T And Why We Look At Both Daily And Weekly Chart
If you only look at daily charts you might be a SELLER too early. The daily chart for T is quite ugly as the slide below the 20 DMA and 50 DMA has continued. Long term oversold on daily chart. The weekly chart has T inside our long term bounce zone with 35.90 as the […]
After The Towel Is Thrown
Bill Ackman had a famously bad time with Valeant Pharmaceuticals (VRX), which crashed from $263 to the single digits. Last March, having suffered terrible losses for his fund, Ackman “threw in the towel” and dumped his position, prompting even Gartman to chime in. So did the stock instantly soar higher? No, that would be a little too […]
Lemme Know When The Russell 2000 Gaps To New Highs
Really. Not a whole lot more to add about my dog’s just expression until something dramatic happens. We both seek excitement. Surely for her, excitement comes in the form of a treat or a walk. Yet I do not underestimate her commitment to the markets. After all, she sits faithfully by my side each day […]
Tech Market Technicals Turn Net Positive
Two days of gains have helped re-establish the bullish technical picture for tech indices, Nasdaq and Nasdaq 100. While the improvement was welcomed it didn’t come without a price. The Nasdaq broke through declining resistance but also left it itself wedged beneath the former rising channel. If there is a chance for shorts, then tomorrow […]
S&P 500 Snapshot: Up 9.34% YTD
The S&P opened above this week’s previous daily opens and briefly oscillated around a narrow point until it steadied and closed the day with a small gain of 0.19%. The index is up 0.93% since last Friday and up 9.34% YTD. The U.S. Treasury puts the closing yield on the 10-year note at 2.35%. Here […]
Yellen Sings A Dovish Song With Brainard
Janet Yellen’s testimony before the House committee was what drove markets on Wednesday. The key takeaway from the testimony was that she was moderately more dovish than she was previously. This dovishness led to a rally in stocks and bonds. The S&P 500 rallied 0.73%, the Russell 2000 increased 0.80%, and the VIX fell 5.42% to […]
SeaSpine – Chart Of The Day
The Chart of the Day belongs to SeaSpine Holdings (SPNE). I found the medical technology stock by using Barchart to sort today’s Top Stocks to Own list first by the most frequent number of new highs in the last month, then again by technical buy signals of 80% or more. Since the Trend Spotter signaled a buy in 5/9 the stock […]
Warnings Of A Frothy Market Rise Along With U.S. Stocks
U.S. stocks were on track for a new record on Thursday as Fed Chair Janet Yellen’s testimony made bulls feel even bolder than they have for most of this year. The strong gains are even more timely, given one economist’s warning that developed countries may be in or nearing frothy market territory. He highlighted the symptoms of froth he […]
Speculators Sour On Gold And Silver, Which Means The Bottom Is Near
The stars — in the form of smart and dumb money futures contract positions — have once again lined up favorably for precious metals. Here are those positions for gold and silver as of Tuesday the 4th. Notice that speculators (the dumb money) got a lot less optimistic — that is, less long and more […]
Treasury Turmoil Returns As Fed-Flip-Flop Sends Stocks To Record Highs, VIX Below 10
Yellen’s speaking again… give it all you’ve got!! Stocks stalled early on (around 1010ET) thanks to inflation comments from Yellen, but that dip was bid back to the highs… then they took a little spill when Fed’s Brainard admitted “asset valuations do look a bit stretched” around 1400ET. Once again the rally-monkeys came out – […]
