While the NYSE clearly shows weakness compared to yesterday, the NAZ and RUT are showing some surprising strength in there. The NYSE one minute ticks are currently in an uptrend, while the other breadth indicators have moved from bullish to bearish based on the weak opening. The strength today is in the RUT...
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Germany over the last few day has produced some fairly weak and disappointing economic numbers. It’s month over month factory order numbers showed a decline of -2.4% and when charted shows a steady decline from the summer top. This certainly sets-up worries of a second dip here and tell us that the economy in...
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Something has to give here.. All we can do is scalp during the day for a few cents while we wait for either the bulls to take control or for the bears to dominate. The other of my breadth indicators are setting up to really test this market tomorrow. With a strong open the...
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.. While today was a little sideways compared to Friday the direction is still clearly above it’s moving average and heading into the strength, although a single bad day can dunk this baby below the water line in a hurry. We will watch intraday tomorrow. Unlike the 52 Week Highs and 10 Day High-Lows...
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The way the charts are setting up, today was weaker than Friday but still strong enough to maintain the momentum. Tomorrow however the data needs to be much stronger so we need to come out of the chute with new-highs-a-blazing. There is no econ news out to help, maybe a merger? maybe Europe or...
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Our new highs, all three made their hurdle bars to keep the momentum pointing to long but all three also failed to extend a higher bar than the previous day. That puts the long on notice and tomorrow’s hurdle bars are quite high so we may be reaching a top here of the New...
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The New 52 week highs (NYSE, NAZ, RUT) all closed on Friday with higher bars. Today’s target numbers to keep the upward momentum are fairly low, tomorrow begins the tough momentum proving days. For the NYSE I have a end-of-day (EOD) target of 61, that means about 30 in the first half hour. NQ...
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We closed Friday with a slight bias and momentum building on the buy side. This mornings weaker open will be a test to see if those late Friday buyers were correct or not. Watch the ticks today to see how they set up. Thank you for subscribing.
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I did some research this Saturday morning on how the DOW performs after we hit an unemployment peak. This research assumes that November was the unemployment peak, which it certainly may not have been, we will not know for a few months. (It looks to me that 3 months will give us a pretty...
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..our 52 week highs have put in an impressive 5 day run here, wish the price action was following. For this market, these runs have reached their peak at 7 or 8 bars in so we should be close here to turning for a correction… Thank you for subscribing.
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