Were AAII & II right? [w/ edit]

Two extreme sentiment indicators said ‘rally’ [edit] Okay man who stares at chart, make a post in pre-market and see the thing reverse at open. NQ chart below is still above the dashed (tentative) support line and should hold that to keep the theme in play. NFTRH 702 reviewed the bearish weekly charts of the main US stock market indexes. It’s not that I wanted … Continue reading Were AAII & II right? [w/ edit]

Banks/Broads in the face of elevated L/T yields

Not very happy signaling from the Pigs Neither nominal KBE… …nor the KBE/SPY ratio are looking very good in the face of rising yields. Indeed, KBE above is in a nasty looking pattern as it stands now. The banks are normally thought to benefit from rising yields, but I think a ‘carry’ on the short end is busted. But then again, you could view the … Continue reading Banks/Broads in the face of elevated L/T yields

Nasdaq 100 positive divergence

Man stares at NDX chart, sees RSI/MACD divergence It’s far from the most important news in the world, even financial market news. Indeed, NDX has a case for an eventual move lower that we are watching. But this case right here argues something more short-term positive. However, as yet NDX has not even taken back even the shortest-term uptrend at the EMA 20. The divergence … Continue reading Nasdaq 100 positive divergence

Stock market correction or something worse?

As the US stock market corrects… US indexes are largely intact, and that includes NDX, even as everybody hates Tech now. SOX is intact too, but as we’ve noted for weeks in NFTRH, was vulnerable to correction of its own overbought excesses (especially by the sexiest Semi leaders like NVDA and AMD). SPX is nose diving for a test of its SMA 200 and so … Continue reading Stock market correction or something worse?

You can bet a lot of eyes are on this ‘W’ pattern

Small Caps (IWM) are at a technical decision point And that decision is between breakdown or a hold of the daily trends of the SMA 50 (intermediate) and SMA 200 (major). This market seems to revel in keeping players in suspense (ref. the Copper/Gold ratio and other as yet undecided macro indicators). I would think that a loss of the small caps would not be … Continue reading You can bet a lot of eyes are on this ‘W’ pattern

Another US stock market leader gets in gear

The Medical Device ETF is breaking a trend line We have tracked market leadership by the SOX>NDX>SPX chain closely in NFTRH. It is one of the keys to an ongoing bullish stance. But here is another traditional leader we have tracked/traded/picked components of for several years. IHI is in a stance that would put pain to bears if it starts playing catch up. Double bottom … Continue reading Another US stock market leader gets in gear

Small caps at critical support

Small Cap (Russell 2000) iShares is at important support The chart of IWM implies that the correction needs to end sooner rather than later or some markets are going to go in the dumper (many global markets, esp. those vulnerable to a strong dollar, already are). Interesting, since January is traditionally thought of as ‘small cap’ month. For “best of breed” top down analysis of … Continue reading Small caps at critical support

Of course the Pigs are flying

Banks are posting a strong quarter The inflation (money printing by the Fed) has brought reflation (economic benefits of said inflation) and none are more targeted for benefit than the Pigs… err, that is, the banks. I have not read the article, but you can if you’d like by clicking the graphic. The headline gives reasons like something called a reserve release, advisory and asset … Continue reading Of course the Pigs are flying