It has been a wild week thus far, here are some internals. Banks are back into a bullish position, goddamn whiplash got me. There was a new X made in my primary market indicator, which is a great sign for equities. Risks are still high, but if the dollar continues to fall, this should continue…
I hope to God that the chart below is a misprint and not a premonition. If bonds make a move like that, this crisis is going to take a turn for the worst. Though we closed positive Friday, my indicator fell, suggesting a bearish divergence in an uptrend. Buy on the dip is still in…
Even with today’s negative action, my indicator was positive. We’re at the levels that preceded the last down leg. Will it be different this time? Short treasuries and short gold is breaking down, so people are still shunning risk. The yield on the 30 year looks ready to make new lows. I’ve been too busy…
This market continues to exhibit an upward bias, so keep buying the dip. Risks remain high. The markets haven’t looked this bullish and stable since Obama was elected. The spread between Buywrite and Buy ‘N’ Hold indexes made a new low and violated the lower Bollinger Band, signaling a potential trend change. The falling spread…
Fortune favors the bulls as the rally continues. More stocks are getting bullish and the volatility is dropping. Stocks above the 50dma are increasing, but we don’t have a confirmed trend. There are an increasing number of stocks making all time highs, but it’s still meager. The spread between short and long term volatility is…
The short term uptrend grows stronger by the day. The Bullidex (Bullish Percent Index / Volatility Index) has finally registered some new X’s. More stocks continue to rise above the 50dma on decreasing volatility. Finally, an increasing number of stocks are trading at new highs. Market internals continue to strengthen as an increasing number of…
Not much has changed, even with Friday’s +6% close. Even fewer stocks breaking to new highs. Optimistically, a couple stocks are climbing above the 50dma. Gold showed good strength, and GDX was up 26%. But gold is approaching resistance, so stay cautious. The market is still terribly weak. Gold miners may offer some upside potential,…
Here is a long term look at how bad this market is for investors. Nothing is going up and the volatility is high. Banks are making a run to 0. The only potential silver lining is the catastrophic ratio between down/up volume, but I wouldn’t wanna try and call this capitulation ahead of time. All…
If this market wants to rally, it sure has a strange way of showing it. Nothing seems to be making any significant ground in the SPX. At best, there are an increasing amount of stocks above their 50dma. Maybe a little relative strength in the Utilities. In a bear market you make more money shorting…
The S&P500 looks terrible… Really terrible… Invest with caution… Until some X’s get printed on these charts, it’s time to be short short short.