Posts Tagged ‘S&P chart’

SP 500 September Futures Daily Chart

SP 500 September Futures Daily Chart

Courtesy of JESSE’S CAFÉ AMÉRICAIN

The SP futures completed a 61.8% retracement from the bottom today. Now we will see if this was a bottom and a short term trend change that can go all the way to the top of the big long term trend channel. 

 

 


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SP 500 Daily Chart: The Silence of the Turkeys

SP 500 Daily Chart: The Silence of the Turkeys

Courtesy of Jesse’s Café Américain

While Americans were celebrating their Thanksgiving Day holiday, the rest of the world gobbled 40 points from the December SP 500 futures.

Bears are doing high fives and the serial top callers are rolling.

Let’s see if the correction will continue after the pilfering pilgrims are back on their prop desks.

Then again, maybe the Reverend Lloyd is just bringing in the sheaves. Why waste a crisis?

Up the trend, then down again. Trend is the trend, until it is not.

This *could* be the November selloff that was expected. Le Prop is on the short side to an acceptable degree. It could be a short ride, and so not taking it heavily short until we break this trend.

Until that point we either buy weakness and sell strength within the trends, or sit on our hands and do nothing.

Why is gold selling off, isn’t it supposed to rise in times of crisis? Well, it did, and quite impressively, in the past week or so, in anticipation of this major failure in the world of paper finance. And now there is selling on the news.

Those who look for a one to one linear correlation between action and reaction will be sadly disappointed and confused, because that is not how the game is played by the banks. They trade in information, in dark pools and private whispers, and the dollars are the means of keeping score.

This is why timing buys and sells is so difficult, especially in hotly speculative markets like the US equity market, just for an example, because the game you are allowed to see on the table is not necessarily the one that is really being played. So better to play the long trends, where the short term does not matter.

But all is not lost. We still have a feeling that the word has gone out from Timmy to Lloyd that the puppies will not buy their puppy chow if the markets are gloomy, and this is why we are in a flat to rising trend in stocks.

Keep in mind that there is always an up and down movement within the trends, especially those whose action is artificial. We are nearing the downstroke on the charts on the overnight trade, which catches most small…
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SP 500 Daily Chart: Pete and Repeat Were on a Boat…

SP 500 Daily Chart: Pete and Repeat Were on a Boat…

Courtesy of Jesse’s Café Américain

Just another day doing God’s work on earth…


 

"Hello Lloyd? Yeah, Larry and I were talking, and we would like to see the market go up, not too fast, but on a nice gentle slope, within a range.
Whatever gains you make doing this are yours to keep. Ben will supply the liquidity. We need to make it look like the Administration’s policies are working.
And most Americans will think they are if the stock market is up."

*****

Weil was born in Paris to Alsatian agnostic Jewish parents who fled the annexation of Alsace-Lorraine to Germany. She grew up in comfortable circumstances, as her father was a doctor. Her only sibling was André Weil, who would go on to become one of the greatest mathematicians of the 20th century. She suffered throughout her life from severe headaches, sinusitis, and poor physical coordination, and spared no scrutiny to these in her philosophical writings. Her brilliance, ascetic lifestyle, introversion, and eccentricity limited her ability to mix with others, but not to teach and participate in political movements of her time. She wrote extensively with both insight and breadth about political movements of which she was a part and later about spiritual mysticism. Weil biographer Gabriella Fiori writes that Weil was "a moral genius in the orbit of ethics, a genius of immense revolutionary range.  Wikipedia.

 


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SP Futures Daily Chart

SP Futures Daily Chart

 

Courtesy of Jesse’s Café Américain

An obvious reflationary effort that, without serious financial reform and economic rebalancing, will degenerate into another phase of the financial crisis and the ongoing banking fraud in a corrupt partnership with government.


 

"There is a mysterious cycle in human events. To some generations much is given. Of other generations much is expected.  This generation of Americans has a rendezvous with destiny." Franklin D. Roosevelt

 


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Has the S&P Index Topped Out for the Year?

Has the S&P Index Topped Out for the Year?

Courtesy of Market Club’s Adam Hewison

There is compelling evidence that we may have seen a top in the S&P index. In my new short video, I show you the evidence that I have found which may point a correction in this index.  While the S&P index needs to put in more work to create a major top, there are early signs that this may be happening. I think when you watch this video you will come to the same conclusion as I did in regards to this market.

China, Hong Kong, 'Avenue of Stars' clapperboard

Click here to watch the video. >>
 

p.s.  I also got word from Adam at Market Club wondering whether gold might be topping out.

He wrote "Big moves and the technicals are really lining up for something huge. But don’t take my word for it, watch
this new video called ‘Is this the TOP in Gold?’"

 


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Everything’s Coming Up Roses

Everything’s Coming Up Roses

Courtesy of Tim Knight of Slope of Hope

As regular readers know, I’m counting on a countertrend top between 1050 and 1200 on the S&P, and we’re within spitting distance of it. Today’s high was barely 1% underneath 1050. I maintain my belief that this is nothing more than a countertrend rally unless (God forbid) we were to cross above 1200.

The folks over at Elliott Wave provided a very interesting graph on sentiment today:

0824-optimism

Not to put too fine a point on it (.…..say I’m the only bee in your bonnet…….), investors are now even more doe-eyed optimistic about the prospects for equities than they were when the S&P peaked at 1576! All this crap about tons of cash on the sidelines and people waiting to pile into the market is just that: a load of crap. They’re already in! And they’re expecting things to keep soaring! (Just like, ummm, in October 2007).

The "cash on the sidelines" thing drives me nuts. The "cash" was destroyed in the 58% decline – remember? The notion that people:

  1. Sold at the top
  2. Tucked their "cash" away somewhere really, really safe
  3. Now have all that cash at-the-ready to buy stocks

is…….that’s right!…………utter crap.

It’s lovely that today was a good day for me, but I’ve been through the past five months and know it doesn’t mean squat. You know the last time we had a good, solid down week? June! So it pays to take it one day at a time and assume Goldman is just playing games with us all until things start to seriously, seriously crack.

And, I assure you, ladies and gentleman, that is a day to which I eagerly look forward.

****

Song for Tim :-)

 


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S&P 500 Morning Analysis 8/6/09

S&P 500 Morning Analysis 8/6/09  

Courtesy of Brian Shannon at AlphaTrends

SPY chart

 

 


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Dave’s Daily

MARKET COMMENT

Courtesy of Dave Fry at ETF Digest, August 4, 2009

There are crazy headlines everyday and you don’t need me to cherry pick them all but I liked the following:

“Consumer spending rises in June as incomes fall”. Reuters
“SEC to ban ‘Flash Trades’ that gives brokers edge, Schumer says”. Bloomberg
“Fed plans to strengthen bank examinations with expert teams, Tarullo say”. Bloomberg
“Duncan wields Obama’s $100 billion to make US schools more like Chicago” Bloomberg
“Financials surge, save rally.” MarketWatch
“Demand surges for clunker killer.” MarketWatch
“6 keys to investing for doomsday.” MSN Money
“Jon and Kate Gosselin have onscreen spat.” Yahoo News

I was educated in Chicago’s public schools and let me take this opportunity to express my sympathies to parents who may have school age children.

Okay, enough fun, let’s turn to markets where, with the exception of pending home sales, the news wasn’t pretty. But bulls have momentum and are focusing on news they like while ignoring or spinning that which they don’t.

Volume remains light no matter how you spin it and breadth was positive overall. 

 

Continue reading Dave Fry’s Market Comment here >>

 


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Phil's Favorites

Chart o' the Day: The Biggest Corporate Cash Hoarders

 

Chart o’ the Day: The Biggest Corporate Cash Hoarders

Courtesy of 

via Fortune Magazine, which notes that non-financial S&P 500 companies hold $1.2 trillion in cash overseas. The majority of whatever comes back will be used to buyback stock and pay down debt. We’ll see if something else happens besides that.

...

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Zero Hedge

It's Not Just The Homicides: Commercial Robberies In Baltimore Are Up 88%

Courtesy of ZeroHedge. View original post here.

We now have supporting evidence that Baltimore is the “nation’s most dangerous city,” according to a new report issued by USA Today’s crime desk. The implosion of Baltimore’s inner city comes as little surprise to us, considering our recent reporting of out of control murders and violent crime plungin...



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ValueWalk

Antifragile By Nassim Taleb Animated Book Review

By VW Staff. Originally published at ValueWalk.

Antifragile: Things That Gain from Disorder By Nassim Taleb Animated Book Review

]]> Get The Full Warren Buffett Series in PDF

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Antifragile is a standalone book in Nassim Nicholas Taleb’s landmark Incerto series, an investigatio...



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Insider Scoop

Imperial Capital: MINDBODY Has The Keys To Success

Courtesy of Benzinga.

Related 7 Stocks Moving In Wednesday's After-Hours Session 50 Biggest Movers From Friday ...

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Digital Currencies

US Olympians Are Turning To Bitcoin To Offset Competition-Related Costs

Courtesy of ZeroHedge. View original post here.

As many college athletes know all too well, funding for more niche sports like - for example - luge is often lacking, and securing more often requires hours of fundraising by the team's boosters.

Which is why, ahead of the Winter Games in PyeongChang, some teams started getting creative. For instance, fundraisers for the US luge team have started accepting donations in bitcoin. Indeed, the team has raised several thousand dollars worth of bitcoin.

...



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Chart School

'Bull Trap' in Dow Jones Industrial Average

Courtesy of Declan.

Starting to see evidence that the February bounce in markets is fading. The Dow Jones Industrial Average finished with a 'bull trap' as it ducked below breakout support despite finishing above yesterday's close. Volume dropped as relative performance against tech indices took a marked step lower. Troubling times for the 'flight-to-safety' route.


The Semiconductor Index had looked like it was ready to mount a challenge of the January 'bull trap' but the last couple of days have seen a second attempt at a reversal ...

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Biotech

What is 'right to try,' and could it help?

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

 

What is 'right to try,' and could it help?

In this March 18, 2011 photo, Cassidy Hempel waved at hospital staff as she was being treated for a rare disorder. Her mother Chris, left, fought to gain permission for an experimental drug. AP Photo/Marcio Jose Sanchez

Morten Wendelbo, Texas A&M University and Timothy Callaghan, ...



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Mapping The Market

The tricks propagandists use to beat science

Via Jean-Luc

How propagandist beat science – they did it for the tobacco industry and now it's in favor of the energy companies:

The tricks propagandists use to beat science

The original tobacco strategy involved several lines of attack. One of these was to fund research that supported the industry and then publish only the results that fit the required narrative. “For instance, in 1954 the TIRC distributed a pamphlet entitled ‘A Scientific Perspective on the Cigarette Controversy’ to nearly 200,000 doctors, journalists, and policy-makers, in which they emphasized favorable research and questioned results supporting the contrary view,” say Weatherall and co, who call this approach biased production.

A second approach promoted independent research that happened to support ...



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Members' Corner

An Interview with David Brin

Our guest David Brin is an astrophysicist, technology consultant, and best-selling author who speaks, writes, and advises on a range of topics including national defense, creativity, and space exploration. He is also a well-known and influential futurist (one of four “World's Best Futurists,” according to The Urban Developer), and it is his ideas on the future, specifically the future of civilization, that I hope to learn about here.   

Ilene: David, you base many of your predictions of the future on a theory of historica...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

Join our webinar, free, it's open to all. 

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Kimble Charting Solutions

Brazil; Waterfall in prices starting? Impact U.S.?

Courtesy of Chris Kimble.

Below looks at the Brazil ETF (EWZ) over the last decade. The rally over the past year has it facing a critical level, from a Power of the Pattern perspective.

CLICK ON CHART TO ENLARGE

EWZ is facing dual resistance at (1), while in a 9-year down trend of lower highs and lower lows. The counter trend rally over the past 17-months has it testing key falling resistance. Did the counter trend reflation rally just end at dual resistance???

If EWZ b...



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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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