The 10 day moving average of advance-decline lines are as oversold as I have seen them. Continue reading
Entries Tagged as 'Short Term Market'
Oversold Based on Market Internals
October 11th, 2008 No Comments
Tags: Advance-Decline · Market Internals · McClellan Index
Cycle Turns
October 10th, 2008 4 Comments
Just a quick note on cycle turns. Usually, price changes directions during a cycle turn. Occasionally, price will accelerate to the downside. It appears to me that the government has the opportunity to restore the system. But this is the same President, Congress, SEC, Fed, and Treasury who have made idiotic move after idiotic move in the past year. Please don’t get long just because it appears to be a cycle turn. Continue reading
Tags: Dow Jones Industrial Average · Gann Angle Fan · Market Cycles
SPX Hit 1×4 Gann Angle of 2002-2007 Range
October 6th, 2008 2 Comments
Price of the SP500 Index (SPX) touched the 1×4 Gann angle today and bounced. I am watching a retest of this level closely for a possible low. If price breaks through this angle then the 900ish level is one to watch. Continue reading
Tags: Gann Angle Fan · SP500 · Square of Range
Same Bat-Time… Same Bat-Channel
September 26th, 2008 2 Comments
I got home last night and looked through the charts. There really isn’t anything to discuss that hasn’t been covered. We are waiting for congress to decide what to do. Continue reading
Tags: RUT · Transports · VLE
Nasdaq Price Volatility
September 24th, 2008 No Comments
The price volatility as measured by the average true range (ATR) of the Nasdaq Composite index is at a long term high. This has always led to higher prices. Continue reading
Tags: Market Internals · Nasdaq Charts
Volatility and Highs-Lows
September 17th, 2008 No Comments
Market volatility and high minus low metrics are discussed. Continue reading
Tags: Market Internals
The Limit as “X” Approaches Infinity
September 17th, 2008 2 Comments
Yield curve doesn’t curve any more… Continue reading
Tags: Bonds · Financials
Morning Market Thoughts
September 16th, 2008 5 Comments
Post contains a few charts I found interesting during last night’s analysis. Continue reading
Tags: Bonds · Market Internals · McClellan Index · Nasdaq Charts · SP500 · Square Out
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
SPX 180 Days From March Low
September 15th, 2008 6 Comments
I don’t have any idea which way the market will eventually go this week. But at 180 days from the March low, the time is right for an acceleration or a change in trend. The 1:1 Gann angle will serve as a measurement point that we can use to gauge the market on Friday. Continue reading
Tags: Gann Angle Fan · Gann Emblem · Market Cycles · SP500
Transports Hold Up Well
September 12th, 2008 2 Comments
The Dow Transportation Average has held up well in the face of the recession/depression I’ve be reading about. Continue reading
Tags: SP500 · Transports · Volume
Buyers Remain Uninterested
September 10th, 2008 2 Comments
There is no interest in buying when they are selling at these levels. Volume was down today and price finished on the low side of the SPX and COMPQ bars. My opinion is that SPX 1170ish is almost a given. Continue reading
Tags: Nasdaq Charts · SP500 · Volume
Bank Index (BKX) Holding Up Well
September 10th, 2008 No Comments
The banking index (BKX) is well off the July lows and above the upsloping 50 day moving average. The market always follows the financials. It takes money to make money. If the banks aren’t working then the market isn’t working. As of yesterday the banks have been working since July. Continue reading
Tags: Financials
Time Cycles End Next Week
September 6th, 2008 5 Comments
The time cycle from the May to July ranges and 180 days from the March low occur this week. Continue reading
Tags: Market Cycles · SP500
SPXEW and VLE Heading for Lower Gann Angles
September 4th, 2008 No Comments
The SP500 Equal Weight Index (SPXEW) and the Value Line Arithmetic Index (VLE) charts have broke through Gann angles and are heading for the next angle lower. Continue reading
Tags: Gann Angle Fan · SP500 · Square of Range · VLE
Market Internals Not in Position for a Rally
September 4th, 2008 6 Comments
Multiple metrics show the equity markets are in a very weak position. Continue reading
Tags: Market Internals
Nasdaq Swing at 50% Retrace
September 3rd, 2008 No Comments
The swing chart of the Nasdaq Composite has closed below the support of the upside swing highs. Price is now at the 50% retrace level and not in good position to move higher. Continue reading
Tags: Nasdaq Charts · Swing Charts