Stock indexes were down sharply early in the session, with the Dow being down nearly 200 points. Then suddenly, when focus apparently shifted to talk of the upcoming rate cut, the indexes erased most or all of the losses to close narrowly mixed. You can see the long tail on the QQQQ/Nasdaq 100 chart to [...]
Market Mood
Archive for October, 2007
I just returned from New York and will resume posting on this blog. I needed a break from the market and missed some good downside action on the S&P and Dow. I’ve been suggesting for some time now that the S&P would be better for downside trades, and the QQQQ or Nasdaq 100 would be [...]
Daily updates to resume October 23rd.
Posted in Uncategorized on Oct 13th, 2007
I will resume the daily updates and trends on October 23rd.
I am in NYC away from my trading computer, so it makes updating this site difficult. When I return I will try to make the daily updates occur closer to the close of the US market. Since I am on the West Coast, I usually [...]
Stocks open higher, close lower
Posted in QQQQ, Stock Market on Oct 11th, 2007
Stocks opened the session with more of the same. It seemed like stocks were going to continue going straight up to the moon. Most indexes were at new all time highs, with the Nasdaq at the highest level since the collapse in 2000. Gold was going higher. The Chinese bubble saw no sign of a [...]
Dow down, Nasdaq up
Posted in Baltic Dry Index, Gold, QQQQ, Stock Market on Oct 10th, 2007
The stock indexes were mostly lower today, with the Nasdaq 100 the exception by moving a slightly higher. Volume was light once again. CCI reading are still holding above the bullish plus 100 level, momentum indicators are still point up, but some getting into overbought territory with potential bearish divergences ahead. However, there is no [...]