The price is coiling up and down in the wedge/ pennant that is forming.
After a major bull run where is the correction? I was hoping for a 5% to 10% downside… but it never happened as of today. The fact is not only we didn’t see a correction we are seeing a new pattern emerge in the last few days of trading. This is a classic textbook example […]
After a three week non stop binge to the upside the market has finally corrected -for the relief of those who were getting tired every morning waking up and finding a new high never set before. It sounded like a broken record. The media was on fire. SPX, RUT, NDX and everthing else kept moving […]
Relentless market action to the upside continues. There is no rest, respite or stop. The whole market has gone into what Greenspan would call it ” Irrational exuberance” and this time some more. Everyday the bullish action continues. Financial liquidity pumped by the Feds has unhinged any inhibitions and the market does not cares if […]
The market is logging in new highs everyday and everyday non stop. All the indexes have been up in a sustained bullish action over the past week since May 3 unemployment report which gave a reason to become euphoric for a few weeks. The unemployment numbers were good and the previous old low numbers were […]
In the daily saga of of one day down and another day up we are back to the 1598 highs and now may be trying to break the 1600 barrier. Most of the market was bouyed because of ECB rate cut and other good news. Indexes had a nice up day RUT retraced 68.1 % […]
Today we saw big engulfing candles on SPX after a relentless climb for the last two weeks. The action is quite familiar as in the past. The transports IYT and broad market RUT were showing weaknesses all along this week. Sooner or later it caught up with SPX and some folks decided to take profits […]