Thereisnotmuchtosay...bearsincontrolalldayandsellingisacrossallsectors.Almostallsectorsdroppedbelow5maandonlyafewstillholdsabove10ma.Thevolumewasaverageexceptgoldandenergysectors.ThisbigdowndayputSPXnear.50fiboofrecentlyrally.Onethingtonoteisthatallsupportarejust"potential"supportandcanonlybefoundafterthefact.Tradeatleastwiththeshort-termtrend,andonlyusesmalloptionmoneytobottomfishifyo...[
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SPXpulledbackafterretracingtofibo0.5fromDechigh.Financialandrealestatesectorspulledbackwithlightervolumeandshort-termuptrendareintact.XLF,however,reversedyesterday'slight-volumebreakoutanddroppedbelowthetrendline.Retailerswerehitharderbutstillfoundsupportat10-dayMA.Transportationpulledbackwithoutviolating5-dayMAbutthevolumeincreased100%,notagoodsign. QQQQdroppeddeeperwithshorttermdowntrendest...[
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Afterall,lifeisimperfect.Patriotsbroughttoomuchpressureonthemselvesandthemomentumwasgonetonight.Still,myhatofftothegreatteamandagreatseason.Mywishesarewithyou.
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(NUMBERSAREUPDATED)
Duringthiscorrectionorbearmarket,SPXhasfoundstrongsupportat.38fibo(startfrom2003bullmarket).NowSPXhasretraced.50fromDechigh,itisimportanttowatchwhereitgoesnextweek.Willitretraceto0.5(1423)or0.68(1460)fromOcthighbeforepullingback?Hereisasimpleprediction:SPXtouches1423nextweekandpullbackto1345andthengoesupto1460,beforeitstartsabigCwavedowntoalongbearmarket.Nextsupportsshouldb...[
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Bullshadanothergreatday,nowthebadnewsdoesnotseemtomatteranymore.MaybeFed'sactionsandtheelection-yeareffectalreadyhavepositiveimpactonmarketfundamentals,andthereisprobablytoomuchsidelinemoneyeagertogetin.Nomatterhowmuchwewanttoseeanotherlegdown,wehavetorespectthemarket.Wewereafraidofabankruptcyfromafinancialinstitute,suchasCorMBI,butnowitseemslikeadistantmemory.
Marketisgivingmixedsignals-pre...[
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ShortedPOT/RRCasplanned,couldbeabittooearlyasmarketrushesupdespitebadjoblessdata.OtherrisksmayincludeagriculturalpricecanbeboostedbyChina'ssnowstormthateventuallyhasimpactonfertilizersection.Justbecareful.[
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$CRBprintedahangingmantodayandlookslikeithastoppedwithRSI/MACDdivergence.DBCshowssimilartoppingsigns.
DBAonagricultureisalsotopping,largeRSIdivergenceandADXisdivingfast.NowitshouldbeanotherchancetoshortCF/AGU/MOS/MON,whichallhadagapupdayonJan24thatwillbefilledbythecomingdiving.
Thesameistruefor$GOLDasIpointedoutearlier,anditschartshowsathree-crowspatternindicatingalargedivecoming.Shor...[
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400pointswing!Aquestiononmanypeople'smindis-isthisafollowthroughdayandanofficialbeginningofanotherbullmarket?OrisitjustinthemiddleofBwave?Volumesaresimilartoyesterday'sandarenotquiteimpressive,maybemorepeopleareholdingofffortomorrow'seconomicdata.
Whathavefueledtoday'srally?TheassurancefromMBI,aleakagefromtomorrow'sdata,oranattempttopriceinanotherratecut?
http://www.minyanville.com/ar...[
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GOLDlookstoppyandthestockmarketmaybecomemoreattractiveatthispoint.
GGhasnotbeenabletopassresistancelineandhasanunfilledgapunderneath,makingitagoodput.
ItisasmallpositionandanAprilput.Wewillsee.[
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