NDX: Small gains, smaller divergences...still

NDX Daily Chart: Close 02/27/12

Buyers arrived on the 'dip', enough to scare the shorts?

NDX100 - 'Showtime'???

NDX100 Daily Chart 02/22/12 + McClellan Oscillator

It's 'put up' or 'shut up' time for the Oscillator, as last Friday's 'major move' signal expires by week's end.

NDX100 - Patience

NDX100 Daily Chart: 02/17/2012

The McClellan Oscillator (lowest indicator) is @ the Zero Line, failure here (lower NDX100) and a correction is 'underway'.
Negatively divergent RSI and falling MACD (blue columns) adds to the 'excitement' (if you're a bear)!
The catalyst?

Copper (Industrial Metals): "Full steam ahead" ???

COPPER Daily Chart: 02/17/2012

The 'good' Dr Copper is suggesting something other than what equities are telling us?
Chinese demand concerns are 'blamed', perhaps we should 'care' as well.

NDX100 still below the highs.......Apple as well

NDX100 Hourly Chart: Close 02/16/12

Apple (AAPL) remains well shy of its highs scored on yesterday's Key Reversal.
The NDX100 is close, with the S&P500 indeed rallying to new highs.
'Non-Confirmation' of the NDX/S&P; whilst it holds, and the thesis of 'highs' being potentially in place remains valid.

Let's call it the iTOP as Apple 'reverses'.

APPLE (AAPL) Daily Chart: 02/15/12

The world's largest capitalized value stock has been distorting the internal market indicators for the last 4 weeks (look @ the ascent left).
After yesterday's large negative McClellan readings....amid a small positive day for the NDX100, today's reversal should 'print' some interesting internal #'s.
Is this NOW the correction?......look @ the GAP (Red Box), left.

Has the 'correction' arrived?

NYSE Daily Chart + McClellan Oscillator: Close 02/10/12

Finally the McClellan exerts its influence and some weakness is witnessed. 
Interestingly enough, the NDX100 does NOT exhibit the same 'weakness'....the 'Apple' effect still in play?
(more in THE WEEKLY)

NYSE: McClellan 'divergence'......

NYSE: McClellan Oscillator 02/08/12

It will matter, as another 'weak' internal day belies the marginal gains.
The NDX100 is mirroring this as well, even with a better gain @ 0.54% on the day.

Shanghai 'nights', where to from here?

SHANGHAI ($SSEC): Close @ 02/06/12

Ain't saying, just highlighting, when the Correlation is highest with the S&P500, next thing we witness is a sell-off.

Steve Keen: Many more will 'cry' than the current gaggle who 'laugh' @ this seer.

Watch house prices fall in 2012 | Steve Keen | Commentary | Business Spectator

Small Caps 'lead the charge'......

S&P600 Small Caps ($SML) Index: Close @ 02/02/12

Note the DMI/ADX trending indicator, unlike the other 'risk-seeking' index (NDX100), this has been in 'trending' mode (ADX>20 & +ve) for a while now.
Once that (ADX) breaks back below the DMI (Green Line), then perhaps this 7 week rally will take a breather.

S&P500......50/200 'buy' signal?

S&P500 Daily Chart: Close 02/01/12

NYSE 'Floor Trader' cited the 50/200 day positive cross as one of the 'rationales' for the UP market.

The previous signal back in August 2011, signaled a 'low' of sorts and only exerted its influence once (thrice) tested.
Should we expect the same....a test @ 1260?
Me thinks.

An ebbing tide: patience with the NDX100?

NDX100 Daily Chart: Close @ 01/31/12

Small range day for all US indices, reflected in the very small McClellan Oscillator readings; now signalling a 'major move' by week's end.
'Over-bought' stochastic studies once again suggest that the move should be lower. 3rd time's a 'charm'???