This chart, using my scoring rules, would score a -2 which is slightly bearish. (The scale goes from -6 to +6, negative being bearish and positive bullish). The thing is though, it is very close to scoring +6, in fact had we not had that last 15 minute sell-off into the close on...
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Banking ended positive on the week and that bodes well for bottom searching here. The sell off all day Friday in that sector is a little disconcerting but between Tuesday and Friday morning the sector had made a counter market move of almost 4%. Weakest for the week was the Nasdaq composite, the Russell...
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This is the 40 day moving average index. $$ The value represents the percentage of symbols on the NYSE that are currently above their 40 day moving average (DMA). Right now only 30% of stocks are above their 40 DMA. We are now in the oversold area on this index and a...
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It is the end of the week and end of the month. A month that has seen its highs and lows. Last night around the world : Asia Japan and China both had a rough time last night. Japan closed on its lows of the day while China rallied off its...
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The 10 day high minus low indicator for the NYSE is the difference of the percentage of stocks making 10 day highs and 10 day lows. The index created is a nice breadth indicator showing the strength of the underlying markets. As of January 28th this indicator for the NYSE is showing a...
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The President last night called for a new beginning and maybe the market will give him one today. The rally into and out of the FOMC meeting yesterday had some legs and overnight kept running with some weakness introduced by Europe. Around the globe: Asia Japan and China rallied out...
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I have updated my trader pivots indicator to work better with futures. Sample chart of $SPX.X with pivots enabled. (click on image to get a larger version). These are the traditional pivot calculations. ShowTodaysOHLC = if set to TRUE will plot today’s open, high and low lines ShowYesterdaysOHLC = if...
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Two major events today besides the FOMC announcement. Apple introduces some tablet like computing device and President Obama delivers his State of the Union address. Both events are being looked forward to. Hopefully the Apple announcement will inspire a vision of forward moving technology. If Apple is able to define a new...
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Eyes were on Apple yesterday as they announced their year end quarter profits. Up big. Blew away expectations on the top line and bottom line. All was well… right? Opps, a little asterisk on the score card announcing an accounting change on how revenue from Iphone subscriptions are realized. That twisted the market’s...
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Tom has the focus on Apple and I think that is a great focus spot. We are currently gapped up big pre-market and waiting to see if the gap holds. The rest of the world this overnight has done a nice job holding on to small losses: Asia Although the indices...
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