Posted in SPY on Jan 9th, 2008
Stock index started off the day with a slight recover from the large sell-off yesterday, but then once again succumbed to selling pressure. You can see on the tail on the today’s candle that prices were probing into the same tail area back in mid-August, where I drew the red line. Rally attempts were met [...]
Stock indexes started the day looking like they were going to make a swing back to the upside. Sentiment has been getting more and more bearish, oscillators have been getting oversold, and some sort of bounce could be expected. There were some little tails being left on the daily bars as some of the indexes [...]
Posted in Uncategorized on Jan 7th, 2008
Stock indexes closed mostly lower today, with the Dow holding to the plus side by a small amount after a late day rally. The intra-day charts of the S&P and Nasdaq showed an early sell-off followed by a rally that looked like a hammer candle might be formed for the day, and a possible bottom [...]
I didn’t post an update yesterday as there was not much to say, as the indexes seemed to waiting for the jobs data to be released prior to the opening today.
As you can see, the indexes gapped lower on the opening bell, and proceeded down for the rest of the session, creating a wide range [...]
Posted in Baltic Dry Index, Currencies, Gold, QQQQ, SPY on Jan 2nd, 2008
The gold market made big news today with prices finally taking out the all time high set 28 years ago. For those unlucky enough to have bought at the peak in 1980 and held on all these years until breaking even, today was a good day. Of course the destruction of the dollar would mean [...]