Friday, November 17th, 2017

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 […]

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 […]

This is the other side of the coin. There was a time when the uptrend seemed almost unbeatable. For three weeks day after day making news highs the market climbed a steep slope, throwing everyone in amazement and wonder. How can this market keep on doing that? And finally on May 22nd, SPX made a […]

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 […]

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 […]

We are about to take out 2007 highs. After a scary job report last Friday bulls are back with solid push to the upside as you can see in the indexes. The job report was bad overall, but the Feds are on the side of bulls. The printing presses are running overtime and the QE4 […]

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 […]

Unable to display content. Adobe Flash is required. SPX bounced off the congestion pattern it was creating last few days and closed just near the all time highs set back in 2007. The erratic action seen last few days made many traders nervous and unable to take long positions. This however looks like will be […]

The problem with this market is it is hesitating to take out the old 2007 highs set way back before the Financial crisis hit in 2008. As if this will melt some forbidden icon that is at least has dominated our charts for the last 5.5 years. The sideways action has become a common place […]

Unable to display content. Adobe Flash is required. The SPX is acting erractically and making lots of traders nervous. We had a real down day yesterday and you can see the bottoming tail there and than today we got a surprised gap to the upside. Most of the day markets traded quietly expecting the FOMC […]