Posted in Crude Oil, QQQQ, Daily Comment on May 5th, 2008
Crude oil made a new all time high today. The chart to the left is the USO crude oil etf. You can see how nicely the price bounced off the uptrending moving average, and how each time the short term momentum (double stochastic) turned up from the oversold level price quickly moved higher. I’ve been […]
Posted in Crude Oil, QQQQ, Daily Comment on Mar 4th, 2008
The Dow and S&P closed a bit lower than yesterday, but generally rallied well from the lows of the session. The Nasdaq actually closed with a slight gain. The trend of the Nasdaq, as you can see on the chart of the QQQQ to the left, has had a sharp downtrend, but has failed to […]
Posted in Crude Oil, Currencies on Nov 29th, 2007
Stocks closed a bit higher today. The markets attempted to sell off a bit after the previous two day powerful short-covering rally, but most indexes edged higher to make it three gains in a row. There isn’t much to show on the charts, as they look much the the post from yesterday with just a […]
Stocks rallied sharply today. It may have been a dead cat bounce, but was an awfully large cat. It wasn’t surprising to see a bounce after such a large drop in all the major indexes, and especially the high flying momentum, bubble stocks. I suggested a return to that red line on the SPY, again […]
