Posted in Baltic Dry Index, Gold, QQQQ on Jan 24th, 2008
The Baltic Dry Freight Shipping index was down again today. So far it has made an almost complete retracement of the upmove from mid-June of last year. The double top, momentum divergences, and break of parabolic stops were noted at the time. I must admit I was thinking this was a bubble most of the […]
Posted in SPY, Daily Comment on Jan 23rd, 2008
The stock indexes had an extremely wide range day. The huge Apple sell-off after the close, not on earnings but on outlook, as well as remarks by ECB president saying they won’t be cutting rates (I bet they change their mind shortly) put pressure on the opening of the stock indexes, with the NASDAQ being […]
Stock indexes opened sharply lower, but closed well off the session lows. You can see the large up candle on the right side of this chart. This was the day session S&P etf. The over-night session of the S&P futures shows a somewhat more bullish looking candle, with a long tail forming a hammer, although […]
Posted in QQQQ, Daily Comment on Jan 18th, 2008
Stocks closed lower again. The S&P got hit hard, with a little less of a loss in the Nasdaq. There was over a 300 point swing in the Dow from high to low. It looks like I took the mechanical bull out of the box in the upper left corner a little early. But the […]
Posted in Daily Comment on Jan 17th, 2008
Stock indexes were sharply lower today, with the S&P and Dow losing better than 2%, while the Nasdaq was down a little less. Volume picked up a little on the S&P and declined slightly on the Nasdaq. All trends and momentum remain down. I tried to find something nice to say about the market yesterday, […]
