Posted in Daily Comment, Dow ETF, Stock Market on Apr 1st, 2009
Stock indexes have moved into what appears to be an extended counter-trend rally. The chart above is of the Dow Jones Index. I chose this because it seem to represent nearly every individual stock that I follow, as well as most other broad based indexes, foreign etfs, and even some gold stocks. Almost every stock and [...]
Posted in Commodities, Daily Comment, Dow ETF on Feb 29th, 2008
Stock index gapped lower today and extended the downtrend for much of the session. The chart to the left of the Dow Industrials is very similar to the S&P chart on the post yesterday. The cash Dow went right up to the declining long term trend channels. I should point out that this channel is [...]
I just returned from New York and will resume posting on this blog. I needed a break from the market and missed some good downside action on the S&P and Dow. I’ve been suggesting for some time now that the S&P would be better for downside trades, and the QQQQ or Nasdaq 100 would be [...]
The stock indexes closed little changed today ahead of the employment report. There was very light volume. The Qs opened under the three day pivot, sold off, and rallied back up to close a few pennies under the pivot. There wasn’t much to show on the chart, so instead will show the Dow 30 ETF, [...]