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Equilibrium …. or gaps to fill?

As of this morning’s open, the market is very close to where it started the year (S&P 1115), but also shows three promising unfilled gaps to the downside for aspiring bears to shoot for:

It may be awhile before we get down to the 1050 area and fill that September 1st gap, but the […]

A gap to shoot for? (SPY)

Today’s earnings season-fueled optimism has created a nice gap in the SPY to shoot for — down to 1078 or so. With RSI (2) currently at 99.07 as I write this, looks like a good bet for a bear to take . . .

Why you shouldn’t fall in love with a stock — (TLAB)

This chart is a good example of why investors shouldn’t fall in love with a stock that has treated them well — the inevitable breakup can be nasty indeed!

A buyer of Tellabs around New Year had plenty to crow about, especially after their earnings report in April — but that gap filled in a […]

Is it news or technical analysis? — (BP)

Fascinating chart of beleaguered BP, which raises the eternal question of whether fundamental or technical factors are primary in stock price swings. Obviously, BP has been dominating the news lately, with the latest failure to cap the Deepwater Horizon well causing another 10% haircut this morning.

But was a drop fated anyway by that massive […]

Insider trading at Disney? -- (DIS)

Lets take a look at Disney stock, on the heels of the news that two persons have been arrested for allegedly trying to sell confidential information on the company to hedge funds. DIS looks like it followed the long Feb.- Apr. grind up in a typical fashion, fell victim to a rogue trade or two […]

Not safe to get back in the water!

The above is just a rough idea on where a down trend line might be drawn on this week’s data. With so much technical damage out there, and that weird spike from Thursday popping up on almost every chart, I wouldn’t want to reposition to the long side until that downtrend line is taken out […]

Seeing red as markets go reeling

Well, this is a day that is long overdue in the old equity markets! Just a few minutes before the close, it is certainly looking like a big distribution day. Lets take stock of the damage done: This chart shows the trendline from the February lows (black line) clearly broken, the 20-day SMA (red line) […]

Gaps to fill on the way down — ($SPX)

The unrelenting grind of the market upwards, to my view, has left only two important gaps (around 1125 and 1080) on the S & P 500 to fill on the next trip down, and they are getting more and more remote by the day. Bears shooting for either target have been brutalized all month, […]

What would it take to break the current uptrend?

Since February 5th the market has obviously enjoyed a ripping rally, tempered only today by a small pre-Fed retreat. What would it take to declare this rally done for?

I’ll offer my best guess, based on the lower trend line drawn above: Somewhere under 1130 on the S&P 500, or another 13 points or […]