Posted in Daily Comment, Politics, SPY, Stock Market, Weekly Comment on Apr 3rd, 2010
There still seems to be no stopping this rally. Every attempt at a pullback is met with more buying. It is amazing to watch the intra-day action to see how every move lower seems to be a struggle, with the up impulses appearing effortless. A healthy trend usually is characterized by a frequent reversion to [...]
Posted in Daily Comment, SPY, Stock Market on Mar 17th, 2010
There seems to be no stopping this rally. Nearly every day the market advances. On many days the market tries to pull back, but by the end of the day the bulls come back with more buying and the market closes higher. It seems that there is a buying panic in place. Of course volume [...]
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 [...]