The Dow Jones Transportation Average (TRAN) drops over 8% today and 12% for the week. This is the first signal of the recession that the economist have promised us. Continue reading
Entries Tagged as 'Daily Market'
Charts Finally Show Upcoming Recession
October 2nd, 2008 6 Comments
Tags: Growth Stocks · Market Cycles · RUT · Transports · VLE
Lower Volume Move to Middle of Weekly Bar
September 30th, 2008 1 Comment
Volume was lower today and price retraced 50% of yesterday’s move which is not bullish. The put/call and VIX is still up but I don’t think we have seen the low. Continue reading
Tags: Market Internals · SP500 · Volume
VLE Testing July Low
September 29th, 2008 No Comments
The VLE is testing the July low which could hold. But the odds are against it. Continue reading
Tags: Nasdaq Charts · VLE
Price Bounces off the 50 Day Moving Average
September 23rd, 2008 7 Comments
Ignoring all the extracurricular activity, price has bounced off the 50 day moving average as expected in the SPX and COMPQ. Volume is suspect, but lower on the pullback. Continue reading
Tags: Nasdaq Charts · SP500
Ignoring Volume - Price Only Important Data
September 22nd, 2008 3 Comments
Today was a lower volume down day. But since shorting has been significantly reduced, who knows what the volume means? Price is the only thing that matters at this point. The low of last week is the swing low to watch. Price can move down to the July low and I expect weakness into October. But this is not time to get brave. The bottom could fall out on the October 10th. Continue reading
Tags:
Another Ho-Hum Week with Little SPX Movement
September 19th, 2008 5 Comments
The SP500 Index ended this quiet week right where it started. Not much to say… Continue reading
Tags: SP500
Definitely Buyers Today
September 18th, 2008 2 Comments
There was definitely buyers of stocks today with a big range massive volume up day. Continue reading
Tags: Financials · Nasdaq Charts · SP500 · Volume
Internals Looking Good So Far
September 15th, 2008 No Comments
Today’s drop was not without high volume and fear. The VIX was over 30 today. It should spike higher in the morning unless some news removes the fear. The put/call was very high. The equity put/call was even higher. The new lows today were less on a new price low than previous price lows. Continue reading
Tags: Market Internals · Volume
Double Bottom Accumulation Day on SPX
September 11th, 2008 No Comments
The SPX and COMPQ had accumulation days after a big gap down today. Both remain below the 50 day moving average and I am not ready to call a bottom without real buying next week. Continue reading
Tags: Accumulation Day · Double Bottom · Nasdaq Charts · SP500
Reversal Day on Lower Volume
September 5th, 2008 No Comments
The markets reversed the gap down open on lower volume than yesterday. Continue reading
Tags: Distribution Day · Nasdaq Charts · SP500 · Volume
Second Distribution Day in a Row
September 3rd, 2008 No Comments
A move up was sold on high volume. Price has not yet broken the 50 day moving average yet. Continue reading
Tags: Distribution Day · Nasdaq Charts · SP500 · Volume
Another Low Volume Nothing Day
August 25th, 2008 No Comments
After another low volume down day, my assessment is the upside needs to prove it to me. Continue reading
Tags: Distribution Day · Nasdaq Charts · SP500 · Swing Charts · Volume
Now That’s Some Weak Volume
August 22nd, 2008 No Comments
The daily Nasdaq Composite (COMPQ) chart shows some good price action but very weak volume. Everyone really is on vacation. Continue reading
Tags: Nasdaq Charts · Volume
Volume Buying Picks Up in the Afternoon
August 20th, 2008 No Comments
Today was a high volume up day versus yesterday. Volume was still under the 50 day moving average but it should pick up tomorrow if we are moving up. Price hit SPX 1261 which was close enough to the 1260 retrace lines I discussed yesterday. Continue reading
Tags: QQQQ · Square of Range · Volume
Nasdaq 100 Bouncing Off Gann Angle in Overbought Market
August 19th, 2008 No Comments
The Nasdaq 100 had a low volume down day and is in the process of working off an overbought condition. Today was a minor distribution day. Continue reading
Tags: Advance-Decline · Distribution Day · Gann Angle Fan · Market Internals · McClellan Index · Nasdaq Charts · Square of Range · Volume
Low Volume Nothing Day
August 14th, 2008 No Comments
Equity indices were up but on low volume. The big buyers (or sellers) appear to be waiting until August options expire. I guess they have them where they want them. Everything is below the Monday high. Continue reading
Tags: Volume
Another Good Day for the Nasdaq Composite
August 11th, 2008 No Comments
The Nasdaq Composite climbed on higher volume today while the SP500 Index (SPX) rose on lower volume - which maybe be due to more big cap energy issues in the SP500 than on the Nasdaq. Continue reading
Tags: A-B-C Correction · Energy · Growth Stocks · Nasdaq Charts · RUT · SP500 · Volume