Sunday, November 19th, 2017

Taking a look at this video gives you a better idea. SPX made a splashing red candle on February 3 and negated all the work on the left hand side of the charts for months and pierced through some major technicals. Next few days it meandered around and made a U shaped turn which indicated […]

SPX showed up with a distribution day for the first time in this long winning streak. This was the first distribution day and the Technical damages was just barely noticeable. It was like a minor dent on the surface. We just have to see how this overbought market handles Ben Bernankes testimony before Congress on […]

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 […]

The media becomes ripe with innuendo and speculation once the market starts tanking. They sell the news. There were many people mouthing off 5 % to 8% correction yesterday on major news channels. One thing you need to remember these are opinions- not facts- not anything close to being a market technician and they are […]

This the second time since Thursday the SPX has visited the 50 day moving average. After bouncing off nicely and enjoying the ride based on Fridays unemployment report, basically the market went nowhere and slammed again almost touching the 50 day line. Many other stocks have also touched the 50 day or broke through it. […]

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 […]

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 […]

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 […]

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 […]