I think yesterday, March 20th I became a bit too quick to raise the white flag. Given today’s sharp reversal and the break down in the BBH biotech index, the re establishment of downtrend in the Mclellan oscillator and moving averages and the nature of the high volume reversal, I have to go back now … Read more
The tape action in the SP500 today is definitely NOT confirming the bearish thesis forecast over my previous two postings. The tape action today basically did a ‘stick save’ and now has once again flipped the bias to the bullish side. In addition today the financials are very strong, not to mention many of the … Read more
Today was Fed decision day and it did not disappoint in terms of providing some volatility today. My gut instinct today was that the market would do the typical thing today and sell off a bit on the 2pm announcement and then rally into the close and blast higher after that. I actually thought today … Read more
I have been studying the longer term chart of the Dow Jones Industrial Average recently and am trying to determine if the market has the potential to confirm a major top this year. It has been said that it is a fools game to try to pick market tops. In general I agree with this … Read more
I have been researching the gold and silver sector today and I am slowly coming to the conclusion that this sector has a very good chance of mounting a sizable upside bounce (swing trade) from what seems like the bear market from hell. To be sure, precious metals sentiment has been extremely bearish and at … Read more
August 7th, 2013 of this upcoming week is a mid point turning point date according to Marty Armstrong’s famous cycle model. It can be a bit confusing to understand his turning point dates, but here are a few points I would conclude about them: They have the potential of being extremely precise (for example the … Read more
There are a couple possible warnings flags of potential bearishness in the sp500 daily chart as of this writing. I am seeing a class C bearish divergence between MACD and price in the daily sp500 price chart. The class C bearish divergence is labeled class C from Alexander Elder’s book Trading for a Living where … Read more
I was able to trade RMTI recently from 4.80 to about 5.80 and finally was able to get a good trade going after many recent whipsaws and stop loss take outs. I was beginning to wonder recently what was wrong with my trading. I think I know now and am re thinking my entire trade … Read more
It is looking like AMD is shaping up into a really good position trade into end 2013. AMD has been around the block a few times. This is no penny stock although it trades for 4 dollars and change right now. It averages about 20 million shares a day and my price data on the … Read more
The chart you are about to view below looks a little bit like a children’s drawing. Of course it is not a children’s drawing, but instead a quarterly price candlestick chart of the US Dollar index, the ‘stock of the United States’. Quarterly price charts are obviously slow moving, it takes 3 full months just … Read more