Tag Archive | "Dow Jones"
18 November 2009 – Second weak close
Yet again the market firmed on open but slid through the balance of the day. This is the second straight session where early gains have been unable to hold. Many of the broader US indices are trying to punch up into new high ground, so it could be that traders are feeling more consolidation is [...]
Continue reading...16 November 2009 – Transports closing the gap
Tuesday, November 17, 2009
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The US Dollar continue to slip and the further it drops the more supportive for stocks. Another positive last night was the continued closing of the divergence gap between the Dow Jones Industrials and Transports. The DJIA added +1.33% to the Transports +2.03%. We really want to see the Transports to make new highs though [...]
Continue reading...16 November 2009 – Gold
Monday, November 16, 2009
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The market gained some minor strength from a US lead but also from a surging Gold price through the day. As at writing Gold is +$13.00 and the Dow Jones in night trading is +75pts. The Daily trend has flipped back to up and it may well continue to chop around if the broader market [...]
Continue reading...13 November 2009 – Indecision
Saturday, November 14, 2009
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The market remains in a state of indecision. A little up drags some longs onboard. A little down sucks in some shorts. Either way there is no definitive trend. From a pure price perspective we’d say the trend is up. But other indicators are showing bearish divergences. One will be proven wrong in due course, [...]
Continue reading...12 November 2009 – Look out below
Friday, November 13, 2009
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Several weak closes now and some divergences taking shape. This market is running out of puff here. I’m now quite concerned that a renewed leg lower is starting and basis the non-confirmation on the Dow Jones Transports and the lower low it may be a decent reversal of form.
Continue reading...10 November 2009 – Trend flips UP
Tuesday, November 10, 2009
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As you can see both the Daily and Weekly trends have flipped to UP and as a result the Systematic Powersetups have come back online. Personally I retain some doubts, specifically with the broader indices in the US making secondary lows, but until they confirm a lower high pattern we could still zip higher. I [...]
Continue reading...2 November 2009 – Attempted bounce
Tuesday, November 3, 2009
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Price tried to recover but was unable to hold its gains. At one stage the Dow Jones had taken back 150-pts but had gave them back. Broader indices closed in the red or slightly positive. The Dow Jones Transports closed over -0.5% lower cementing our ongoing argument that we’re not likely to trade higher in [...]
Continue reading...20 October 2008 – Watching earnings…
Tuesday, October 21, 2008
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The choppy price action is offering up some more bearish setups for us but we now have the earnings season to contend with as well. I highly recommend that positions aren’t held over the respective release so when one is due within a week it makes it a pointless exercise to put a new trade [...]
Continue reading...16 October 2008 – The chop begins…
Friday, October 17, 2008
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I’ve been warning subscribers over the last week about the impending and probable ‘choppy’ price action that can be expected. This will cause some frustration for both the bulls and bears, but helps build our desired setups. It’s going to take a significant amount of work to reverse the broader markets trends and until that [...]
Continue reading...16 October 2008 – No new dawn today…
Thursday, October 16, 2008
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The suckers rally over the last week was just enough to create 2 bearish setups for us, both of which activated on last nights 730-point plunge. HMY is a Gold stock and I did express concerns that a flight to quality may put a bid into it, but it too fell over, dropping almost 10% [...]
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Wednesday, November 18, 2009
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