Posted in Daily Comment on Feb 14th, 2008
Stock indexes sold off today, mostly while Bernanke was pontificating to the senate banking committee. Apparently the market didn’t like what he was saying. There doesn’t seem to be much new about the effort to trash the dollar and bail out real estate speculators. It seems just more of the same and the market should […]
Posted in QQQQ, Daily Comment on Feb 13th, 2008
Stock indexes rallied today again. This time the Nasdaq/QQQQ had the larger percentage gain. Price is coming up to a resistance level. The trend is still down with momentum still up, as can be seen in the chart. The reversal back down yesterday (Tuesday) was a concern, but momentum increased even with a lower close, […]
Posted in Daily Comment on Feb 12th, 2008
The Nasdaq failed to follow through to the upside today and closed lower. Momentum is still pointing higher but trend is still down. There was some improvement in the advance/decline ratio, at least in the way I look at it. I still think there is possibility of a little more of a bounce to the […]
Posted in Baltic Dry Index, Daily Comment on Feb 11th, 2008
Stock indexes were higher today. It was a small rally, but there was evidence that a rally would come in today, as mentioned in the comment of Friday. You can see the green buy dot on the chart of the QQQQ post last Friday, and today the market rallied right up to the declining moving […]
Stock indexes were mixed on Friday, with the Dow and S&P lower, and Nasdaq higher. Yesterday I mentioned that the Nasdaq opened on Thursday into the rejection area from the Jan 23rd candle, and quickly recovered to create a reversal bar up. This was a rather weak reversal bar as prices were unable to hold […]
