[edit] It goes without saying that if today's bounce fails and SPX goes on to make new lows, the analysis from this morning is back on. Though 2090 is a…
Yesterday we noted the Biotechs had lower to go, and lower they went. Typical of today's momo driven markets IBB took the express elevator right to the projected support zone…
S&P 500
Per the simplified big picture daily, weekly and monthly charts of SPX first introduced 6 weeks ago in NFTRH 329, we have been managing potential downside targets of 2000 and 1900.
If SPX were to hit either of these targets it would not kill the bull market, especially if 2000 holds. In that case it would be a normal, moderate and healthy correction.
Reference a public post about momentum leader, the Biotechs, looking to go lower.
Fellow momentum leader SOX is potentially double topping…
I would be careful here on Biotech. The reversal candle signaled a fallout from a mini blow off. The level to which IBB became over bought implied the momo players…
The European 'me too' play to the US' previous QE operations is working like a charm as manufacturing purchasing managers continue to buy at an increasing pace. PMI has increased…
The bounce has materialized, as anticipated. This almost had to happen given the vastly improved CoT structure for gold, the over sold levels of the stocks and the “puke” sentiment noted a couple weeks ago.
The first target on HUI is 180 (+/-). What we have going on there is a gap to be filled and a resistance area that has very clearly held support and provided resistance for the last 6 months.
Here we have Uncle Buck, fallen out of bed and trying to right himself. Support is noted, first at a trend line and then stronger support at a lateral cluster. …
SEMI has released the Semiconductor equipment sector's book-to-bill ratio (b2b) for February and it continues to be stable. The implication is that the industry as a whole is still upgrading…
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The Utilities index was shown for subscribers in NFTRH 334 before it had broken out of its bullish looking Wedge. The index had drifted down to support and if one…
By way of @TheStalwart (which was forwarded by a subscriber who has dug up so many quality reference points): Holy crap. Had no idea the Billion Prices Project is now…
Post-FOMC The first line of the FOMC statement yesterday was what I assume they wanted us to pay the most attention to. It was packaged with a view of moderate…
These moves were likely either sooner or later, and the FOMC's sorta kinda change of wording was just the accelerant needed. Uncle Buck is taking a break... ...and EUR/USD is…