Posted in Baltic Dry Index, QQQQ, SPY, Stock Market on Nov 1st, 2007
NEXT UPDATE MONDAY 11/05 - TAKING LONG WEEKEND
The stock market was lower today, as was gold and oil. Volume increased today on the sell-off. The chart on the left shows the broadening formation on the Nasdaq 100/QQQQ in the upper graph. Yesterday on the Fed rate cut prices were able to penetrate the upper resistance [...]
Posted in Baltic Dry Index, Commodities, QQQQ on Oct 30th, 2007
Stock indexes closed mostly lower today, on fairly light volume ahead of the Fed rate cut decision on Wednesday. The Nasdaq was the only strong index, with the QQQQ actually closing up a few pennies. The Qs are testing the upper end of that wedge I had on the chart yesterday. Rather than repeat that [...]
Posted in Baltic Dry Index, Gold, QQQQ, SPY on Oct 29th, 2007
Stock indexes put in a mildly bullish, narrow range, light volume day ahead of the Fed rate decision due out on Halloween afternoon. Gold was up again on anticipation of the never ending decline in the US Dollar. On the chart to the left in the upper graph you can see the same broadening formation [...]
Posted in Baltic Dry Index, Gold, QQQQ, Stock Market on Oct 10th, 2007
The stock indexes were mostly lower today, with the Nasdaq 100 the exception by moving a slightly higher. Volume was light once again. CCI reading are still holding above the bullish plus 100 level, momentum indicators are still point up, but some getting into overbought territory with potential bearish divergences ahead. However, there is no [...]
Posted in Baltic Dry Index, Stock Market on Oct 9th, 2007
The stock indexes continued higher today. All trends are showing strong momentum, as the CCI is staying over the bullish plus 100 line on the Dow, S&P, and Nasdaq 100. The only negative is that volume is very light. Another negative for Dow Theory watchers is the failure of the Transportation average to confirm the [...]