Here are today’s gold stock screens and data, along with cycle conditions and projections for gold and HUI index, and Chart of the Day...
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Posts Tagged ‘ Amp ’
SPX Tentative Target Today, 1360 or Bust
The SP futures (or ES electronic mini S&P) have been drifting sideways since yesterday afternoon. Where have I heard that before? This is getting old. However, the trend continues to be ever so slightly to the upside, with the 5 day cycle oscillator staying pinned in positive territory for days on end. The 2...
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Bears Grab For Control of Tape
The SP futures (or ES electronic mini S&P) have been in a slow downward drift after making a double top coincident with the open of European trading, versus a pivot high earlier last night. The Spoos dropped below the 2 and 5 day cycle centerlines, both moving sideways at about 1339 and 1337 respectively,...
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Weak Open But Bulls Still In Charge
SPX cash opened weak, falling through the 5 day cycle centerline at 1342, signialing the onset of a down phase in that cycle. The 8 day cycle centerline is at 1338. If that area breaks, the market could trend weaker for the better part of this week. If it holds, then the bulls will...
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SPX Update: Do-or-Die Week for the Big Picture Wave Counts
On Friday, the Dow Jones Industrial Average (INDU) came within 6 points of its 2011 high. If this high is broken, this would be an extremely significant event for the counts, since second waves cannot exceed the beginning of first ...
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Quelle Surprise! Not.
And they’re off! Anyone following the Wall Street Examiner Professional Edition Treasury updates showing the massive surge in Federal withholding taxes in January would not have been surprised by today’s jobs report, but most other traders apparently were, as the SPX vaults a dozen points on opening, following a similar surge in the futures...
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SPX Update: Slight Shift in View After Thursday’s Action
There is very little to add to the overall picture after yesterday's action. The market came within 16 cents of adding confidence to the bear count, but did not. The action yesterday now forces me to give a slight edge t...
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Market Indecisive In Early Going, So Where To Now?
Well this is different. The market opened slightly weak after the S&P futures had a tiny pullback in the pre market. The 2 day cycle oscillators on SPX cash had been on the sell side since mid day yesterday, and are now on the cusp of either continuing down from around the neutral zone,...
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Market Opening Groundhog Day
S&P cash surged on the open following yesterday’s mid afternoon 2 day cycle buy signal. The 5 day cycle indicator has been on the buy side since the middle of the day Monday.The last 2 day cycle projection yesterday of 1316 is now in the rear view mirror. The new projection of 1322 is...
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SPX Update: Market Ripe for at Least a One-Day Rally
Much as I'd like to give the bears something to be really excited about, yesterday's action wasn't terribly encouraging, and has left some questions about the decline from 1333-1300. Yesterday's morning spike exceeded the 1320.06 high, and&n...
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Another Rally From the Valley, Ho Ho Ho
SPX cash left us with a 2 day cycle projection of 1318 at yesterday’s close. Say bye bye to that. The new projection is 1328. A 3 day cycle projection points to 1326, and a new 5 day cycle projection resulting from this morning’s gap open points to 1329. Resistance is suggested at a...
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Bombs Away on the S&P
SPX cash hit the 8 day cycle centerline at 1320 late on Friday and immediately began to pull back. It had also hit a 2 day cycle projection of 1320. The 2 day cycle oscillator however did not get to the sell side by the close. They left that for this morning’s open after...
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Between Various Rocks and Various Hard Places
The U.S. and European economies are firmly between various rocks and various hard places.
Having stipulated that "Forecasting Is Not Humanity's Strength," I will not make any foolish forecasts that will assuredly be proven wrong, but it is undoubt...
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SPX Update: Using Elliott Wave Theory to Choose Entries and Stop Losses
Yesterday the market formed a bearish reversal bar: it gapped higher at the open, but closed solidly in the red. These types of bars sometimes indicate buying exhaustion.
The market is now as overbought as I've seen it, and if this is still a be...
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Market All Revved Up With Places To Go
After hitting yesterday’s late 2 day cycle projection of 1327 the rally marched on this morning with SPX (cash) opening strong and the 2 day cycle projection edging up to 1330, which was hit on the opening surge. That’s also about where the 3 and 5 day cycle projections were pointing as of yesterday...
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Waiting For Ben’s Dog and Pony Show
SPX (cash) opened weak in a repeat of yesterday’s action, again dropping back to a key trendline. 1310 is now the point at which SPX hits a rising trendline from the December peak that was broken to the upside on January 18. Dropping and holding below that would complete a false breakout, which would...
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SPX Update: Bears’ Turn Now?
On Monday, the S&P 500 (SPX) made it into the 1320-1325 target zone I suggested on Friday and reversed; so hopefully the short term wave structures are finally starting to clear up again. There's been n...
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Bulls Poised For More Today
SPX (cash) had a late surge on Friday pushing the 2 day cycle projection to around 1317. 2 day cycle oscillators had been on the buy side since mid day. Resistance was indicated at the 5 day cycle centerline at 1315.50 and the 8 day cycle centerline at 1316.50. With a move above those...
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Market Opens With Spurt To Resistance
SPX (cash) finished the day on Wednesday with the market trending toward a 5 day cycle projection of 1311. Meanwhile the futures tacked on another 7 points from their 4 PM NY close. An 8 day cycle channel line on SPX comes in at 1311, with a 5 day cycle centerline at 1305 as...
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SPX Update: Rally Reaches Important Resistance Zone
Wednesday's market action pushed up into the 1300-1310 resistance zone I've been talking about for a couple weeks, and this is the bears last real line of defense in the short term. We've looked at so many indicators over the ...
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Mixmaster Market
SPX (cash) opened weaker, falling below the 8 day cycle centerline, but is since has recovered above that line. The 2 day cycle projection of 1290 was almost hit in the opening moments. 5 day cycle indicators are on the cusp of sell signals, but the 2 day cycle is opposed, with the indicators...
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SPX Update: How Much Longer Can Europe Support the U.S. Markets?
There is an unusual pattern that's developed over the past couple weeks, where the market gaps higher in the morning, then gets sold for the rest of the day. This is often a reversal pattern, but it has so far not yielded a meaningful&n...
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It’s 2007.2, and Our Next “Lehman Moment’ Is Coming Fast
It seems that my Thursday edition of Wall Street Insights & Indictments was warmly received by the bullish crowd, many of whom reached out to me to thank me for my optimism. I’m sorry to burst your bubbles, but I am not a raging bull (but thank you for asking). In fact, I’m still bearish. There’s a...
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SPX Update: 12-year Study of Investor Sentiment Points to a Top
The latest American Association of Individual Investors (AAII) sentiment survey numbers were released yesterday, and amazingly, were virtually unchanged from the week prior. For the second week in a row, bearish investors remain at 17%,...
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SPX Update: Gaps Usually Get Filled
Yesterday, the market spent the majority of the session in consolidation mode, and formed a wave structure which looks corrective -- indicating that it's reasonably likely there are at least slightly higher prices to come before this wave com...
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Panic On Claims Not Supported
OK, so the market doesn't like the claims number, which missed anal cyst's estimates by a wide margin. Let's look at the facts.
Not seasonally adjusted, in other words, actual, claims rose by 102,000. Continuing claims wk ended 12/31 up by 361,000. Ho...
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What a Little-Known Market Tool Is Telling Us About U.S. Stocks in 2012
If you're a longtime investor, you're no doubt familiar with the Price/Earnings (P/E) ratio - a common measure for valuing the stock market.
But you may not be as familiar with the more-obscure Earnings/Price (E/P) ratio, which some experts refer to as the "earnings yield" on stocks.
If you're...
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SPX and BKX Update: The Moment of Truth
In a perfect world, the completion to the Minor (2) rally would mark a new high which exceeds the October top. My preferred count of an ending diagonal suggests that perhaps the session today or tomorrow will finally complete that top.
Sinc...
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Terminal Meltup or Bust
Russ Winter of Winter (Economic and Market) Watch, ML-Implode.com’s Aaron Krowne, and the Wall Street Examiner’s Lee Adler discuss the bad, the bad, and the ugly, all of which could lead to a terminal meltup in the US stock market if certain key levels are breached on the S&P. These charts are referenced in...
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SPX and VIX Update: Indications this Rally Won’t Last
This market is a mixed bag of messy charts right now. But many of the indicators I'm looking at are now suggesting the market is within 2% of a top -- potentially an extremely major top.
From an Elliott Wave perspective, it rema...
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SPX Update: Indecision 2012
No material change in the counts since yesterday. The S&P 500 (SPX) daily chart shows another indecision candlestick: in this case a dragonfly doji. This candlestick foretells of a reversal roughly half the time -- in other words, i...
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