Posted in Baltic Dry Index, Currencies on Aug 16th, 2008
It was generally a slightly higher day on Friday in the stock indexes, on light volume on the option expiration day. I had suggested that the indexes might come back into the area of the moving averages, and the S&P etf did just that, with the bar on Thursday just touching the blue moving average [...]
Posted in Baltic Dry Index, Daily Comment, SPY on Jul 1st, 2008
Stocks made a nice recovery today. I had thought the market was looking a bit overdone on the downside. Sentiment was getting very negative. The stock indexes opened very negative, but then rallied after news was released, only to fall apart once again. Later in the day indexes turned back up and finished mostly on [...]
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 Baltic Dry Index, Daily Comment, QQQQ on Feb 21st, 2008
Stock indexes flipped back over to the downside today. Most indexes are flipping back and forth daily, and winding into a tighter pattern coiling up like a spring. Yesterday I had the S&P etf showing a sideways line and triangle with prices heading into the apex. Today I show the same thing with the Nasdaq [...]
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 [...]