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The week that went nowhere

A week that has the biggest up day since December 1st, plus a jobs report trade, must have ignited Wall Street with fireworks, right? Well, not of you look at the weekly SPY chart: We ended up almost exactly where we began. Maybe a roller coaster ride along the way, but really no net gain […]

Woulda, Coulda, Shoulda gone to Disneyland

Woulda, coulda, shoulda doesn’t get it done.

Certainly not in the equity markets.

So I won’t kick myself for not getting on board the Disney train yesterday: Though that was a nice pop for DIS, in the end I just didn’t feel either bullish or bearish on playing their earnings. I’m not mad about missing […]

A streak is broken

Believe it or not, today was the first day

since November 30th

where the market has dropped 1.0% or more. Quite an impressive run.

Total equilibrium!

Has the stock market, the ultimate “body in motion,” finally reached its proper resting point?

On the S & P 500, the highest intraday point reached in October 2007 was 1576.09, with the lowest recent reading in early March 2009 at 666.72:

That averages out to 1121.41, almost exactly where we are now after Moday’s […]

The pitfalls of using technical analysis on major market averages

I’ve commented here before on how tough it is to apply the principles of technical analysis to the market as a whole, rather than to specific stocks or ETFs.

A great example of this is the so-called Death Cross (50 day MA dropping below the 20-day MA) that formed in early July:

Amazing how […]

Trendline pinpointed the end of the spring rally -- (SPX)

Weekly updates on the state of the latest downtrend have been posted here lately, along with my own warning to tread lightly on bullish trades until the trendline is broken on a close.

The value of this approach to trading is shown by looking back to the end of the spring rally, and using the […]

Weekly update on the downtrend -- (SPX)

We are now six weeks from the market high when SPX touched 1220 on April 26th. The important levels to watch on any bounce are all coalescing around the same area; the top of the trend channel at around 1110, the 200 day moving average, which has provided strong resistance in the last week is […]

The day that the Fat Finger sold in May . . .

Sell in May and go away? The day a fat finger erroneously sold billions? No matter how you look at it, this was a day to remember (or maybe to forget)!

For those of you who believe gaps are always filled, the two on the S&P I have been watching (1125 and 1080) were filled […]

Ten and twenty doesn't hold -- ($SPX)

Needless to say, today’s slamdown was loooooong overdue; the question now is whether the failure to hold either the ten or twenty day moving average portends the end of the Feb.-March-April part of the rally, or just gives the buy-the-dippers a better dip to buy into.

Looks like February 13th was the last day we […]

We can’t wait for Monday morning to buy stocks!

How long ago was it that everyone was terrified of holding stocks over the weekend?

Now the prevailing attitude seems to be “This is so much fun, do I really have to take two whole days off?”

Yes, you do. Enjoy!