Posted in Crude Oil, Daily Comment, QQQQ, SPY on Jun 30th, 2008
I normally don’t like to use inter-market analysis as I prefer to chart each market individually. But on a short-term basis there will often be a story or two that will drive the overall direction of the indexes. Those two right now are obviously the expanding crude oil bubble and the nearly complete trashing of [...]
Posted in Daily Comment, QQQQ, SPY on Jun 26th, 2008
Stock indexes continued the downtrend today. Yesterday the indexes got a bit of a boost after the fed announcement, but by the close the indexes started to fail. Today the selling came back in and the commodity surge resumed in oil, gold, and grains. The Nasdaq has held up better than the S&P. On the [...]
Posted in Daily Comment, SPY on Jun 24th, 2008
I’ve been away from the market for nearly two weeks. Before I left I was worried about the deteriorating technical condition and the very weak advance/decline line. There was certainly some good downside to trade. I was close to changing the baby bull and putting the bear back in the box in the upper left. [...]
Posted in Uncategorized on Jun 11th, 2008
NEXT UPDATE JUNE 23RD - or maybe the 24th
Taking some time off to rest in Napa and Sonoma. Will not be posting the daily update until June 23rd. I’ll try to answer emails, but I will not spend much time at a computer.
I just returned but have not looked at the markets yet, so will [...]
Posted in Daily Comment on Jun 10th, 2008
The dollar put in a very impressive performance today. There had been several tests of the lows since March, with three obvious pushes down, with the last push holding a higher low, and today making a slightly higher high over the peak between the lows. As would be expected, gold and some other commodity related [...]