Looking Through The Window
We shouldn’t read too much into yesterday’s low volume rally. We’re still in pullback mode, waiting to see how heavy it all may get. We still think tests of the 50-day moving averages are in Read More …
Month: September 2012
Low Expectations
We expect the S&P 500, and broader market for that matter, to head lower for a test of its 50-day moving average. We’ll need to see sell volume dry up to remain bulls. Signs of Read More …
Fate of the Market
Distribution for the Dow and S&P 500 Tuesday gives warning. We’ll consider ourselves in pullback mode until proven otherwise. One day of distribution means little. Any type f meaningful top will be accompanied by more Read More …
Shake ’em Out
Zillow’s (Z) sudden downside move this morning may have been sparked by comments from website Citron Research, which said the company is facing “a day of reckoning.” Who knows, who cares? Trade what is, not Read More …
Tranny RST Setup
A rare Reverse Symetrical Triangle technical setup for the Transportation index. We seldom take these swing trades. Only traders with a high risk tolerance may find something like this attractive. The idea here is put Read More …
Objects May Appear Larger Than They Are
What looked like major distribution Friday may just from volume being much higher due to the S&P rebalancing. Market appears tired at these levels. Expect further pullback on the major indexes. Perhaps we will even Read More …
Quietly Up
A small gap up for the Nasadaq this morning will most likely be filled at an unknown time. This market seems a bit tired, perhaps ready for the weekend already. If it weren’t for a Read More …
Tranny Tumbling
The broad market pullback continues its subtle ways this morning with the exception of the Transportation Index (TRAN.) Watch this key sector for its potential to serve as downside leadership should the entire market begin Read More …
A Pretty Pullback
Bulls are liking the looks of the broader market as its gentle sell off shows little sign of institutions dumping shares en masse. Both the Nasdaq and S&P 500 posted accumulation days Wednesday, where volume Read More …
Notable
Well done, America! You’re paying off your credit-card debt at unprecedented rates! And the result is that the total amount of credit card debt in America is going nowhere. — Felix Salmon, Reuters
EL Maybe
We’re watching Estee Lauder Cos (EL) as a potential breakout for indication of how well the market will treat other, better stocks we like. Quarterly revenue growth of 9.2% (yoy) for this cosmetic maker is Read More …
Slight Distribution
Sellers dominated the day, though were only a touch stronger than yesterday as only the Nasdaq posted Distribution. Maybe the lighter volume from the Jewish holiday yesterday should weigh in here. Dunno. Looking for a Read More …