Blog Archives

We are getting close to a bottom according to Google News

Google News Homepage can be a great way to find out current trendy and frenzied topics that many are searching for and obsessed with.  I have found it quite rare for the “Dow Jones Industrial Average” to be at the very top of the google news top stories sections. 

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AAII Investor Sentiment Very Bearish Now

According to AAII and a chart of AAII data at pragcap.com it can be seen that AAII sentiment is in a heavy bearish zone right now.  From a contrarian viewpoint this could be a bullish indicator for the market. 

Also pointed out at that site is that the last time sentiment was this bearish was about the 9/10/2010 mega low in the market. 

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Possible New Huge Oil Spill in the Gulf

There may be another new huge oil spill in the gulf.  I caught wind of this on some internet message boards but have not been able to confirm the story.    I am not seeing any coverage on the major TV networks.  The internet chatter is saying it could be a 100 mile by 10 mile wide sheen of oil.

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Market Sentiment at Extremes

It has been quite astonishing how persistent the current rally has been.  The recent rally seems almost more extreme than the one that ran into April of 2010.

I must admit too also recently that I have had this feeling of “this market never wants to go down” or that a pull back will almost never come again.

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Bearish Gartley Patterns

I had a quick look at Suri Duddella’s website and notice that he is identifying many potential bearish gartley Fibonacci patterns on some important stocks.  These also appear to have formed in many indices as well.  The patterns on a number of stocks and indices as shown on his website seem to indicate some type of correction is due soon.

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QE2 to be or not to be

I really like Mr. TopStep’s take on the market.  I couldn’t have said it better myself.  I find myself agreeing with everything he said in the video.  I found the following utterance, “Maybe they are not going to do it” quite interesting.  Apparently Dennis Gartmann was talking about this in his letter. 

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An Older Video from Bob Prechter of Elliottwave

Video (Part 2): Prechter: Ominous Pattern in the DJIA

(Note: This interview was originally recorded on September 20, 2010)

In the video below, Robert Prechter talks to Yahoo! Finance Tech Ticker host Aaron Task and Henry Blodget about a technical pattern he sees forming in the Dow.

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Bill McLaren Report

I just jumped over to see what Bill McLaren’s thoughts are on the market.  I guess he occasionally does CNBC gigs with technical analysis updates.  I don’t quite know his method but I think he uses Gann and Fibonacci studies and volume as well.  Apparently this can help give him precise dates for potential moves.

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Marty Armstrong and Armstrong Economics dot com

If you are interesting in the economy and fundamental side of the markets then you may want to check out the writings of Martin Armstrong.  He is probably one of the most brilliant economists ever in no small part due to the fact that he came up with a precise cycle model that has pinpointed often to the exact day,

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Posted in stock market economics, Trading Cycles, Trading News
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The Stock Market Bulls Won Today

If you have been following my posts you probably know exactly what I am going to say in this post.  The bulls won today very clearly and it was a decisive day in terms of volume (276 million shares on the SPY) and price strength at resistance.  This was not necessarily blockbuster volume but it was surprisingly robust especially considering the volume pattern since late April 2010. 

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Posted in Index Trading, Market Timing, Online Trading, SP500, Technical Analysis, Trading News
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