NFTRH+; Not bearish
As we ping back and forth between the summer cool down (w/ potential liquidation) and the view of a resumption of the inflation trades I want to make a point…
As we ping back and forth between the summer cool down (w/ potential liquidation) and the view of a resumption of the inflation trades I want to make a point…
US markets are testing the short-term support zones as illustrated in NFTRH 625. SPX is settling into the first projected support zone at the EMA 20 and just above the…
Why again do I not have the constitution to be a perma-bear? Dow counts 27805 reasons as it breaks through the EMA 20 and SMA 50. SPX has taken out…
This is one for the ages, this relief rally that is knocking on the door of becoming something more, all the while driving a lot of people absolutely nuts. That…
Over the years I've harped on about this. The media tout "DEATH CROSS" in fearsome headlines and then voila, a hard bounce happens to punish anyone who knee-jerked in response…
The S&P 500 turned down just below the 200 day moving average, the Dow broke above its SMA 200, turned down but is now testing it as support, and NDX…
I can't emphasize enough how important it is for us to be open minded to future outcomes even while having favored views. We've done a lot of work on the…
Yesterday’s hard reversal of Tuesday’s bullish move was an unpleasant development for the bulls but this morning, plucky as ever, they are back at it trying to bull the market again (SPX +13.50, NDX +27.50, Dow +87).
Recall that we were using the EMA 20s (orange dotted line on SPX and blue lines on NDX and Dow) as a key for the short-term. On Tuesday SPX and Dow popped above the EMA 20 but the NDX stopped right at it. NDX is a leader.
Reference a public post about momentum leader, the Biotechs, looking to go lower.
Fellow momentum leader SOX is potentially double topping…
Amidst an economic backdrop in the US that continues to very gently decelerate, we have a celebration of what was perceived by the market as a dovish Fed. Anxiety had…
Well, here came the short covering rally in the precious metals. By calling it that I don’t mean that it cannot turn into something more, but today was most assuredly driven by short covering as the US dollar unwound some of its speculative sponsorship. One can assume that large speculators took it on the chin on both ends, in the USD and in gold/silver as the Commercial traders had been aligned increasingly bearish and bullish, respectively.
A brief update on the headline US markets, namely the Dow, S&P 500 and Nasdaq 100.
Beginning with the latter, we note that Mark Hulbert’s Nasdaq newsletter writer sentiment data shows a very bearish sentiment profile, which is contrarian bullish.