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

Don't fear a 'robot apocalypse' - tomorrow's digital jobs will be more satisfying and higher-paid

  Don't fear a 'robot apocalypse' – tomorrow's digital jobs will be more satisfying and higher-paid

Tomorrow’s good jobs will require digital skills like programming. alvarez/Getty Images

Courtesy of Christos A. Makridis, Massachusetts Institute of Technology

If you’re concerned that automation and artificial intelligence are going to disrupt the economy over the next decade, join the club. But while policymakers and academics agree there’ll be significant disruption, they differ about its impa...



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Kimble Charting Solutions

Financial Crisis Deja Vu: Home Construction Index Double Top?

Courtesy of Chris Kimble

Most of us remember the 2007-2009 financial crisis because of the collapse in home prices and its effect on the economy.

One key sector that tipped off that crisis was the home builders.

The home builders are an integral piece to our economy and often signal “all clears” or “short-term warnings” to investors based on their economic health and how the index trades.

In today’s chart, we highlight the Dow Jones Home Construction Index. It has climbed all the way back to its pre-crisis highs… BUT it immediately reversed lower from there.

This raises concerns about a double top.

This pr...



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Zero Hedge

Fiat Cuts 1,500 Jobs At Canada Minivan Plant

Courtesy of ZeroHedge View original post here.

If the consumer has gone cold or just silly millennials not forming families because of their limited financial mobility due to insurmountable debts, minivan demand in North America is plunging, resulting in planned production cuts and job losses at one Fiat Chrysler Automobiles plant in Canada. 

Bloomberg reports Fiat will cut productio...



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Insider Scoop

A Peek Into The Markets: US Stock Futures Plunge Amid Coronavirus Fears

Courtesy of Benzinga

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. South Korea confirmed 256 new coronavirus cases on Thursday, while China reported an additional 327 new cases. Data on U.S. international trade in goods for January, wholesale inventories for January and consumer spending for January will be released at 8:30 a.m. ET. The Chicago PMI for February is scheduled for release at 9:45 a.m. ET, while the University of Michigan's consumer sentime...



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Biotech & Health

Could coronavirus really trigger a recession?

 

Could coronavirus really trigger a recession?

Coronavirus seems to be on a collision course with the US economy and its 12-year bull market. AP Photo/Ng Han Guan

Courtesy of Michael Walden, North Carolina State University

Fears are growing that the new coronavirus will infect the U.S. economy.

A major U.S. stock market index posted its biggest two-day drop on record, erasing all the gains from the previous two months; ...



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The Technical Traders

SPY Breaks Below Fibonacci Bearish Trigger Level

Courtesy of Technical Traders

Our research team wanted to share this chart with our friends and followers.  This dramatic breakdown in price over the past 4+ days has resulted in a very clear bearish trigger which was confirmed by our Adaptive Fibonacci Price Modeling system.  We believe this downside move will target the $251 level on the SPY over the next few weeks and months.

Some recent headline articles worth reading:

On January 23, 2020, we ...



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Promotions

Free, Live Webinar on Stocks, Options and Trading Strategies

TODAY's LIVE webinar on stocks, options and trading strategy is open to all!

Feb. 26, 1pm EST

Click HERE to join the PSW weekly webinar at 1 pm EST.

Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

This week, we also have a special presentation from Mike Anton of TradeExchange.com. It's a new service that we're excited to be a part of! 

Mike will show off the TradeExchange's new platform which you can try for free.  

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Chart School

Oil cycle leads the stock cycle

Courtesy of Read the Ticker

Sure correlation is not causation, but this chart should be known by you.

We all know the world economy was waiting for a pin to prick the 'everything bubble', but no one had any idea of what the pin would look like.

Hence this is why the story of the black swan is so relevant.






There is massive debt behind the record high stock markets, there so much debt the political will required to allow central banks to print trillions to cover losses will likely effect elections. The point is printing money to cover billions is unlikely to upset anyone, however printing trillions will. In 2007 it was billions, in 202X it ...

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Members' Corner

Threats to democracy: oligarchy, feudalism, dictatorship

 

Threats to democracy: oligarchy, feudalism, dictatorship

Courtesy of David Brin, Contrary Brin Blog 

Fascinating and important to consider, since it is probably one of the reasons why the world aristocracy is pulling its all-out putsch right now… “Trillions will be inherited over the coming decades, further widening the wealth gap,” reports the Los Angeles Times. The beneficiaries aren’t all that young themselves. From 1989 to 2016, U.S. households inherited more than $8.5 trillion. Over that time, the average age of recipients rose by a decade to 51. More ...



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Digital Currencies

Altcoin season 2.0: why bitcoin has been outgunned by crypto rivals since new year

 

Altcoin season 2.0: why bitcoin has been outgunned by crypto rivals since new year

‘We have you surrounded!’ Wit Olszewski

Courtesy of Gavin Brown, Manchester Metropolitan University and Richard Whittle, Manchester Metropolitan University

When bitcoin was trading at the dizzying heights of almost US$2...



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ValueWalk

What US companies are saying about coronavirus impact

By Aman Jain. Originally published at ValueWalk.

With the coronavirus outbreak coinciding with the U.S. earnings seasons, it is only normal to expect companies to talk about this deadly virus in their earnings conference calls. In fact, many major U.S. companies not only talked about coronavirus, but also warned about its potential impact on their financial numbers.

Q4 2019 hedge fund letters, conferences and more

Coronavirus impact: many US companies unclear

According to ...



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Lee's Free Thinking

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

 

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

Courtesy of  

The repo market problem isn’t the problem. It’s a sideshow, a diversion, and a joke. It’s a symptom of the problem.

Today, I got a note from Liquidity Trader subscriber David, a professional investor, and it got me to thinking. Here’s what David wrote:

Lee,

The ‘experts’ I hear from keep saying that once 300B more in reserves have ...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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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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