The S & P 500 powered down with volume today.. Quite heavy volume too. A test of 1163 is starting to look like a very good possibility now and would at least open up the possiblity of that reverse head and shoulders pattern setup I mentioned in an earlier posting. After looking more carefully at … Read more
We are about to see some fireworks in the Gold market in July August and September and likely October, November and December as well. Gold during the last 6 to 9 months has been an absolute SLEEPER in terms of price action. Small price ranges, slow price movement and BORING price action. But behind the … Read more
I am still open to the possibility of a reverse head and shoulders pattern being created on the S & P 500 index. Today we declined on big volume from the highs and makes me think my previous article of ‘summer doldrums’ could be kicking into effect thereby delaying the big upwards breakout in the … Read more
Whether you are a beginning trader just starting to get the feel for the business and making your first trade, or an experienced pro unfazed by anything the market throws at you, chances are that you are still susceptible to the emotional highs and lows of your day to day or month to month trading … Read more
The one thing I forgot to mention in my previous post regarding the S&P 500 breaking to new highs was that we cannot rule out a delay of the breakout due to ‘low volume summer trading’ ! The low volume factor was ignored however on June 17th. And it was a Friday at that! So … Read more
The rising price of crude oil to date has had a somewhat limited affect on the economy ( so far) but my overall analysis of the crude oil chart says to me that there is still plenty of bullish potential for the intermediate and longer term time frames. Certainly it seems somewhat odd that the … Read more
The S & P 500 will break to new all time highs. I have no doubt in my mind as of June 20th 2005 that the S&P 500 will eventually break out to new all time highs and likely head for a test of the next swing point of May 22nd 2001. We saw very … Read more
Option Trading in Merck? I have been watching Merck (MRK) since yesterday. As you probably already know, Merck stock had a massive sell off in October 2004 related to the recall of one its blockbuster drugs. Since that time the stock has been undergoing somewhat of a consolidation from that huge volume washout. It is … Read more
Here are a couple of charts on the 30 year T Bond Futures. Steven J Williams who graciously allowed me to repost his ‘ Is a US Bond Crash Coming ‘ article makes a compelling case that we may eventually see a US T Bond Crash, maybe in 2005? At the Brink of a Break … Read more
A reasonably good case can be made that Gold Futures are at a major juncture here. I made a few points that supported this possibility in a previous post. Perhaps relying on the monthly MACD is somewhat simplistic. But you would be surprised how accurate this one simple indicator can be in picking major tops … Read more