Friday, January 31, 2014

NDX100 Tactical LONG Trade: was always the intra- day stance after last week's carnage.

NDX100 Hourly Chart @ Close 01/30/2014
As per last week's THE WEEKLY: the Tactical posture going into this week was looking for an intra- day BUY signal on the NDX100.
That opportunity afforded itself in the last hour Wednesday with a Clear Indecisive Hourly Pattern coincident with a Daily Chart exhibiting similar characteristics.
The result: a rewarding 1.86% gain Thursday basis Close/ Close.

Sunday, January 26, 2014

S&P500 correction unfolds; can't say we were not warned?

S&P500 Daily Chart @ Close 01/24/2014
A whole raft of indicators including the McClellan Oscillator (NASDAQ) & ongoing Negative Divergences have been the 'sirens' over the last 6 weeks or so.
The notable expansion in Volume with a lack of gains in 2014 YTD should have been heeded by us all.
The KISS approach here would be to expect the overdue 10% correction to test/ break the trailing 200day SMA circa 1700; no?

Tuesday, January 14, 2014

Small Caps lagged the Year- End festivities.......

S&P600: Small Caps Daily Chart @ Close 01/13/2014
As the Year- End "we own them as well' crowd 'window dressed' their portfolios; the Small Caps were always lagging.
That should have been warning enough that the January 'hangover' was likely especially given the 1st day's trade of 2014 being a Negative one!
The 50day SMA has provided immediate Support thus far; beyond that & matters become interesting as IT (50day) has been the trigger point for the Rally to reinvent itself since June 2013.

Friday, January 3, 2014

2013 'DELUSION' ends; 2014 opens with a tumble......Crude leads

CRUDE OIL ($WTIC): Daily Chart @ Close 01/02/2014
"Crude’s 2nd Rally the ‘right stuff’ as a fast 5%+ gain (depends on one’s entry point) comes & goes in a matter of hours. What now? 3mth $88 Puts as the easy $ have been ‘booked’ & the ‘bottom- drawer’ 2014 lottery ticket purchased."         THE WEEKLY 12/06/2013

Medium Term View remains the same: a 'spill' in CRUDE all the way into the mid $70's Q1 2014.