On May 5th the top of the large 15 point up-gap from April 20th was tested but never attempted a fill. Last week Wednesday, Thursday and Friday the tape again felt heavier. We are thinking that should this April 20th gap again get tested it could then have a good chance of filling. If the […]
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It's still a difficult call here. Are the financials bottoming or just getting going to the downside. GS yesterday broke out to the upside, albeit modestly so. And BAC rallied off the day's lows to leave a bullish looking formation. However, one day does not a trend make..we need further confirmation.
The NDX seems to have touched resistane (see chart below). Should it break up it could reach 2007 highs. Technically speaking this formation looks to me like an inverse head and shoulder pattern.
Good morning folks Hope everyone had a great weekend and is ready for the beginning of earnings season. In overnight action so far equity futures are up around 1/3 of a percent, silver up, gold and most of all oil are down. I sent out the weekly newsletter late last night. Sign up here if […]
Are The Bears to Scared To Bounce? Just look at the simple chart of the S&P500 (SPY) below. The fact remains that every single dip got bought more aggressively than the last one over the past . After so many slaps to the head do you think the bears might just be a little shy to […]
Good morning and happy Friday! After a fairly flat broader tape yesterday, we rise this morning to most things, dollar and treasuries aside, trading at higher prices. The Euro continues its astonishing rally on the back of the rate-hike the other day. Gold, silver, oil, and stocks are all up solidly ahead of what looks […]
Apollo (APOL) Group Setting Up For A Buy. APOL has been on my radar for several months now. After the big earnings drop in October I had sold calls and collected nice premium when shortly thereafter the volatility came crashing down and the stock paddled sideways for a while. Now the setup is much different: […]
Russell 2000 Makes 2 Year High It was the last of the major indices to make a new 2 year highs the past few trading days. . .today it did. And with this the market again proves just about everyone wrong as many called for the mid and large cap and technology stocks' lagging […]