Pickers’ Market
A few bright spots in a mostly dull market might affirm that fund managers are loading portfolios with only the best stocks to show their customers. There could be other reasons, but we won’t get Read More …
Category: The Breakdown
The Setup
The broader market’s rally off recent lows lacks conviction. Modest distribution Friday gives the finger to recent, modest accumulation. Not much for a bull to hang his hat on, but the technicals have indeed improved. Read More …
Bear Bumpin’
This week, only TAL Education Group (XRS) met our stock screen criteria – and is nothing to consider buying given the dominant bearish environment for U.S. equities. We’re staying bearish for: Lack of upside leadership Lack of accumulation. Read More …
Hangman
Could be tomorrow, could be days, weeks and perhaps months before we can all recognize a discernible top in the broader market’s price action. The steep sell off last week has the type of institutional Read More …
Chop ‘Em Down
Three days of quick and heavy selling strike deep into the market’s heart. Vultures circle a bloodied and stumbling bull. But is it dead? Our bias shifts down to Bear mode. It’s a reflex that Read More …
May Walk
Walk away in May. That’s the adage. But fuck it. Fund managers may take it easy for the summer months, take some vacations, short days etc. But rest assured price action will be unpredictable. Expect Read More …
Bear Blockin’
The Semiconductor Index pretty much gave the Bear the middle finger with it’s whip-snap rally yesterday. Now the Naz is poised to follow suit with a base breakout. It’s mild distribution followed by mild accumulation. Read More …
Free Range
Never wise to short an all time high. These kinda things can turn into melt-ups. Lack of buy volume and confirmation of leadership suggest the Bull may lack fuel to sustain these levels. Market Read More …
Heavy and Compressed
Risk of a breakdown is up as heavy sell volume sets into price action. A collapse in key industry leaders, most recently Apple, Google, Twitter and fast growing cyber security cos., is another strong tell. Read More …
Fight Or Flight
Fifty-fifty odds just aren’t good enough. Just at we breakout, we don’t. Just as heavy sell-vol creeps in, we rally. For this, my friends, we have maintained our Neutral Bias for months. It’s kept Read More …
Bear Shout Out
Honking distribution day Friday, the kind of thing to trigger a sustained sell off. The 50-day moving averages are in play on the majors. We’re holding a Neutral Bias, though will shift down to a Read More …
Balled Up
Beware the contraction in volatility. We’ve been waiting a long time for price action to break. Multiple days of accumulation built into the scene continues to suggest we’ll see a breakout. But never count out the Read More …