Market Analysis

Remember how April started with a correction scare after the S&P reached new highs? There were rumors of 5% corrections down to 1450 sprinkled in with the 5-15 minute reminders on the financial news channel that we are, or were just a moment ago, at record highs. Then, the pullback continued into a blowoff bottom

I've been spending some time playing with TOS programming to create and customize my own indicators.  A slick cloud effect should help to better visualize price direction, and a "Thrust Rating" of my own creation to qualify trends and surges.  I'm looking forward to using Thrust to better time my entries into these ridiculous morning

  What? 2.2% drop in S&P futures from alltime highs in three days? Well how ’bout we just fix that back in two?  My morning prediction of ending the Christmas Parade of red-green candles came true with two greens taking /ES to new (intraday) highs.  I’m glad I didn’t have CNBC in case they pulled

Reversal Indicator shows any pullback will be small Even though I view the economy to be a royal mess and in my personal opinion and my belieft that the true value of the market should be no more than 2/3’s of current value since the current value of the market is only as a result

Looks like the 3:30-4:00 pm Daily Ramp has saved the /ES back to support-only mode, with only that record high standing in the way to continued wealth effect for the consumers of America.  We'll ignore, of course, the low volume of that HUGE green candle from yesterday.  Volume doesn't seem to matter anymore, only buying.

Christmas in April…     Quick Glance at the Market Heat Map and Industries   Notables: Not a clean day for the technology sector Utilities and Conglomerates were solid.  Banks and materials, outside of a couple big names, held their own.  Be sure to check out my latest swing trades and overall past performance

The Christmas-like red-green red-green candles continue on. The /ES this evening is starting out as a little green doji, but should end the day green if the ABAB pattern continues.  The short-term trend is down, but Friday’s panic sell bounced roughly around my long-term uptrend.

Pre-market update (updated 9am eastern): European markets are trading -1.8% lower. Asian markets traded in a very wide and mixed range – down on average -0.5%. US futures are down in excess of 20 points on the S&P ahead of the open.  Economic reports due out (all times are eastern): Employment Situation (8:30am), International Trade

A silver lining in the action from the last two days     Quick Glance at the Market Heat Map and Industries   Notables: Banks recovered for the most part. Apple down, market up. Utilities were consistent across the board, materials still struggling to find footing.   Be sure to check out my latest swing

Yup, there are still a such thing as sell-offs…     Quick Glance at the Market Heat Map and Industries   Notables: Of course Apple was up on the day the market had a mass sell-off.  The banks were by far the disaster in today’s market.  Basic materials still piling on the losses.   Be