Have you ever walked on a frozen pond before? Do you remember how you walked very carefully over it and then probably stepped very lightly on the ice to ‘test it’ to be sure that it was solid enough to keep walking further? Well we may be close to a similar process in the DJIA. … Read more
I have been reviewing the long term quarterly charts of the Dow Jones Industrial Average in the current decade and the decade of the 1970’s. The 1970 period has provided me with some enormous cutting edge clues as to our current long term outlook. The structures are not exactly the same and one should never … Read more
Today was a clear sign of strength in the sp500. Today we printed a marubozu candlestick on the daily chart which is a clear sign of who is in control of the tape. There was almost zero bottoming tail and almost zero topping tail on today’s candlestick. Signs of strength are great, but they still … Read more
Today the US Dollar Index made a key break down below key 3 year support range. I wrote about the dollar index yesterday indicating that I expected weakness into November 2010 and a possible break of support. I did not expect this break to occur the next day, but this is how it looks today. … Read more
Today the Dow Jones Industrial Average accomplished a key milestone. It broke back above and into the very important resistance range that has defined a top for the DJIA several times before. If the DJIA is able to hold a weekly, monthly and then quarterly price breakout into this range, then it implies that the … Read more
The Nasdaq 100 Index appears to be on a mission towards the 2223 to 2239 level which is a key level of resistance and is likely to cause some type of downside reaction. We could get there as early as mid November 2010 or perhaps a bit later. I think it is clear at this … Read more
It seems pretty clear at this point that the Fed does not have a number one priority of supporting the US Dollar. Today the dollar took another huge hit and seems to confirm the new theory I am now operating under that the recent bounce in the dollar index was a dead cat bounce and … Read more
The sp500 today continues to power higher on seemingly endless amounts of good news. A buy signal was confirmed based on the MACD histogram today as we closed above yesterday’s high. Volume ticked up today as well on the SPY ETF. It appears now as though the sp500 is on a mission for 1219.80 which … Read more
I am switching to a BOT Long Signal now on the sp500 at a level of 1194. It is still 2 hours before the close but this is looking like we are going to get a close above the recent range I alluded to yesterday. I also indicated that the most important indicator we need … Read more
I think China Agritech Inc. CAGC is a good trading stock. It falls in the small cap category, is in an industry (agriculture) with very promising long term potential, has a low float, and plenty of investor and trader interest. It is also ‘good’ in the sense that it is not trading at 300 dollars … Read more