Since October 16th 2009, when the high on the S&P was 1096, the stock market has been treading in over valued territory. Last weeks low of 1066 was the first crack in that mini-bubble. What is ironic is that the…Continue Reading →
So much is happening today I can think of about five different headlines and the one that I used above is probably not the most important. A couple of the other headlines that I considered were “Gold Blowoff”, “Deflation Lurking”,…Continue Reading →
That is the level where sell stops started being triggered last week on the plunge to 1066. A trade below this level will make the longs nervous, and a close below it would be a cause for serious concern.
Was it a “Fat Finger”, was it a rogue computer program, was it a trader out of control ? All these possibilities are too complex for this situation. To me it looks like everyone got on the same side of…Continue Reading →
I am not one who blames Greece for much of the recent market volatility. To me volatility occurs when the string is stretched too tight and something has to give. That is where we are. Since March 2009 the markets…Continue Reading →
While there have been substantial down moves the past few days, the markets have not given trend sell signals to any degree yet. On The S&P, the market will probably roll around in the 1150 to 1190 area until we see…Continue Reading →
The trend composition of the ETF markets since the comments last Wednesday is basically unchanged. What we do have is a baseline for the changes coming.