The market started the day nicely climbing in the first few hours … with the SP500 up almost 1% at one point, but by the close of day all the gains were stripped away and we close the day flat. Volume on the climb up was again … lacking. So far my analysis has definitely […]
Although today was a REALLY nice percentage rally in the markets, I left with a foul taste in my mouth. Definitely very little conviction in the buying. The volume is just not there. Obviously stock market movement is based on supply and demand; the market can move up (short term) because there are lots of […]
The market looks very broken. For the past four days, we have had strong openings following by a weak closing. This generally equates to bargain hunters seeing a good deal overnight, then at a certain price point large sellers are coming in to unload more of their shares. A healthy market generally will do the […]
Friday’s close was a classic example of what I have been seeing and preaching for about a week now. This is a ‘wait and see’ market. The bulls are not willing to assert themselves, and the bears although more aggressive than the bulls, are also not sticking their necks out very far as well. Certainly […]
Today was relatively quiet with slow, boring price movements (which I like to see). With that said, the movement was generally bearish in nature. We opened up nicely and more or less spent the rest of the day falling. We did hold nicely above the low from yesterday, but the lack of volume on the […]
The Nasdaq all in all had a mildly successful day, but failed to hold above the previous low, which was an important level. Although it has been obvious that we have been in a downtrend for a few weeks now, we officially have a lower high and lower low as of today. This action notches […]
Although I would be surprised if we don’t have more downside over the next month, it looks like we might have put in a short term bottom. Yesterday, the nasdaq putting in a new low intraday, just barely undercutting the previous low from early March (noted by the red horizontal line above), but closing near […]
Many of you have encouraged my daily (and intraday) analysis and I appreciate your continued ‘push’ and words of encouragement. I have taken some time away from the blog, just got busy with my own endeavors, but with that said, I hope to get back into writing on a daily basis. Feel free to send […]
Looking at the past four days price action, we might have seen stalling action, but not necessarily bearish action. Although the bears have had plenty of opportunity to get ‘busy’, they are currently sitting on the sidelines which is helping the bulls. But, there doesn’t seem to be any buying occurring as we are stalled […]
very little action has happened since one week ago, we are certainly consolidating as prices is getting tighter and tighter. What that means from a psychology point of view is that 1) there seems to be an agreement on what is the correct value of the market at this moment, both bulls and bears are […]