Much has been said and written this week at the event of the crossing of the 200 day moving average, a traditional demarcation of bull and bear territory. I have not had a lot of time to do research, but I did put my eyes to the charts last night and this morning to...
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Since Monday’s 10:15 candle close we have been trading in a fairly tight range between 940.50 and 948. Yesterday we spent the afternoon skimming along the top. So today we will watch for a breakout of this area which will be necessary to climb to the next level, but first this morning we...
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I have some very exciting news for those that follow me and have used some of my work. Starting on June 1st I will be partnering with Tom Malone (TomTheTrader) at TTTHedge.com. Tom is the best tape reader I have every met, his style and skill complement my trading style perfectly. We offer two...
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Is it over? How will we know? The answer of course is we don’t, but we can get clues from near past behavior. Following is a spreadsheet of the state of the the current pullback in several indexes. You can see that we are right near or at the statistical average of all the...
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Those of us who use the trin on an intraday basis know about its glitches as large volume stocks move from the advancing column to the declining volume or versa-vice. On Thursday this happened when Citigroup hovered around the previous day’s close. It caused the trin to shoot across the magical 1.00 level from...
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Wow, this is a historic bull run. The breadth of the recovery is astounding and the ZB indicator shows an unprecedented 6x overbought condition this year. How unusual is that you ask? I quickly eyeballed back 20 years and could only count 15x that the indicator displayed overbought. This year alone we have had...
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Since about the middle of April I have decided to become more disciplined about my scalp trading. I have a small TradeStation account that I scalp in. I have in the past, and still do on occasion use it to hedge what I have in my main trading account at E*Trade, this sometimes leads...
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Our Zweig Breadth (ZB) indicator fell short today of going overbought. I thought that the 875 area was going to hold or even burst through and that we would get another overbought on the ZB. This leaves open the possibility of either another day to set a higher high in order to get into...
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The Zweig Breadth indicator is about to go overbought again! T Thank you for subscribing.
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