• NYSE Reversal Indicator

    After a pretty solid week, bracketed by two significant moves on Tuesday and Friday, the market heads into a new week having made new highs on this latest uptrend, and poised to move even higher. While we are getting close to one of those “reversal-signals” on the NYSE Reversal Indicator, we are not there yet,

    By |Published On: October 10, 2010|2 min read|

  • Hitting Long-Term Resistance For The S&P

    I’ve been following this long-term resistance level marked by the downtrend connecting the 2007 market highs and 2010 April Highs. We tested this level early this morning after the market responded favorably (initially) to the GDP and Jobs report. Since then we’ve seen a lot of selling come swooping into the markets that’s pushing prices

    By |Published On: September 30, 2010|0 min read|
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    My Thoughts On This Market

    There is a wide range of opinions out there right now concerning the direction of this market. Just from those who comment on this blog and follow my twitter feed, I’ve seen a lot of diverging opinions. For one, there has been some bearish divergences popping up on market indicators, particularly the McClellan Oscillator, which

    By |Published On: September 28, 2010|3 min read|

  • NYSE Reversal Indicator

    Last week when reviewing this indicator, I mentioned that I was a bit concerned about the early reversal signal (against historical norms) that the NYSE Reversal Indicator was giving off. But last week’s action confirmed the move, and we are advancing into overbought territory once again. After breaking through the 1130 level and confirming the

    By |Published On: September 25, 2010|2 min read|

  • Look at the S&P Hourly Chart

    Market is all over the board today, selling off considerably on the jobless claims, while the housing report gave the bulls some renewed energy. The market is trying to close lower for the third consecutive day, but there doesn’t seem to be any substantial profit taking at all right now, and frankly, I’d like to

    By |Published On: September 23, 2010|1 min read|

  • Where Do We Go From Here?

    By |Published On: September 21, 2010|1 min read|

  • NYSE Reversal Indicator

    Here’s an update on the NYSE Reversal indicator. Much has changed since the last time I posted this indicator. Being short, one thing that that has me concerned is the reversal seen below before hitting the bottom of the range. It doesn’t happen often, but when it does, I become concerned that it could be

    By |Published On: September 18, 2010|2 min read|

  • Bulls Continue To Frustrate The Bears

    By |Published On: September 16, 2010|1 min read|

  • Gunfight At The S&P Corral

    By |Published On: September 15, 2010|0 min read|

  • Bears Last Stand On The Horizon

    This is probably one of the most disturbing developments for the bears on the S&P and that is an inverse head and shoulders formation that is nearing completion. For the bulls to confirm this pattern, it will have to breakthrough the 1130 level, which is something it hasn’t managed to do since April and repeated

    By |Published On: September 10, 2010|1 min read|