Blog Archives

SPY Bottomed Today

Today the SPY ETF Bottomed with a bullish spring formation in relation to the 3/16/2011 price swing low.  It was a bullish spring and rejection of that 3/16 low and volume shrunk by about 21%. 

So it is clear to me that we have bottomed in the short term and are now set to work higher in some type of counter trend rally higher. 

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Posted in ETFS, SP500
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SLV ETF Continues to Power Higher along with Gold

Both silver and gold continue to blast higher.  I think it is an important point to observe that gold and silver are pushing major new highs while the stock market seems to be drifting a bit.  For the first time in a long time I am maybe starting to wonder if we will see them decouple here. 

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Posted in Commodity ETF, ETFS
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Mini Bear May be Over in IWM by Tomorrow March 25 2011

The mini bear we have seen in the market indices may be officially over by tomorrow near the open.  The IWM continues to trade right up to the recent down trend line that has defined this mini bear and is likely to bust above it tomorrow on the GDP report or even gap up above this resistance. 

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Posted in ETFS
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The SPY ETF looks Like a High Tight Flag in Reverse

The SPY ETF from March 9, 2011 to March 16, 2011 has done a swift move down in somewhat vertical fashion.  The recent two trading days has shown the SPY trying to get a bounce going, but so far I would describe the bounce as somewhat lackluster.  Sometimes real upside bounces take more preparation before they really show their true colors. 

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Posted in ETFS
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TZA TYP Look Like good Longs from here

The inverse market index ETFS seem attractive now from current levels.  They have made an initial move higher 2 weeks ago and encouraged bears readily, but since then have bled lower again discouraging bears once again.

However my sense now is that they are ready for another leg higher,

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Posted in ETFS
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Silver Futures about to Go Parabolic

A huge huge development occurred yesterday in the SLV ETF and the silver futures market.  The SLV blasted higher to a new 52 week high on a big surge in volume.  This now appears to be a clear signal that the SLV ETF is going into parabolic mode and could imply a move to 50 dollars which is near the old spike high of the 1980’s. 

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Posted in Commodity ETF, ETFS, Silver Futures
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XLF Financial Select Sector SPDR ETF at Previous April 2010 Highs

The XLF Financial Select Sector SPDR (ETF) weekly candlestick price chart shows no major bearish candlestick pattern, however the volume picture does not inspire very much confidence.

The XLF is only just now revisiting its April 2010 high level after most other indices have exceeded it by an already large margin. 

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Posted in ETFS
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UUP ETF Close to Breaking Back Above the Old Head and Shoulders Neckline

If the PowerShares DB US Dollar Index Bullish UUP ETF in the next week or two is able to break back above the head and shoulders neckline resistance level, it could spell trouble for the stock market and bode well for inverse ETFS and leveraged inverse ETFS such as the TZA.

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Posted in ETFS, US Dollar Index
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XLF Financials ETF May Provide Clue for Next More Involved Correction

The XLF ETF has been showing a good amount of strength recently but has still so far been lagging behind the sp500 in terms of exceeding the April 2010 highs.

The XLF returning to the April 2010 highs could be a good guidepost for the next ‘more involved’ stock market correction. 

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Posted in ETFS, SP500
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UUP US Dollar Index ETF Struggling near Head and Shoulders Neckline

The UUP ETF is currently in somewhat of an interesting juncture.  The UUP US Dollar Index ETF has recently made a second attempt to break back up and through the neckline resistance level that defines a somewhat large head and shoulders topping pattern.

This neckline level of 23.5 on the UUP is key resistance. 

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Posted in ETFS, US Dollar Index
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