Uranium Resources Inc URRE is very close to making a decision on whether or not to hold support at 2.65 in the coming days, perhaps as early as tomorrow. Today we see that URRE declines for the fourth straight day and is closing right near the low of the day’s range, but not significantly violating … Read more
The sp500 is trading higher at mid day today and so far has not revealed any willingness to follow through on last Friday’s candlestick reversal hammer. The reversal hammer was not the most ideal in that it did not have a very long tail and was also within a trading range as opposed to being … Read more
The Uranium spot price according to UXC.com is currently near 70 dollars per pound as of January 12, 2011. I check the price occasionally and have been thinking about this sector for quite some time now. I believe the uranium spot prices are updated every Monday but then released in delayed fashion by Tuesday or … Read more
My take as of today’s close in the sp500 is that there is more downside to come in this market. Today we saw a shooting star doji reversal after yesterday’s high volume downside move. We also see that the NYSE summation index is now more firmly in the sell zone and appears to be gaining … Read more
The sp500 today formed a reversal hammer and also created a daily MACD sell signal. The RSI moved into the support zone indicated in yesterday’s post during today’s intra day action and the market bounced off this support area to finish almost unchanged. The daily MACD sell signals have not led to anything meaningful on … Read more
The sp500 today did a more meaningful decline than what we are used to seeing. We have gotten used to the sp500 going up in a straight line with zero down days, so today was definitely something different to behold. Today’s decline seems consistent with the sp500 getting close enough to the all important 1300 … Read more
A comment poster recently asked me to take a look at ARMH stock for some clues as to whether it was in a good buy zone. I indicated that ARMH was probably overextended and not at a good risk reward entry point. Sure enough a few days later the stock shot up from 21 to … Read more
The sp500 continues to trade with astonishing strength in terms of price resilience, but not in terms of volume. Price continues to act strong and we still have not created any bottoming tail on the monthly, quarterly or yearly price candlestick chart of the sp500. The fact that the market is unwilling to create any … Read more
I am back to a neutral signal for now. The tape is not breaking down by any means. Maybe it will later this month, but for now it just seems like we are not going to get any major sign of weakness in the market yet. It looks as though earnings season the next couple … Read more
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. The break down of … Read more