The sp500 is currently trading in the form of a double inside month pattern. This is only the second time this pattern has shown itself since 1980. It could suggest a huge move either up or down as we move into 2012.
The sp500 and stock market is at risk for a more serious break down into end of year and early January 2012. The market tape action must start to firm up very soon to save a chance for a continued up trend.
SPY Technical Analysis now suggests that the sp500 and broad market are in a continued bull mode for the intermediate future. Today’s price action was historic and an important turning point signal for equity markets.
SPY Technical Analysis shows that market is still in sell mode but is still on the tipping point of either major bull or bear type of move.
SPY technical analysis suggests that teh SPY could move swiftly down into the early October 2011 swing low. The technical price action the longer term time frames remains bearish.
The sp500 weakness continued today as forecasted previously. The tape on the sp500 remains weak on the short term, intermediate term and longer term price charts.
sp500 Technical Analysis for today November 22, 2011 shows that the market declined again on light volume and is likely to wait for the decisive move until next week.
Price and volume analysis shows that the current downward market trend is down but without volume conviction.
The tape action on the sp500 is not looking so great lately. We are coming into the end of the month of November and so the price action over the course of the next 8 trading days will be very important determinant of the longer term trend of the sp500. The reason why is because … Read more
BAMM Books-A-Million, Inc. is a stock that came up on one of my Metastock scans as a price and volume breakout stock. This is a small cap stock and seems to be the alternative to Barnes and Noble. The stock has been in a bear market for a long time but the weekly chart shows … Read more