The chart of the German DAX was always the chart that has kept me skeptical about a ‘super bear’ in our own markets. During all the volatility between April to July 2010, the DAX was always just consolidating and very resistant to breaking down. This was a huge red flag to those that were looking … Read more
The SPDR S&P 500 ETF may have a shot at making it back up to the April 2010 highs if it can climb above key resistance late this week or early next week. Key resistance on the SPDR S&P 500 ETF is 113.20 The pattern in the SPY since mid June is taking the shape … Read more
A comment poster (RiceToaster) asked me whether Bruker Corporation BRKR has any more potential upside to it. I looked at the chart and thought it was worthwhile to do a write up on it. The long term monthly chart is very interesting because to a large degree it looks very similar to the Nasdaq or … Read more
I did a write up on DryShips Inc DRYS triple bottom a couple weeks ago at a price of 4.06 indicating that it could get a move towards 5. So far since that posting it has been up as much as 18% hitting a high of 4.79. It has been trending higher strongly and I … Read more
I went long Neurocrine Biosciences, Inc today at 6.07 with a protective stop at 5.70. I was going to wait for a retest after a breakout but the robust volume today (so far at least) and the push forward into the 6 range combined with favorable oscillators and other factors made me take the plunge … Read more
I continue to watch NBIX like a hawk because it has what I consider to be both long term, intermediate term, and short term favorable technical analysis characteristics. I did a short write up on Neurocrine Biosciences Inc before and this is the second follow up. The ‘moment of truth’ for any stock, bond, index, … Read more
It really does look again today from today’s stock market action that the future tape into the end of this year is going to be quite bullish. The XLF looks like it is projecting a move to near the April 2010 highs. The broad market should at some point get to a challenge of the … Read more
Here is another quick look at the 2010 and 1987 stock market crash comparison charts again. This time I have also plotted the DEMA smoothed MACD on both time frames which tends to give 1 to 5 day earlier sell signals as compared to the regular MACD. Right now the DEMA smoothed MACD is inches … Read more
It looks like the 1112 level on a closing basis is the maximum allowable upside move we can see in the sp500 that would still keep the bearish case alive. According to the chart plotted below there are really only 3 days left for a resolution from this recent congestion area. So this means at … Read more
The market action today was definitely not very bear inspiring. I have to be honest and say it was actually quite bullish looking on a short term basis. We had the opening gap down near the July 1, 2010 up trendline and then a reversal to close higher on the day. This was somewhat similar … Read more