Call me a complacent bear, but I think the market has an ass kicking in store for the bulls. Yes, that’s a new low for the banking index. Yes, there may be a major pop due to government shenanigans. Yes, it will probably be a fantastic shorting opportunity. Stocks on the NYSE are increasingly volatile…
A few ratios to discern the state of the market. My NASDAQ indicator printed a new X today despite today’s fall. Lower volatility is bullish. The BXM:SPX ratio is banging against the 10sma again, hopefully it will act as resistance and the spread will turn around (bullish). The continuing fall in Treasury yields is quite…
With the dollar going down faster than my H.S. prom date, let’s see where we stand. The emerging markets like Brazil and India are breaking downtrends and upper bollingers. LQD continues to rip north on large volume, but I’m getting out for larger returns in precious metals. While there are many gold miners, few are…
The market continues to rally as the Fed lowers key lending rates. Rate cuts are having a negative effect on US bonds relative to foreign ones. Up volume significantly outweighed down volume, continuing the bullish theme. More stocks are trading above their 50dma on lower volatility. New highs are becoming more prevalent as this index…
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…
Some indexes are beginning to show real signs of life. Brazil’s Bovespa has broken a downtrend and Bollinger Band, so I’m looking to buy on dips. Gold miners have been putting in an uptrend longer than any index I cover. With so much political uncertainty, I can’t say I’m surprised. Nevertheless, stay cautious if you’re…
Any one have thoughts on the following divergence? The relatively new Dollar Bullish ETF UUP is indicating a new downtrend. On the other hand, the $USD, a index with a bit more trading history, seems to be at the lower range of an uptrend. Since they share a 1:1 correlation, this aberration might be explained…
A few ratios and some interesting developments. US Equity / US Bonds have reached a prior level of support. Watch for resistance. Another day of advancing volume significantly outweighing declining volume. The US Dollar looks ready to break its recent and sharp uptrend, implying slowing momentum. Silver is putting in a nice base, and is…
A tip of the hat to people who can actually blog for more than a month… I certainly couldn’t. Now that we’re plumbing the abyss of financial Armageddon, it seems prudent to comment on these so-called historical times. Does anyone remember Hank Paulson’s “strong dollar policy”? People (including myself) scoffed at ol’ Hankie every time…
This past weekend I got drunker than the American consumer, only to find myself locked out of a friend’s apartment like a depositor in a bank run. Like Mike Shedlock, I rang the bells and made some calls, but too no avail, for my cries fell upon unattenuated ears, similar to the monkeys on Capitol…