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 ‘ Resistance ’
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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6 More Weeks of Winter For Bears
Tuesday is groundhog day. Does that mean we can expect more of the same? The cyclical window for a down turn is fast closing. If the 6-7 week cycle turns up, the uptrend could even accelerate. Projections have moved up to 1370 on a 10-12 month cycle basis, and 1390 on the 13 week...
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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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Market in Flat Squeeze, Bad News Is “Company Specific”
Technical indicators are increasingly signaling a correction, but the market is giving little ground. Amazon is giving it an excuse to sell off after the bell, but the S&P futures have barely budged. Bad news is “company specific.”
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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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Market Fruit As Ripe As It Gets
The market is as ripe as it gets for a correction.
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Correction Now or Never (Well, not never, but you get the idea)
The rally has stalled and time counts suggest that a correction is due, but centered moving average projections still point higher. Which should get more weight?
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Little Sign of Meaningful Turn
Not enough happened yesterday to materially change the outlook.
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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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Promoting The Equity Carry Trade
The Fed clearly signaled today that it intends to promote the equity “carry trade,” and the market took the handoff after a long running head start.
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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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Market Completes False Upside Breakout
SPX (cash) opened weak, pulling the 2 day cycle to the sell side with a projection of 1308 in the initial moments which has been reached and slightly broken. As I completed this update, the projection looked to be around 1304.50. A 5 day cycle buy signal late yesterday has whipsawed from a weak...
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Where’s The Pullback?
The 6-7 week cycle projection has been hit and time counts suggest that the market is inching closer to a correction on a few cycles, but…
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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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Long Term Indicators Turn One By One
A pullback is due or overdue in a couple of cycles and there were some hints on Friday that it could be starting. But there was no sign of anything more than a minor pullback or consolidation, and in fact longer term indicators continue to tick to the buy side one by one. Bears...
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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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Bears Get A Glimmer of An Opening
The market may have given bears a glimmer of light on Friday, but so far, that’s all it is, a glimmer. This report looks at what those glimmers are and the likelihood that they will lead to a real decline.
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Market Sells Off At Open, Hits Prior Pivot Support, But Looks Lower
SPX (cash) tanked on the open in NY after hitting its 2 day cycle projection late Thursday. The gap down triggered sell signals on 2 and 5 day cycle oscillators. These indicators had negative divergences versus the SPX double top at about 1296.50 near Thursday’s close and early Tuesday. The new 2 day cycle...
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Same Old Same Old
Having repeated essentially the same analysis and forecast for seemingly the past 10 days, I won’t bore subscribers with more of the same tonight, especially since it’s late and you have enough to digest with the housing report and the free reports on unemployment claims and retail sales. Cycle projections were down slightly in...
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Breakout Attempt At Open Pushed Back
SPX (cash) popped on the open in NY but that lasted only a millisecond. The 5 day cycle oscillator went to the sell side early in yesterday’s session and remains there, but the 3 day cycle oscillator remains on the buy side for now. A sustained drop below 1290 should trigger a sell signal....
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Gold Breaks Key Resistance
Gold is plowing through key resistance this morning. 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 picks for swing trades. Indispensable daily information for gold and precious metals stocks traders.Click here to download complete report in pdf format...
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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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Sloppy Is As Sloppy Does
The market remains in a sloppy uptrend. How long can this mess keep floating upward?
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Stocks Open Weak, But At Support
SPX (cash) traded in a line yesterday after blasting off at the open. The 2 day cycle oscillator was on the sell side from mid day until the close. 5 and 8 day cycle oscillators were in the topping zone but had not rolled over. SPX closed right on the 5 day cycle centerline...
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Market Going Nowhere Until It Breaks These Levels
SPX (cash) closed Friday on a weak note with 2, 5 and 8 day cycle oscillators all turning down, but with 2 and 5 day cycles both due for a cycle low imminently. The opening here is virtually unchanged from Friday’s close, with the indicators mixed and directionless. Support is indicated at about 1277,...
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Market’s Cape Fraying, But May Still Be Able To Leap A Tall Building
Technical indicators show some fraying around the edges. 10-12 month cycle momentum is surging on the buy side, but VIX keeps sending sell signals. Conflicting indications abound. This report gives keys to judging which way the market will break.
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Today’s Keys to Breakout from Rangebound Mush
SPX (cash) just popped as it tries to get back to the 8 day cycle centerline at about 1282. That cycle appears toppy.The 5 day cycle indicator is weak. SPX traded down to the area of the rising 5 day cycle channel centerline, briefly broke below where it hit a 2 day cycle projection...
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Market Analysis Paralysis
The market’s mixed performance was accompanied by minimal strengthening in technical indicators, as well as ongoing signs of possible distribution in the cycle screening measures. Key cycles are now in topping areas time wise, but price projections edged higher. Where does that leave the market… and us?
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Tailwind for the New Year
Yesterday’s blastoff means that the bias remains to the upside, this morning’s little giveback notwithstanding.If the bears can’t stop it here, 2012 would have a tailwind for an up year, not because the economy is so great, but because central bank money printing would flow through paper assets.
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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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