Posted in Daily Comment, Politics, SPY, Stock Market on Feb 22nd, 2010
Stocks still seem to be in a longer-term uptrend, although momentum looks like it might be slowing. The chart above shows the weekly etf of the S&P 500. The red horizontal lines display the fibonacci and 50% retracement levels of the previous down impulse move that started in October of 2007 and ended in March [...]
Posted in Daily Comment, Politics, SPY, Stock Market on Feb 2nd, 2010
It’s been nearly a week since the teleprompter reading of the State of the Union. Stocks had been in a slide going into the reading, and continued through the end of the week, and of course have corrected back up part way so far this week. Certainly most presidents try to put a positive spin [...]
Posted in Daily Comment, Politics, SPY, Stock Market on Jan 24th, 2010
It was quite a holiday shortened week. On Tuesday the market rallied even further into overbought territory, lead by the healthcare sector, as it became increasingly evident that Brown would win the election. There were no exit polls to suggest the probabilities had increased throughout the day, and the tracking polls hadn’t changed. However, the [...]
Posted in Daily Comment, SPY, Stock Market on Jan 12th, 2010
The stock market started off the new year with a continuation of the overall uptrend that has been in place for the last several months. According to the Stock Trader’s Almanac the first five days of January are followed by full year gains with an accuracy of 86% and an average gain of over 13% [...]
Posted in Daily Comment, Gold, SPY, Stock Market on Dec 23rd, 2009
I write this on the eve of Christmas eve, and also the eve of the historic and disastrous bought off senate vote on obamacare. The public does not what this awful bill to pass. Many of the democrats don’t even want it. But comrade Harry Reid is intent on getting something through the senate. On [...]