The huge market rally we saw in September was helped along by an almost totally collapsing US Dollar Index. Now the US Dollar finds itself right on a supporting range and also at a deeply oversold RSI (Relative Strength Index) level. This is important because if we are to expect the stock market to start … Read more
I just jumped over to see what Bill McLaren’s thoughts are on the market. I guess he occasionally does CNBC gigs with technical analysis updates. I don’t quite know his method but I think he uses Gann and Fibonacci studies and volume as well. Apparently this can help give him precise dates for potential moves. … Read more
Yesterday I issued a ‘BOT Short’ signal. If yesterday was a ‘probe’ short then today does not seem to be providing the confirmation I was looking for. There is always the risk that we are in a running correction and that we will blast higher Monday as seems to be typically the case in this … Read more
I may be a bit early but I went short the market just now. Things look a bit toppy and so far the reversal looks quite convincing. I went long the VXX 17 October Calls and also the TZA ETF just now. I am officially re activating the BOT short signal right now. The volume … Read more
I just completed a brief volume analysis of the SPY ETF since the April 2010 top. It helps provide some more clarity to the market phases since that time. I have to admit that the current volume picture of the SPY ETF is not very encouraging for a continued advance. The PRICE advance in the … Read more
Today was an inside day in the sp500. The price range was small and the market was not hinting at any big moves in either direction. The last four days appears to be a simple pause in the uptrend. Tomorrow if we are able to hold 1140 or higher then I have to presume that … Read more
I have written about VKNG Viking Systems Inc several times already and indicated that I would accumulate the stock after the gap up that occurred on 9/8/2010. At that time I was unsure if VKNG would fill the large opening gap or not. So far it has not filled the gap and has instead shown … Read more
The NDX 100 appears to be coming close to completion of the large head and shoulders bottom formation identified in previous months here at BestOnlineTrades.com. The current September monthly candlestick on the NDX 100 looks very strong. In fact it is the strongest monthly candlestick going back several years. It is still unclear to me … Read more
Most of the time when I write about the gold price it has to do with near term and intermediate term timing. Recently I indicated that gold needed to break out north out of its rising wedge formation in order to maintain a stronger bullish stance. This has clearly happened and gold continues to surge … Read more
I feel as though I am becoming a bit overconfident with some of my latest market calls. I need a gut check and a reality check. Since identifying the major market low in late August 2010 (here and here) with volume analysis which then led to one of the greatest September rallies in the history … Read more