SPX keeps the bull trap scenario alive by not making a higher high before today’s downturn. That downturn only filled a gap so at face value it is nothing serious. Lose the January high (green dashed line) again and we would start talking more seriously about a correction. Dow turned down a bit but is well above the 25,800 breakout point, which set the January … Continue reading NFTRH; SPX, INDU & NDX (medium priority)
Here’s the thing, historicals and analogs fail to repeat all the time. Just ask Tom McClellan… What Happened to the Eurodollar COT Model? Or just ask me as I once had some 30 month cycle thingamajig on the S&P 500 calling for a top that SPX blew right through and mocked me about. But one thing that cannot be argued with is history. It happened, … Continue reading Quant Edges: You Can’t Argue With History
As noted in this week’s NFTRH US & Global Market Internals segment, an important leader is failing to lead. That is all the more notable because said important leader is the Bank sector, which is normally well correlated to long-term interest rates. What is up with this disconnect? What is KBE/SPY telling us about the yield and/or the state of economic health if the yield … Continue reading Pigs Diverging the 10yr Yield
The bounce lives, and it’s got some positive divergence behind it on the MACD & RSI momentum indicators. GDX may be confirming today that the divergence to the price drop into September will play out in a positive way on the short-term. GDXJ is very similar. What we’d want to see is more volume show up (like that with the initial thrust last week). These … Continue reading NFTRH; GDX & GDXJ Daily Charts (medium priority)
Anthony Sanders has one of his short and entertaining posts (the Fed is a 97 lb. weakling, you know) about the Everything Bubble (@Biiwii)… Mother Of All Bubbles (MOAB) And Endless Monetary Stimulus When you see a chart like this you (well I, anyway) have trouble with all that conventional analysis out there about the stock market like P/E ratios, P/S ratios and forward expectations due … Continue reading Barometers to the Everything Bubble
