We have had a huge huge move from the early October 2011 lows. We have come too far too fast and are due for a t least a one day pull back or a decline into end of this week to consolidate some of the gains. The ultimate accomplishment for the sp500 is to be … Read more
The sp500 in the recent several days has staged a large rally. Friday’s move was more of a consolidation doji and in my view was constructive relative to previous moves at channel resistance. Considering the large previous 3 day rally we had and the fact that Friday’s move barely gave any of it back, I … Read more
I really wonder if tomorrow we will see a limit down day to end the quarter on the sp500. Perhaps it is wishful thinking, perhaps not, but this market appears to be on weak foundations and I suspect these endless end of day rallies are orchestrated by the big players so that they can unload … Read more
The market continues to play head games with the news and continues to swing around in both directions. We are still clinging onto support, but I have to go with the short side of the market now, especially if we close weak today. The market keeps bouncing up and down and changes bullish scenarios to … Read more
The sp500 is looking quite bullish as we go into the end of month and end of quarter window dressing time frame. It is looking like ‘they’ will squeeze this market right up into the end of quarter. Depending on how high they squeeze it, we could see some dramatic improvement on the longer term … Read more
The bearishness in the market today was completely rejected. I am switching to BOT long signal on sp500 at the open tomorrow. I have re evaluated the price charts and am coming to the conclusion that the mini bear may be over for now. I am starting to consider the possibility that the market may … Read more
Look at the picture below, this is what this market feels like right now to me (photo from the American Ninja Stock Market Warrior Series). I feel like we are hanging right on the edge of a very steep cliff right now. There is a Pesavento index day on Monday which can lead to accelerated … Read more
The market sold off hard today but is still above the August 9, 2011 swing low. I suspect that tomorrow we may get a a modest bounce or an inside trading day but then maybe weakness again near the end of the day. At this time I do not believe the August 9, 2011 swing … Read more
Today’s action was the clincher. The charts up until 2:15pm today were lined up for a big drop and that is exactly what happened irrespective of the Fed nonsense. I understand trader’s fear of the Fed and not to fight the Fed, but the charts today were so nicely lined up for a drop, and … Read more
Since this mini – bear has started in late July the stochastic short term trading indicator has issued three very reliable sell signals and led to major downside price action in the sp500. The stochastic has been good so far as a sell signal after it has traded ABOVE the 80 percentile line and then … Read more