All the major indices look something like this:
Should be an interesting afternoon!
Wednesday, April 30, 2008
2:15pm
Markets may not take direction today, but they'll definitely move after the Fed announcement.
All the major indices look something like this:
Should be an interesting afternoon!
All the major indices look something like this:
Should be an interesting afternoon!
Wednesday, April 23, 2008
$DXY controls the fate of USO, FXE
Where the Euro (FXE), and Crude (USO) go next depends on which way the U.S. Dollar Index ($DXY) breaks out.
We're almost there...
We're almost there...
Tuesday, April 22, 2008
GOOG poised for a move
Check out this chart of Google (GOOG).
Looks like a classic head and shoulder pattern. If that's correct, that HUGE gap could get filled in a hurry. If we get a break above current levels ($560), my first target would be $616.
Check the ticker for the latest...
Looks like a classic head and shoulder pattern. If that's correct, that HUGE gap could get filled in a hurry. If we get a break above current levels ($560), my first target would be $616.
Check the ticker for the latest...
Monday, April 21, 2008
Another Dixie Breakdown?
The Euro (FXE) and Oil (USO) may have more upside left in them if the dixie heads south through this possible triangle/wedge...
Keep an eye on the US Dollar Index ($DXY) as it is the cause for the runs in the Euro and Oil, as well as virtually all the other commodities that are trading at multi-year and all-time highs.
Check the ticker for the latest...
Keep an eye on the US Dollar Index ($DXY) as it is the cause for the runs in the Euro and Oil, as well as virtually all the other commodities that are trading at multi-year and all-time highs.
Check the ticker for the latest...
Critical week for indices: $INDU, $SPX, $VIX, $XMI, QQQQ, SPY
All indices surged up to important critical points, and we're basically at an interim turning point. The markets will either bump their head here on resistance, which would confirm a longer term downtrend, or break through and kill the last of the shorts.
Breaking up and through these levels, especially if done with gusto, would be very bullish for the stock market in general, and could easily have us at new all-time highs again.
A real pro would wait for confirmation before taking a position. The major market index ($XMI) still has a percent and change of room to the upside before the top trendline is tested... which could potentially allow for a slight blow-up of the indices in general, to squeeze the last of the shorts.
Interesting times to say the least, as the technical stars have aligned. Fow what it's worth, what I think will happen will be either one of the following scenarios:
(1) another financial bombshell drops (this week), causing a spike in volatility... making the current levels act as resistance... thus beginning a new leg/wave downward
(2) a number of companies come out and blow out earnings, like GOOG did last week, taking the indices up and through current levels, setting the stage for a powerful rally as the shorts will have to duck and cover (literally)
I have a hard time believing that the current credit mess can be dismissed so quickly and easily, which makes me bearish, and if I had to take a position, I'd have to think scenario 1 will play out.
But, if the indices clearly break up and through these levels this week, I will not hesitate to go long.
Get your fingers ready to pull the trigger either way. Should be a fun week!
Check the ticker for the latest...
Breaking up and through these levels, especially if done with gusto, would be very bullish for the stock market in general, and could easily have us at new all-time highs again.
A real pro would wait for confirmation before taking a position. The major market index ($XMI) still has a percent and change of room to the upside before the top trendline is tested... which could potentially allow for a slight blow-up of the indices in general, to squeeze the last of the shorts.
Interesting times to say the least, as the technical stars have aligned. Fow what it's worth, what I think will happen will be either one of the following scenarios:
(1) another financial bombshell drops (this week), causing a spike in volatility... making the current levels act as resistance... thus beginning a new leg/wave downward
(2) a number of companies come out and blow out earnings, like GOOG did last week, taking the indices up and through current levels, setting the stage for a powerful rally as the shorts will have to duck and cover (literally)
I have a hard time believing that the current credit mess can be dismissed so quickly and easily, which makes me bearish, and if I had to take a position, I'd have to think scenario 1 will play out.
But, if the indices clearly break up and through these levels this week, I will not hesitate to go long.
Get your fingers ready to pull the trigger either way. Should be a fun week!
Check the ticker for the latest...
Saturday, April 5, 2008
Friday, April 4, 2008
Yet another chance to short the USO?
The (USO) is inching up again... if it gets up to the $87-$88 level... I'll be buying puts on it... again.
Check the ticker for the latest...
Check the ticker for the latest...
Wednesday, April 2, 2008
Triple top? Or breakthrough?
If you look at the VIX, it hasn't stayed below the 200 mva for more than 3-5 days since Feb of 2007. The VIX touched this mva yesterday. Friday just so happens to be 3 days after the VIX touched down. Funny how the jobs report is scheduled to come out that day. To say we're at a critical technical point is an understatement.
I believe this week will act as an interim 'top' and it should start another wave of volatility. Hopefully. It'll be more fun that way!
I believe this week will act as an interim 'top' and it should start another wave of volatility. Hopefully. It'll be more fun that way!
Subscribe to:
Comments (Atom)