The 52 Week new highs chart has turned bullish over the last few days. The number of succeeding stronger bars and the 5 DMA have shown signs of underlying market strength. The pattern setting up is similar to the pattern from the October lows from which the 52 week new highs fired a...
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BTS is showing that the markets are currently overbought and the mechanical trading system is looking for a short entry. Based on Friday’s close, BTS is suggesting that a close below 1078.60 on the $SPX would be a high probability short going into next week. BTS has issued 3 trades so far this...
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On December 5th I published an article called How does the DOW perform after the unemployment peak? In the article I printed the following chart: The chart suggested that an expected 3 month return on investment in the DOW on November 30th, 2009 (current peak unemployment) should on average produce a positive gain...
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Good morning, a fresh new rally for the dollar to new highs today has sent our overnight futures down, oil down and the dollar up. Here is how the markets around the world are looking: Asia Happy new year to our Chinese friends. We hope they enjoy their weeklong celebration. The...
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The Beehive Trading System (BTS) closed it’s third trade of the year making a 3rd successful trade in a row. A conditional trade exit signal was issued for February 11th with the criteria of the S&P 500 index closing above 1072.65. Today’s SPX closed at 1078.47. Beehive is a mechanical trading...
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Good morning. The markets need to decide this morning if they want to move on to 1080 or go and see how firm that bottom was we put in place at 1044. The world: Asia Europe United States Economic news Watch those Jobless...
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Going through the charts this morning we have putt in a neutral score at this bottom. A positive day today should slam the charts to bullish. Around the globe: Asia Green finishes for both indices. The Japan put up some strong factory orders showing some real growth. China is getting...
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With the trading signal moving from extreme oversold to neutral the Beehive trading system issued a market long position today on the close. This is the 3rd signal this year with two signals issued in January both with gains. The entry was bases on a close of the S&P 500 above 1069.36...
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The markets are again showing signs that an oversold rally is coming. Let’s work our way through the numbers: Asia China has a nice rally last night finishing strong and pulling Japan back from what would have been a much larger red close. Europe Europe is weakly...
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In so many ways today is recovery day. The market is in recovery mode, many of us are recovering from Super Bowl Sunday and I am recovering from a TradeStation re-installation that has put me a weekend behind. So there isn’t much comment along with today’s post as I am behind schedule and...
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