Posted in Daily Comment on Apr 7th, 2008
I don’t have much to add to my comments from Friday. I had mentioned that there were some small upthrust bars in the past three sessions without much follow-through from the big up day last Tuesday. I did note that there was quite a bit of volume in those upthrusts when viewed by the volume [...]
Posted in Baltic Dry Index, Daily Comment, SPY on Apr 4th, 2008
Stock indexes closed about where they opened today after a disappointing employment report. The bulls can argue that the market could have reacted to the negative news sharply on the downside, and the fact that the indexes were able to at least rally for part of the session and close without a big loss was [...]
Posted in Daily Comment, SPY on Apr 3rd, 2008
There isn’t much to show in the stock indexes. After the wide range bar up on April 1st (hope it wasn’t an April fools joke) there have been two narrow range bars following. The employment report on Friday should get things moving one way or the other. The chart above is the cash S&P in [...]
Posted in Daily Comment on Apr 2nd, 2008
What was up on Tuesday mostly came down on Wednesday, and what was down on Tuesday bounced back up on Wednesday. This was not too surprising when you consider the size of the moves in many markets on Tuesday. The moves today didn’t do much to change the technical picture. I had mentioned in the [...]
Posted in Daily Comment, Gold, QQQQ on Apr 1st, 2008
Stock indexes rallied sharply today. The indexes gapped up right from the open and actually extended the range in trend mode throughout the day, and on increasing volume. The chart to the left is of the Nasdaq/QQQQ. I previously posted this developing chart. I noted the change in trend to up, and the subsequent pullback [...]
