Posted in Daily Comment, QQQQ on Jun 3rd, 2008
Stock indexes were lower today. The S&P did close well off the lows and so far have found support at the recent pivot. The Nasdaq found support at the lower moving average, which is still trending slightly up. Volume increase in both markets on the decline. The above chart shows the failure of the Nasdaq [...]
Posted in Crude Oil, Daily Comment, QQQQ on May 28th, 2008
Crude rebounded today, and the stock indexes tried to sell off for most of the session, but were able to rebound late in the session, after several false starts, and were able to close with a gain. The chart of the Nasdaq/qqqq to the left shows the uptrend as defined by the blue and cyan [...]
Posted in Daily Comment, QQQQ, SPY on May 20th, 2008
Stock indexes fell right from the open today, but closed well off the lows of the day. It seems the stock indexes lately are making turn-around moves mid to late in the day, thus leaving buying or selling tails. It’s nice when the bulls or bears win a decisive victory and the indexes can close [...]
Posted in Daily Comment, QQQQ on May 19th, 2008
This part of the recent stock index rally has not been a smooth ride. Four days ago there was an upthrust and failure to hold recent highs. The following day (three days back) the big up day made it look like that failure was a failure as the market was able to overcome the very [...]
Posted in Crude Oil, Daily Comment, QQQQ on May 14th, 2008
Stock indexes bounced off support a few days ago, with a nice upturn in the oversold momentum indicator. The previous chart of the S&P was a near perfect example. Today I show the Nasdaq/QQQQ, which has been a bit stronger, and wasn’t able to quite touch the slower moving average on the recent pullback. Volume [...]
