Since the market is up handily in ‘pre’, I wanted to get you a look at what it would take to negate the technical damage of the last 2 days, with very simple daily charts of the headline US indexes (plus the SOX). This can be applied generally, to any index or stock for that matter. As of now in pre-market, these items are still well below key resistance levels.
You cannot call yourself a bull if SPX declines to 1925 and you are not buying there. Me? I am not a bull, but I am someone who, if the…
Sometimes my charts get noisy with all the moving averages, momentum indicators, volume, different time frames, inter-market ratios, etc. For this post, some very quiet monthly charts. Let's start with…
We looked at 'em pre-market and now I have removed my drawn-in candles as the market's actual candles have blown them away. Here is what is going on. INDU is…
You can see my artwork skills on display as the pre-market implied opens for INDU, SPX and NDX are drawn in as white candles on the charts. INDU is mostly…
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.
The weekly EMA 20 has crossed over the EMA 50 and that is just a fact. The bulls not only took the bears' ball, but now they are chasing them…
I assume everyone sees the topping pattern on the S&P 500. It is the Dome (AKA Dunce Cap) we have been following since mid-2015. The most bullish thing about this…
Just posting to try to get the media settings right on the new site format. While we're at it, let's note that SPX is now at the top of our…
I have allowed for the S&P 500 to rise to 2030 (bounce target: 2000-2030) before starting to even think about a revision of the ongoing intermediate bearish analysis. Today's post-Draghi…
In subscriber updates we noted that the middle of the 'W' was at 1947. That was the high that SPX would need to take out in order to keep the…
From Monday's pre-market update... "Based on this morning’s futures, it looks like the stock market may try to convince us that it is done consolidating below the top of the…
The title is a paraphrase of "the scariest gold chart in the world" (target below $400) someone sent me in 2009, just before the gold price began its $900 per…
A super simple look at the 3 major US indexes by daily chart... As you can see, the indexes dropped from the point of the post-BoJ hype burst right to…