Price is the only thing that pays, but it’s not the only thing to watch. Although the NASDAQ was up more than 2.5% today, 3 of my indicators remain bearish. Chart 1: QQQQ (NASDAQ 100 ETF) is falling with volume not seen since Lehman’s went bust, yet it remains above the November lows. This feels…
General Electric is causing chatter on StockTwits. Leave this collapsing conglomerate to experienced traders, this is no place for investment. The last time I mentioned GE on this blog was here on December 02, 2008, trading around $17. “GE is a financial, mired in resistance, and in need of a bailout, I would sell the…
“The ‘canonical’ market bottom typically features below-average valuations, falling interest rates, new lows in some major indices on diminished trading volume… and finally, a quick high-volume reversal in breadth….” -John P. Hussman, Ph.D. (Hussman Funds, 5/22/06) This strikes me as good advice, though I haven’t lived through enough bear markets to validate its truth. Given…
The 5 least correlated positive return ETFs show numerous markets cracking critical support and making new lows. S&P 500 indicators are bearish across the board. The market remains fahklempt, buyers beware. The only positive things I see are emerging markets holding above the November lows, and Treasuries failing to make new highs, despite ominous news…
My Internet is terrible, and thus this post is gonna be short and sweet. Despite today’s fall in the S&P 500, my Bullidex chart has begun printing a new row of X’s. This is a bullish signal, indicating a decrease in volatility and and increase in the % of rising S&P 500 stocks.
“Today’s Ponzi-style acute fragility and speculative dynamics dictate that he who panics first panics best.” – Doug Noland (Prudent Bear Funds, Credit Bubble Bulletin, 10/26/07) First, let me apologize to you dear reader, for Quote Critique has been on a brief but unfortunate hiatus due to extreme lethargy and sexy booze filled nights. Now that…
Despite the buoyancy of some financial stocks, the market remains in liquidation mode with fewer stocks in bullish formations and increasing volatility. Cash remains king, whether it be greenback or gold. Until the above chart begins to show a new row of X’s on the far right, there is no need reason to get long…
I’m fortunate to be in cash and gold, this market looks hella ugly. Volatility is rising and there are fewer stocks trading in bullish formations according to the Bullidex. I’ve noticed that my rant on Antal E. Fekete is growing in popularity, and while that’s all well and good, I’ve changed my position on gold…
I should have posted this last night, but I got wasted on the LES and awe struck by some massive titties. What’s worse, this is by far the most difficult chart to read because of its massive height. The scaling of the Y-axis is dynamic due to the ever changing Average True Range of the…
Despite terrible economic news and questionable business practices, Morgan Stanley continues to rise, remaining well above the 2008 lows. The lack of volume on up days tells me there is little conviction amongst buyers, and that sellers are marking up prices, which will exhaust demand for the next leg down. All the same, until MS…