The SP500 is looking quite tired lately. The fact that the market did not get a huge upside run today on the super bullish AAPL news is at least a little bit concerning. The market may be getting tired here and ready to set up a negative weekly price close going into Friday of … Read more
Oil looks bullish to me lately and BQI, an oilsands stock seems to be in the early stages of a run. It has broken out of a very large symmetrical triangle pattern of almost 1 full year duration on high volume and wide price bar spread showing a sign of strength. So we are dealing … Read more
I need to set the record straight. Two previous stocks I mentioned here at BestOnlineTrades, TA Travel Centers of America and NCT NewCastle Investment Corp were originally identifed by a man named Stephen R Stewart. I forget how I found his chart list but you can see his listing of charts over at his public … Read more
I continue to believe that it is a mistake to even THINK of going short until we start to see some early signs of a bearish weekly MACD downward cross. At least up until last Friday, the weekly MACD has not moved into such a stance yet. It is going to take price closings on … Read more
Today was one of those days that I would have thought had the potential to be really bearish. The GE and Bank of America ‘bad news’ really should have been the bears chance to take the DJIA down 200 to 250 points and close at the lows. But once again the bears failed to do … Read more
The US Dollar Index keeps drifting downward as if it is on some sort of mission. Clearly this has helped the broad market keep going UP as well as gold. The popular story line on the US Dollar Index right now is that sentiment wise there are too many bears and hardly any bulls. From … Read more
Is it possible to prepare for a trade 5 or 10 years ahead of time? It almost seems absurd to even think a few months out sometimes in the trading biz because of the constantly changing variables. This is true for many individual stocks, but for larger markets and indices I like to try to … Read more
Once again the bulls completely own the show and gapped the market up today and closed very strong and on pretty healthy volume at least compared to what we were seeing before. I once again refer you to this chart of the SP500 that shows we still have some time left before we actually hit … Read more
So much for the short term sell signal on the SPY. The Intel earnings are likely to blast the market higher tomorrow. It will be interesting to see if they are able to close the market at a new high or if the rally gets sold off by end of day for a price bar … Read more
You might have to start calling me ‘flip flop Tom’ or something similar but I gotta tell you the recent action is not too encouraging from a near term perspective at least based on price and volume. Yes it is true that I don’t believe the real correction will get under way until we break … Read more