Quick afternoon hit
So far today it’s just been a straight shot higher into the 1310 resistance area on the S&P 500. From a daily chart perspective yes this looks nice but headline risk remains large and with chairman Bernanke having a testimony tomorrow I am keeping my cash pile at 96% and looking to spend more time […]
What Kind Of A Market We May Expect This Summer
Over the past week I was asked numerous times what I foresee for stocks during the summer months. The question may be a little too forward to fully answer at this juncture, simply due to the fact that headline and rumor risks are at ultra high levels and that has the potential to shoot risk […]
S&P 500 Close-up Update
Just a quickie close-up look at the S&P 500 here. See the 60 minute chart below. After falling out of the bear flag on June 1st the index quickly fell 3% and found the bouncable bottom at 1267. As of this writing we have retraced exactly 61.8% of the move from the top of the […]