Wrapping Up A Solid First Week
We are wrapping up the first week of the year. It's been a solid dance floor to swing on as our Bucket 2 positions in the Industrial sector (FDX, MMM) acted well. Our latest Bucket 2 starters from this week (FXE, SBUX, CROX) are still in the process of packing on the freshman 15 and […]
S&P 500 Close-Up Looksy
The S&P 500 continues to trade textbook, technically speaking. On the daily chart here see that the November low hit the 61.80% Fibonacci retracement of the June – September rally almost to the tick before bouncing sharply. Closer-up, on the 30 minute chart looking back to November 28th the same thing. This morning’s slide bumped […]
Two Industrial Stocks Into Year-End
In yesterday’s article I discussed the S&P 500 sectors performance and shed some light on the industrial sector, which I see as a potential outperformer into year-end. Today, let us look at one industrial stock to like and one to dislike into the last few trading weeks of 2012. Should stocks continue to drift higher […]
S&P 500 Close-Up Look
Last week the S&P 500 closed higher just marginally but the intra-week volatility was meaningful. Thursday’s rally found its match just a day later, which forced equities to close at the lows for the day. The 15 minute chart of the S&P 500 shows that on Friday the index retraced back to its breakout point […]
Don’t Trade On Pure Technicals The Coming Days
With the U.S. election just hours away I have received a dozen or so emails asking me how folks should trade the market these next few days. In short, unless you must trade by mandate or have in incurably itchy trading finger it might be best to just sit out and let the elections come […]
Morning Thoughts Sept 5
Yesterday’s first of the month session is done and over with and was followed with an equally whacky overnight session in the futures this morning. Politicians are back from their vacations and moving markets again in wild and choppy swings. From a pure price action point of view yesterday’s move was positive at the margin, […]
Morning Thoughts July 5
As an aside note, if anyone is interested in getting direct advisory from us please let me know. What we will do is execute the trades for you and/or we are available for active advisory all day. For the active investors this type of setup has many advantages. This doesn’t cost anything and your commissions […]
Morning Thoughts June 5
3 headlines that made some noise in PM yesterday were 1) S&P saying 1-In-3 chance of Greece exiting EuroZone (so somewhat negative) 2) ECB’s Coeure pointing to banks should have direct access to funds from EFSF and ESM (small +ve) and 3) chatter IMF head Lagarde is endorsing additional ECB easing at this week’s policy […]
Close-Up Chart of the S&P 500
You're looking at a four day chart of the S&P 500 futures contract (the S&P 500 itself looks exactly the same). Note the downtrend line in red, should we break through there nicely we will see 1290/1300 soon. Also note the still unfilled portion of the gap from Tuesday left below (blue zone)
Dollar Index Remains Better Bid
After consolidating abobe the 79 level for a while the index finally rallied hard the past two days and by so doing has decoupled its inverse relationship to stocks for now. It's important to keep watching, although at some point the inverse relationship is likely to resume. Whether the dollar index will come down or […]