Blog Archives

Volume and Price Analysis and What it Means

Price and volume analysis shows that the current downward market trend is down but without volume conviction.

Posted in Technical Analysis
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Too Late for Longs Too Early for Shorts

The sp500 is still trading within a very large trading range.  It is looking like we are headed on a clear path to 1230 or so for a test of those swing highs.  The 1230 is right at the top of the current large trading range.

So it seems like it is too late for new longs from here and too early for any shorts on this market.

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Posted in SP500, Technical Analysis
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Stock Market Crash

We currently appear to be inside of a slow motion stock market crash that is breaking down from a large broadening top formation as well as a head and shoulders top formation.

BestOnlineTrades issued a BOT short signal way back on July 28,

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Posted in SP500, Technical Analysis
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sp500 at Neckline of Head and Shoulders Support

The sp500 has blasted lower in almost vertical fashion and is now at neckline of head and shoulders support.  The BOT short signal is still on and will very likely be on for the rest of this year.  Until further notice the only signals I will give in the future will be new follow on BOT re-short signals.  

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Posted in SP500, Technical Analysis
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Sell the Rumor and Buy the News

You have probably heard the expression ‘Buy the rumor and sell the news’  ?  Well that strategy works very well when you are looking to go long a particular stock on some forward looking news.

The opposite of buy the rumor sell is the news, is ‘Sell the rumor and buy the news’. 

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Posted in SP500, Technical Analysis
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Todays Hanging Man and the July 7 Decider

The daily tape on the sp500 is showing a small hanging man candlestick today which is so far unconfirmed.  Assuming the hanging man (strange isn’t it how a hanging man candlestick forms during this intense political and news cluster?) retains shape by the close today then it would need to be confirmed with a closing under it,

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Posted in SP500, Technical Analysis
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Is the CAT giving us a clue

Interesting to see CAT falling down a bit after its inverse head and shoulders.  Of course it is only one DJIA stock and one stock does not a market make, but still, seems to very slightly start to support my 2007 H&S top theory versus the 2011 time frame.

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Posted in SP500, Technical Analysis
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BestOnlineTrades Trivia

Sometimes things are not as they appear to be.  Here is a short piece of BestOnlineTrades Trivia for you.  Within the next 30 minutes I will post a follow on post explaining why this trivia question is potentially important.

The trivia question is:  The chart below represents sp500 price action that takes the form of a bullish inverse head and shoulders pattern. 

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Posted in Technical Analysis
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Head and Shoulder Top or Bottom

The sp500 blasted higher today and the QQQ is within inches of a new 52 week high.  It is starting to look like the markets are going to break out to new all time highs if they can manage to evolve into breakouts from the head and shoulders bottoming formations I mentioned in a previous post.

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Posted in SP500, Technical Analysis
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Was Today the Right Shoulder of a Head and Shoulder Top

The sp500 today dropped down hard and fast in what seemed like a disaster.  However in context, we were way overdue for some type of drop after the previous huge multi day surge that sent the market up for multiple days.

A number of ETFs as of last Friday were right at a previous peak and it was only natural for some type of drop to occur.

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Posted in SP500, Technical Analysis
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