![Head and shoulders target for $SPY to 120 by Labor Day?.. a case [Chart]](http://redliontrader.com/wp-content/uploads/HeadandshoulderstargetforSPYt.acaseChart_8383/image_thumb.png)
I want to make a case for a $SPY target to 120. Sentiment could not be worse so often that is fuel for a rally we are just missing an ignition source. Chart wise we could trace out the following pattern on the SPY. The pattern would require a sell-off over the next...
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Good morning. No breaks for the bulls. A little green yesterday from a grind up that was wiped away by overnight action. The dollar hit an overnight low at 82.40 and has rallied up .63 to 83 area and the futures have sold off accordingly. Economic news overnight looked ok. The German PPI...
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Score: +4 The Nasdaq has joined the NYSE on the bull side of the signal line. The RUT remains just below. Tuesday will set our fate as we wait for instructions from the market on what the new trending direction is. Video: How to interpret 40 DMA % Index Download: StockFinder 5.0 – 40...
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Score: –6 10 Day high minus lows’ bearish tone was set in stone on the down move today. The NYSE still has not crossed into negative territory but its lower daily and downward momentum indicator have it as well as the weaker Nasdaq and RUT on full bear signals. Video: How to interpret...
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Score: +0 The 52 WHNs put in a neutral 0 score but did so by each index putting in a completely different score. A mark of confusion. The NYSE turned bullish today (+2) the RUT whet from bearish to neutral (-0) and the Nasdaq remained bearish (-2). Not sure when that happened before. ...
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6:43Am and we have a nice gap developing. We are post OPEX Monday, a day with terrible seasonals, in the middle of the peak of Q2 earnings seasons with a deteriorating economy that is on a verge of a double dip recession lead by housing and the bulk of the economic news this week...
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For fun I have run the numbers on buying and shorting Friday OPEX closes that exceed 2% pullbacks. So here’s the question.. would I be better off buying or shorting into Friday’s close looking at a 10 day window and what are the parameters for doing so. My strategy inputs are: Long...
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I have been doing my daily countdown to see if we could get a Zweig buying thrust from the oversold to overbought area (it needs to travel the distance in 10 day to be official). We still have one more day left but mathematically now it is impossible. If we were to get all...
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This is our market map for the week in 30 minute slices. On Monday the Semis took off on Intel expectations which did not disappoint and led to a rally top on the Wednesday open (about 4.8% weekly gain) that sold off for the rest of the week and dissolving to only a 0.6%...
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Score: -6 The bulls lost the daily and the upward momentum on the 52 week new highs on Friday and now all is pointing in the downward direction. The Russell 2000 was particularly alarming with a dismal 3 on the day. The 52 week new lows perked right up and are once again eclipsing...
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