Nearly 50% Retracement
Pretty decent gains today and on some good volume so add another tick to the “crazy” side of the market. If you look at the $SPX on an intra-day basis…
Using Fibonacci To Gauge A Bounce
I'd like to take a look at this week's move in the broader market ($SPX) and see what happens tomorrow with options expiration. To do this, I'll take the high…
Same Results, Different Day (Market Dejavu)
It’s official! The broader market has given back 5 years of gains today as the relentless selling pressure continued, even into the close. Take a look at the chart below…
Is there a dead cat in that barrel of oil?
With all that’s been going on in the credit markets lately it seems that oil gets a sound bite here and there and not much more. Oil ($USO) has sold…
Manic Rally!
The $941.50 level I pointed out in the broader market (78.6% retracement) was steam rolled last week. Now, after today’s manic rally, we are back above that level. Keep in…
Holy Schnikies! My parachute didn’t open!
The $941.50 level I pointed out in the broader market (78.6% retracement) was steam rolled today. It is truly amazing how the markets aren’t even paying attention to technical levels.…
Eureka! We have support?
Well, remember that screaming toddler (the equities market)? Instead of giving them the bag of candy (full point cut) they were given a handful (1/2 point). The problem is, that…