Anyone thinking we might be primed for a substantial leg down on the S&P 500 will find this chart interesting: We’ve broken through the 10 day moving average, but holding the 20-day as this is written. In 2010, the two crossover points for these moving averages — a sell signal on January 25th and a […]
Today’s close brings to an end an amazing streak of 36 trading days that the two-period RSI has closed above 30. The last day for a close under 30 was February 23rd:
One down day has spiked the VIX, and apparently shaken some of the complacency out of the markets. It’s the largest increase in the volitility guage since the end of February.
With the markets in full retreat mode, RSI (2) has fallen all the way to 16: Makes me think about the possibility of doing some profit-taking towards the close today.
Its been a month since I looked at Potash Corp. of somewhere up in Canada, and I got a chart request on it, so it is certainly time for an update. On March 12th, I asked if the gap up at the open might portend the formation of a nice and profitable bullish cup-with-handle setup: […]
With today’s rebound (itself a miniature melt-up from first hour lows) the SPX has now spent 31 trading days, or if you prefer, 44 calendar days, without dipping below 30 on the RSI (2) indicator — a feat that is pretty much strength personified: Another view that shows the amazing spring strength of 2010: Gotta […]
A large scale project at my job has kept me away from the trading wars for an entire week, during which time the market has done little but ascend to recovery highs: Traders who somehow pegged February 5th as a major turning point are looking pretty good, while the sidelined, like myself (for whatever reason) […]
Looks like 1150 on the S & P, which is also former resistance, is the new target for those looking for an end to the February 5th rally.
Remember what you were doing (or how you were feeling) on Wednesday, October 1, 2008? That’s the last day the S&P 500 was around the 1170 level, and at that time it was on an express train straight down. The presidential election was a little more than a month in the future. The baseball playoffs […]
In honor of St. Patrick’s Day, a chart full of green! RSI (2) is green for March, and sits at 99.72. One of these days, the bears must come out and play!
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