Quick Mid-Day Update
It's more or less the 6th day in a row now where equities open higher and just do the sideways shuffle. It's boring and not worth trading. For bucket 1 we still think today-s up-gap may fill..i.e. to the closing levels from last Friday, in the S&P 500. Transports, the oil services, oil itself, and […]
The Transports – A Chart To Watch
The transports are often a leading indicator we focus on. Right now they are at resistance of the 200 simple moving average as indicated by the IYT etf. A solid move above there, coupled with a lower dollar should pop equties higher still.
Correlation whaaat?
S&P At 50% Retracement…Potential Resistance
Perspectives After A Tough Day In The Markets
To see the entire article become a Premium Subscriber here: http://steadytrader.wpengine.com/members-area/ Yesterday’s battle left much blood on the streets and it is exactly because of days like yesterday that we a) trade/invest in multiple time-frames and b) are open to entirely change our outlook each and every day if need be. Less flexible, stubborn…heck I’ll […]
Clues To A Further Market Rally Could Be In The Financials
After speaking about the XBD to several people the past two days it dawned on me that there may be a misconception about what the components of this index are. As the name of the index indicates, it focuses on broker/dealers…and that does not include banks like JPMorgan for example. For starters, here are […]
Copper At Potential Support Level
Copper just bolted down to its 200 day moving average (red line), which could act as a level of support, if only for a bounce. Watch it here because if it jumps higher that could also be a positive for stocks.
Initial Signs Of A Longer Dollar Rally
I know I know, a 1% up-move in the dollar index and people are getting all dollar bullish again. Our job here is to look for clues and remain impartial and vigilant as we meander through this jungle calle the market. One of the clues I tend to look for are key reversal signals using […]
One Chart To Sum It All Up
The thing to remember about today's trade is that A) the world is interconnected by the banks and derivatives and B) that many more institutions and individuals these days own multiple asset classes. Regarding point A, this means that the mortgage default in Florida affects a Swedish bank as much as it could affect […]
Today’s pre-market video is uploaded and ready to watch here:
http://steadytrader.wpengine.com/video-2/april-2011-2/