The market in my best estimation is probably range-bound between roughly 1,000 on the upside and 700 on the downside, but I would put the risk to the downside. – Jeff DeGraaf, Top Ranked Technician by Institutional Investor Magazine the…
It has been a great summer so far for short-term traders as the market provided at least four multiday swings to ride. Technical analysts, on the other hand, have been flip-flopping from one indicator to another and always seem to…
Technician Michael Kahn has a piece up on Barron’s Online today on the Golden Cross (“Will Stocks Turn To Gold?” (subscription online), Michael Kahn, Barron’s Online, July 1). The Golden Cross is when the 50-day moving average moves above the…
I walked into the office yesterday evening and there was someone on CNBC talking about how the 50-day moving average of the S&P 500 rising above the 200-day moving average was telling us the market was getting ready to rise…
Yesterday’s 200 point decline in the Dow was accompanied by some of the heaviest volume we have seen in a while. On top of that, Monday’s trading qualified as yet another 90 percent downside day, where 90 percent of the…
The New York Stock Exchange composite index was stopped last week at resistance just north of the 6000 level and just south of its 200-day moving average. This is the first time in one year that the latter has been…
Is this what a bottom looks like? This city was among the first in the nation to fall victim to the real estate collapse. Now it seems to be in the earliest stages of a recovery, a hopeful sign for…
With very little technical or fundamental evidence to support it, the market remains resilient. – Michael Kahn, “The Rally That Just Will Not Quit” (subscription required), Barron’s, April 29 (Via BeSpoke Investment Group, “S&P 500 Breaks Another Resistance Level”, April…
This market is way overbought. It’s acting like a lot of people believe a new bull market is underway – but it isn’t. The financials (XLF) are almost 30% above their 50 DMA. (Chart from BeSpoke Investment Group) All the major indexes…