Tuesday, September 26th, 2017

Ben Bernanke spoke after hours not to unsettle traders, but the futures traders reacted overnight while you and I were in lala land and pushed them high enough to gap the market double digits in the morning. This has been the story all along this rapid climb in the last few weeks. Bernanke said that […]

Happy 4th of July ! I know most people are on vacation or have been on vacation since Wednesday for this week. The market was closed on July 4th but on this Friday it did open full day and we had a very important monthly unemployment report that came out very strong. The unemployment report […]

After yesterdays close of the SPX and RUT with huge engulfing red candles, the market came back strong from the open and regained most of the ground. As it has been the case lately, all selling or dips are met with a bid to the upside. SPX lead the way retracing 61.8 % of the […]

GOOGLE is the biggest stock there is in the whole universe of stocks. It is an 800 ib Gorilla in the room. Biggest means the price numerator and its price action. The stock is a mover , it doesn’t stays quietly, it moves 10-15 points on a given day and unless you have the stomach […]

Yesterday we showed you the market divergences taking place in RUT the small caps and IYT etf  which is based off Dow Jones Transports. Both those weakenss spread to SPX and DOW itself and the whole market went down in controlled sell off. One of the things to note is that $VIX has not shot […]

The market is making historic highs, the DOW is at the highest and now SPX is also challenging the 2007 highs set before the financial crisis of 2008 took hold of this country and the sheer devastation that took place. All those economic worries, those hard years and near death of the stock market is […]

Have not seen a sell program that strikes at 12 noon or 3:00 PM all this year. I was wondering what happened to those good old fashioned sell offs? Those ugly candles and red on the screen. When the dust settles all is well and we are back at the buying table. The market clearly […]

SPX continues to grind higher. The haphazard formation of Megaphone  like pattern has clearly resolved to the upside with today’s move.  Usually these patterns are bearish in nature and lead to lower prices. The earnings season is almost over, and now the attention focuses back on the economy and Europe and other fiscal matters. What […]

SPX has gradually splattered all over the place. We had one big day down and moved to the 10 day line and than a reversal move  and than a hammer close today. There is  possibly a formation of a  broadening top chart pattern or megaphone pattern.  These patterns are bearish in nature and usually resolve […]

The SPX definitely reversed after putting an impressive rally on Friday with a bullish engulfing candle. This was a cause of no concern as it was expected that such move was due and this could be the pullback bulls and bears may be looking for the last two weeks. RUT also drove down from the […]