The market got a reversal going today but it was somewhat sloppy. The signal I was hoping to get from the SMH Semiconductor HOLDRs (ETF) did not really transpire. The SMH got a pretty strong looking reversal hammer today but for it to be confirmed it must close above 27.45 tomorrow, otherwise it could be … Read more
In a previous post on the Semiconductor HOLDRs ETF I indicated that it looked like it was about to break down in an A B C style decline. It has already broken the uptrend since July 1, 2010 and today is breaking down again on what appears will be a very heavy volume day maybe … Read more
SkyPeople Fruit Juice, Inc is a Kiwi and other specialty fruit juice maker out of China. It is expanding distribution and there seems to be a developing growth story here. The chart of SPU shows that SkyPeople Fruit Juice, Inc has busted out of a somewhat large coil and now headed higher into a new … Read more
The SPDR S&P 500 ETF has still not after 6 full trading days managed to break above or test the 113.20 swing high which was on 212 million shares back on 6/21/2010. Today the volume on the SPDR S&P 500 ETF was only 118 million shares. We basically have traded sideways in a rectangle formation … Read more
The German DAX index closed at a new 52 week high today. This is important. It should be telling us something. It is telling us that bearish fumes are evaporating quickly now as we move well into the second half of 2010 and that bulls may want to start running again as the consumer comes … Read more
The Jakarta Composite is trading at lifetime highs in what I consider to be one of the most amazing stock market recoveries I have ever seen. I am posting this chart just to show that sometimes the ‘unthinkable’ can and does happen. Looking at the chart below near the early 2009 lows it probably seemed … Read more
The more I think about the most probable trading setups, the more I think that position trading is probably the most potentially profitable way to go because it allows you to participate in trends and ‘ride the bull’ so to speak instead of constantly pulling your hair out worrying about every little price tick. Position … Read more
A buddy of mine sent me this link a while back which has real time free futures charts. This is a great way to keep track of the SPX500 futures on Sunday night or in the early morning before the regular market open. I think a lot of people rely on CNBC or other major … Read more
That is not my forecast. I believe it is the forecast of David Bensimon with Polar Pacific Capital. Apparently he has made some great calls on the market, gold and other commodities such as crude oil. I am not quite sure of his method but it appears to involve the use of Fibonacci and time … Read more
In case you have not seen it before, here again is the Gold price 34 year seasonal price chart. A very timely chart right now as we are into the first week of August. Sometimes it is easy to forget that the gold price can move very fast seemingly out of nowhere. September is really … Read more