Morning Thoughts November 18
With yesterday's selloff stocks and other risk assets came to important support levels. Yesterday's session came on good volume although not great volume…and the SPX found support at teh 50 sma. Some stop losses certainly triggered, the question is if that was enough for longs to get the upper hand again…we shall see. On the […]
very little to report
there's so little to report I might as well not write anything…which is essentially what i'm doing here… yes it's a risk off trade but note that support at the 50 sma on the SPX and the 1200 level isn't far away…not saying it will hold, just pointing out levels banks are holding up a […]
Why isn’t the Euro falling much more?
Here are a few reasons: u.s. yields are low potential qe3 in the u.s. european citizens repatriating money to meet margin requirements
They call it the ‘Pennant’ in the S&P 500
I've discussed this multiple times of late but it is worth repeating: technical levels, formations, and other charty stuff once it gets recognized by the mainstream financial media most likely won't work out in a classic way. So, if we consider the media attention the the current pennant/narrowing trading range/triangle…whatever you wanna call it…has gotten, […]
Morning Thoughts November 17
Santa's sleigh more ore less crashed in the last hour yesterday and overnight. So, that makes today's session potentially the most interesting/important one in almost one week. I shared the below chart of the pennant formation in the S&P 500 yesterday but it is worth pointing out again. Given the broad based media attention of […]
Gaps on either side of the market again this morning
After failing to fill either gap the past three days we again find ourselfes trying to wonder which one will fill this morning. Keep them on your radar as reference levels at the very least. Once filled they may serve as support/resistance for a while.
Portolio Update November 16
Bucket 2 Symbol Open D Direction Sectors Avg Entry Stop Target 1 Target 2 WYNN 31-Oct short cons cyc 133.13 141 128 as low as 90 Bucket 3 Symbol Open D Direction Sectors Avg Entry Stop Target 1 GDX 7-Nov […]
Morning Thoughts November 16
The resiliency of the stock market continued yesterday as a rally that started mid-day proved to be relentless and pushed stocks to finish higher on the day. That now leaves Santa-Rally hopefuls holding onto their mistletoe as major U.S. indices are on the verge of breaking near-term resistance areas. The caveat however is that just […]
Couple of important charts
Two charts just for a little perspective…respect the potential strength. We don't yet have any positions leaning that way but are watching closely. Semiconductors (SMH) look like they want to get frisky and jump over the resistance line and teh 200 day moving average. The Dow too is looking ready to pop.
AAPL still holding near $380
if this alpha animal ever ends up with a daily close below $380 (379 doesnt count), it may offer a good Bucket 2 short opportunity to around $365