today the volume on the SPDR S&P 500 ETF was only 118 million shares. We basically have traded sideways in a rectangle formation … Read more
A while back I did a very bearish sounding post on the spot gold price. My main points for making the longer term bearish case were based on a weekly bearish divergence, a break of the long term uptrendline and at least the potential of a monthly MACD bearish cross down the road. Looking at … Read more