The SPX was +2.8% for Nov and is +26.6% YTD as it closed +1.1% Fri to 1805.09 on the “funny money” NFP report, which was similar to the ridiculous NFP report etc before the election which the BLS fabricated for Obama. The index finished -.04% last week after 8 straight positive up weeks, and remains [Read More]
The SPX finished +4.9% for October, and is slightly positive for November so far. The ‘herd’ is all on the same side of the boat in that there is a ‘bubble’, but that the Fed will continue to inflate the markets and bail out the banks, so it is $85 billion QE per month or [Read More]
In my previous commentary I said that the scare tactics/lies from both the Democrats and Republicans about the debt ceiling and default etc are just that, but it would be resolved in favor of the market. However, the current resolution is just a stop gap until Feb 2014, and then we get to witness the [Read More]
Bollinger Bands are a technical analysis tool and volatility indicator developed by John Bollinger in the 1980s that measures deviations in price relative to previous trades. There are bands that are positioned above and below a moving average. When volatility increases, the bands widen and when the volatility decreases, the bands become narrower. Read the [Read More]
In the previous commentary I included the SPX monthly chart of this bull market which outlined the extreme O/B condition and negative 5 RSI Divergence from the 1687 to 1730 cycle high. It highlights the 91.30 RSI at the 1687 high, and the negative 123 declining momentum divergence with the SPX. I also said the [Read More]
At this point of time, the market will move in the perceived direction of the budget talks. Any inkling of a deal will likely send prices skyrocketing because the selling has been relatively light – there’s been a lack of buyers and they are waiting for safety before committing. Yesterday’s 100+ point down day was [Read More]
The market is now oversold and with headlines like this on CNBC.com “First a default, then a depression?” Some think so” it’s time to begin scaling into the market. Have a great weekend! Today’s Potential Opportunities on Further Pullbacks: Stocks: CVX,IRM ETFs: EWJ For today’s official Daily Battle Plan set-ups click here.