Monday, May 27, 2013

NYSE posts an OUTSIDE DOWN Week, not so the S&P500.

NYSE Weekly Close @ 05/24/2013
Just like the NASDAQ100 (NDX); the NYSE has posted an Outside Down Weekly chart pattern.
The benchmark S&P500 has NOT; should we care?
Additionally; the Philly Bank Index ($BKX) has only witnessed an 'Indecisive' Weekly pattern; not enough to 'hang on one's hat on'....yet.

Thursday, May 23, 2013

Clear OUTSIDE DOWN (Wide Range) DAY for the S&P500......will it matter?

S&P500 Daily Close @ 05/22/2013
Nearly ALL sub- indices have witnessed the same Outside Down Day as the benchmark S&P500.
Only the Transports 'failed' in scoring a new high & reversing sharply.
Furthermore; GOLD took a peek above $1400...nearly fainted & is now vulnerable to another test of the $1300/20 'ledge'.

Tuesday, May 21, 2013

GOLD test of $1323 a 'success'.......so far.

Gold Daily Chart @ Close 05/20/2013
Outside Up Day with a successful test of the mid- April Low @ $1323 says Short- Term that a 'test' of the declining 50day SMA @ $1500 is now likely.
GOLD's problem has been that each & every time on this decline; the 50day has proved to be 'superb' Risk/ Reward location for the Shorts &/or Tactical Longs as an Exit Point.
Same again this time?

Monday, May 20, 2013

US 10yr Note: No Bear Market yet......Bull Flag perhaps?

US 10yr NOTE: Weekly Chart @ Close 05/17/2013
Yield Basis: Until the approximate 2.20% level is breached, absolutely NO sign of a reversal in fortune for US 10 year yields (lower) over the medium term.
That said; the 'true' marker for a longer term Bear Market in US 10 year interest rates remains @ the 62% retrace of the last leg down in yields: @ > 2.85%.
Only then can one have a high degree of confidence that the search for yield has run its course & a reversion to 'normalcy' is underway?

Thursday, May 16, 2013

ASX200 Outside Down Day a portend post Budget?

ASX200 Daily Close @ 05/15/2013
A disconnect from the S&P500 would be the rational response as that which benefits the US (cheap energy) does not help the commodity exporters who seem to found themselves in a 'funk' as China fails to 'fill their sails' a la 2010/11?

Wednesday, May 8, 2013

Sightings: An NDX100 'high' or just another 'siren'?

NDX100 Daily Close 05/07/2013
Another 'siren' call or the makings of something both 'real' & certainly well overdue?
At the very least the GAP below @ 2916 needs a 'fill' sooner or later.
Below that & the 2660 fill still beckons 'medium term'.