HUI Vs. SPX
This is an updated view of a chart that was created so long ago I can’t even remember it. I just found it rummaging through a chart list. Anyway, it is untouched from its original creation, which was long before HUI lost the first support level at the green dotted line. Look where it sits […]
Roger Babson’s Ten Commandments For Investing
Some friends and I were discussing Roger Babson earlier today. As you may recall he was an MIT trained engineer who became a famous stock market analyst and financial theorist. I have acknowledged in the past that my own particular style of charting was in part inspired by his approaches to force and resistance. He never really […]
Don’t Wait For Gold’s Official Bottom To Buy
Greg Hunter of USAWatchdog interviewed Peter Schiff last week about the new highs in the stock market and what the positive financial news really portends for the United States economy. Peter also shares his thoughts about a bottom in the gold price. Here are some highlights from the interview: They don’t actually understand the fundamentals. The big […]
Positive Economic Data And Earnings Send Markets Higher
Four big pieces of economic data were released this morning, all showing a strengthening U.S. picture. The Consumer Price Index (CPI), the most widely followed measure of inflation, came in flat month over month (MoM); the Estimize consensus was looking for a slight decrease of -0.07%. Core CPI, excluding certain items like energy and food […]
Breadth Divergence: Are The Bulls Missing This?
Negative/Bearish Divergence Yesterday, we covered an analysis about a potentially bullish signal in market breadth. A common form of feedback was: What about the divergence between market breadth and the S&P 500… doesn’t that look like October 2007? The present day divergence is explained in the chart below. A Showstopper For Bulls? In this article, we are […]
Coffee Could Get Much Cheaper If This Fails At (2)
CLICK ON CHART TO ENLARGE I’ve enjoyed sharing chart patterns and sentiment over the past 18-months on Coffee. Coming into this year, Coffee had done poorly and few investors were bullish the product. Then BAM… Coffee shoots up 100% in a couple of months. I was deeply honored when co-founder of Stocktwits, Howard Lindzon, gave […]
Abe Calls Election Because Of Revolt In Ruling Coalition
Last night, I started to write a post on Prime Minister Shinzo Abe’s call for a “snap” election in Japan, which will likely be scheduled for Dec. 14. When I awoke this morning and prepared to finish the post, I noticed Zero Hedge beat me to it and nailed it to boot. No reason to reinvent the wheel. Notice that […]
Market Commentary: Averages Climb Into Green And Trade Sideways
Written by Gary Nice recovery Mr. Market. The averages climbed out of the morning doldrums to sit nicely in the green by the noon hour. While the DOW remains flat the other averages have melted up over +0.4%, but on falling volume sometimes hitting anemic values. By 11:30 the averages hit their high points and started […]
Initial Unemployment Claims Stay At Bubble Record Levels
The headline, fictional, seasonally adjusted number for initial unemployment claims came in at 291,000, which was not materially more than the Wall Street economist crowd consensus guess of 285,000. That was a non event. The actual, not seasonally finagled numbers, which the Wall Street captured media ignores, shows claims continuing at all time record levels on the basis […]
3 Things Worth Thinking About (Vol.18)
Stock/Bond Ratio Not Confirming Rally Following the October swoon, stocks have vaulted to all-time highs. As I discussed previously in “Sentiment Is Off The Charts Bullish,” there have only been few occasions where investors have felt so “giddy” about the financial markets. Such periods of exuberance have never ended well for investors as they were deluded by near-term“greed” which blinded […]
