Posts Tagged ‘indexes’

Time To Short The Indexes?

Updates on the index charts and Google, courtesy of David Grandey. – Ilene

Time To Short The Indexes?

All About Trends

We wanted to take a few minutes tonight to fill you in on a little index action that we are seeing develop.

First let’s take a look at the short-term index charts.







With each of the charts, you can clearly see they all have that same look:

1. All are pushing resistance aside from post-Fed knee jerk reaction.

2. All have that abc down of A (Oct. Lows)

3. All have that ABC up (thru today) of a Potential B

4. All have a PINK Pullback Off Lows line which is the opposite of a bullish Pullback Off Highs pattern.

A POH is a Pullback Off Highs LONG Side set up and a POL is a Pullback Off Lows SHORT Side set up.

Don’t get Elliott Wave? ABC’s? No matter, all you need to know is support-resistance and those Pink Lines. At this moment in time any break of the pink line sets up a short sell in the indexes with a break into new highs being a stop. For us? We will continue to focus upon the issues that have broken uptrends and are backtesting those trendline breaks.

NOTE: Do yourself a favor and get used to what Pullback Off Low patterns are because when this bear market rally truely ends it will be the only game in town. You can find out more about this pattern here.

One additional note about the above charts. As you can see from today’s peak you have the makings of a nano pullback off highs pattern. This means they could gap up up tommorrow to test the highs of today or a retest of the post-Fed emotional highs. If it happens then don’t be suprised. It would also be a double top at that point too which is the first sign of a change in trend from up to down.

In Summary: Those pink lines are all you need to know. A solid break sets up a potential C wave down to the Oct lows if not farther. BUT we’ll take it one step at a time.

While on the subject of double…
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Dave’s Daily

MARKET COMMENT

Dave Fry’s ETF Digest, May 11, 2009

This image again?!? Yeah, well it’s another one of those Mondays. We’ve had a bunch of them over the past two months. Thereafter the pattern has been for dip buyers to appear making everything well again. One of these days (this day?) the down mood will stick. Until then we’ll just have to see how things work out.

If you’re bullish the light volume today might encourage you. It sure was a tale of two markets with the NYSE being decidedly weak while the NASDAQ was stable.

I could do more today but given the light volume I’ll defer for now.

Portfolio equity levels have been moving in big chunks in both directions. This makes folks nervous and may indicate a top of some duration developing.

The Fryguy has landed in Baltimore. We’re fortunate to have rented a great place in the woods of Mt. Washington. It’s really quite a sanctuary and is perfect for the challenges ahead. Our son is driving across country from California and is currently pushing through Tennessee while our daughter is down the road in DC. Francie is awaiting a date for surgery as coordinating medical staff schedules is a challenge.

So many people have written and sent their good wishes to our family and Francie in particular. Many wish to follow along with this but this isn’t the purpose of these postings. She has created one for herself and it’s good. If you wish to follow: http://fflanikai.wordpress.com/.

Now let’s see if there’s a Turnaround Tuesday in Mr. Market’s quiver.

Disclaimer: Among other issues the ETF Digest maintains positions in: SPY, VTI, MDY, IWM, QQQQ, XLI, XLB, XLY, IYR, IEF, TLT, UDN, DBC, USL, UNG, XLE, DBA, MOO, XME, EFA, EEM, ILF, EWJ, EWZ, IFN and FXI.

The charts and comments are only the author’s view of market activity and aren’t recommendations to buy or sell any security. Market sectors and related ETFs are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period. Chart annotations aren’t predictive of any future market action rather they only demonstrate the author’s opinion as to a range of possibilities going forward. More detailed information, including actionable alerts, are available to subscribers at www.etfdigest.com.
 


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Zero Hedge

Fiat's Failings, Gold, & Blockchains

Courtesy of ZeroHedge View original post here.

Authored by Alasdair Macloed via GoldMoney.com,

The world stands on the edge of a cyclical downturn, exacerbated by trade tariffs initiated by America. We know what will happen: the major central banks will attempt to inflate their way out of the consequences. And those of us with an elementary grasp of economics should know why the policy will fail.

In addition to the monetary and debt inflation since the Lehman crisis, it is highly likely the ...



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Phil's Favorites

Visualizing The New Cryptocurrency Economy

Courtesy of ZeroeHedge

Over a decade ago, the birth of Bitcoin sparked a revolution in the digital world - and just last year, the number of active cryptocurrencies jumped from roughly 1,600 to over 3,000 worldwide.

As Visual Capitalist's Ashley Viens details below, cryptocurrencies have now evolved past simple digital currencies, offering solutions to meet the complex needs of modern financial markets.

Today’s graphic from Abra visualizes the complex, ever-evolving cryptocurrency ecosys...



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Digital Currencies

Visualizing The New Cryptocurrency Economy

Courtesy of ZeroeHedge

Over a decade ago, the birth of Bitcoin sparked a revolution in the digital world - and just last year, the number of active cryptocurrencies jumped from roughly 1,600 to over 3,000 worldwide.

As Visual Capitalist's Ashley Viens details below, cryptocurrencies have now evolved past simple digital currencies, offering solutions to meet the complex needs of modern financial markets.

Today’s graphic from Abra visualizes the complex, ever-evolving cryptocurrency ecosys...



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Kimble Charting Solutions

Gold Miners Indicator Attempting Multi-Year Breakout, Says Joe Friday

Courtesy of Chris Kimble

Are Gold Mining stocks about to be sent a bullish signal they haven’t received in years? Possible says Joe Friday.

This chart looks at the Senior Miner/Junior miner (GDXJ/GDX) ratio over the past few years. Historically when the ratio is heading up, miners tend to do very well.

The ratio has created a series of lower highs just below the falling line (1), since the summer of 2016. The ratio is currently testing the strong falling resistance line and the June 2019 highs at (2).

Joe Friday Just The Facts Ma’am; If the ratio succeeds in a double breakout at (2), it sends miners a long-awaited bullish message.

...

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Insider Scoop

Scott Galloway Calls For Twitter's Board To Replace 'Part-Time CEO' Jack Dorsey Amid Africa Move Plans

Courtesy of Benzinga

A shareholder in Twitter Inc. (NASDAQ: TWTR) and New York University business professor wrote an open letter Friday to the company's board calling for the replacement of CEO Jack Dorsey.

What To Know

Scott Galloway, who owns more than 330,000 shares of Twitter stock a...



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Lee's Free Thinking

Chart Shows the Fed Ramping Up Not QE - Funding Almost All Treasury Issuance

 

Chart Shows the Fed Ramping Up Not QE – Funding Almost All Treasury Issuance

Courtesy of Lee Adler, Wall Street Examiner 

The Fed is ramping up “Not QE” .

The Fed bought $2.2 billion in notes today in its POMO, “not QE,” operations. Actually $2.15 billion because they sold back a whole $50 million. Must have been a little glitch in the force.

This brings the Fed’s total outright purchases of Treasuries to $170 billion since it started Not QE, on September 17.

It also did $107 billion in gross new repo loans to Primary Dealers to buy Tre...



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Chart School

Silver stock taking the sector higher

Courtesy of Read the Ticker

As the US economy begins to show late cycle characteristics like: GDP slowing, higher inflation, higher wage costs, CEO confidence slump. 

Previous Post: Gold Stocks Review

The big players in the market are looking for the next swing off good value lows. This means more money is finding it way into the gold and silver sector, and it is said gold and silver stocks actually lead the metal prices.

The cycle below shows prices are ready to move in the months ahead (older chart re posted).


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Members' Corner

Sacha Baron Cohen Uses ADL Speech to Tear Apart Mark Zuckerberg and Facebook

 

Sacha Baron Cohen Uses ADL Speech to Tear Apart Mark Zuckerberg and Facebook

By Matt Wilstein

Excerpt:

Sacha Baron Cohen accepted the International Leadership Award at the Anti-Defamation League’s Never is Now summit on anti-Semitism and hate Thursday. And the comedian and actor used his keynote speech to single out the one Jewish-American who he believes is doing the most to facilitate “hate and violence” in America: Facebook founder and CEO Mark Zuckerberg.

He began with a joke at the Trump administration’s expense. “Thank you, ADL, for this recognition and your work in fighting racism, hate and bigotry,” Baron Cohen said, according to his prepared...



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The Technical Traders

VIX Warns Of Imminent Market Correction

Courtesy of Technical Traders

The VIX is warning that a market peak may be setting up in the global markets and that investors should be cautious of the extremely low price in the VIX. These extremely low prices in the VIX are typically followed by some type of increased volatility in the markets.

The US Federal Reserve continues to push an easy money policy and has recently begun acquiring more dept allowing a deeper move towards a Quantitative Easing stance. This move, along with investor confidence in the US markets, has prompted early warning signs that the market has reached near extreme levels/peaks. 

Vix Value Drops Before Monthly Expiration

When the VIX falls to levels below 12~13, this typically v...



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Biotech

Why telling people with diabetes to use Walmart insulin can be dangerous advice

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

 

Why telling people with diabetes to use Walmart insulin can be dangerous advice

A vial of insulin. Prices for the drug, crucial for those with diabetes, have soared in recent years. Oleksandr Nagaiets/Shutterstock.com

Courtesy of Jeffrey Bennett, Vanderbilt University

About 7.4 million people ...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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Promotions

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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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