Lee Adler

When In Doubt, Punt

The market finally pulled back on Wednesday. A review of ETF sector charts shows that many of them pulled back from resistance, which leaves doubt whether the rally was a reaction rally or the start of something bigger on the upside. There is some evidence that suggests what it is.

Gold At A Fulcrum

A lot is riding on gold’s price action today. It was at a convergence of key lines of support and resistance. The mini smash this morning just broke a short term uptrend line. Recovery is still possible by the end of today, but if it does not happen, the effect on the short term trend…

Panic! Locked Out!

Cycle screening measures screamed higher along with the market averages. The market is so thin and the move so strong will it even provide the luxury of allowing anyone in on a pullback or will bulls who have been frozen out, panic, driving the market up even faster?

Homebuilder Sector Leading Rally– Predicting A Housing Boom?

Mr Hanky, who posts on Capitalstool.com, wondered today whether strength in the Homebuilder Index portended a housing boom. I responded that I doubt it. With the average wage stagnant and median household income in the toilet, new housing demand will remain weak. In the stock market, the housing ETFs are not really about housing. They’re overweighted with home…