Posted in Commodities, Gold, Weekly Comment on Nov 25th, 2009
The gold market has been making a powerful move to the upside lately. In fact over the last three weeks it has been up almost every day, with prices now turning nearly vertical with many gaps on the daily and weekly charts. Is this move sustainable? Are the fundamentals or the perception of future fundamentals [...]
Posted in Daily Comment, Gold, SPY, Stock Market, Weekly Comment on Nov 7th, 2009
I’ve received more than a few emails asking if I’ve turned my blog into a monthly report. Well, I’ve been in New York since my last post. I was going to bring the laptop, but decided I needed a complete rest from the markets. We have a mid-town timeshare just south of Columbus Circle. We are [...]
Posted in Daily Comment, SPY, Stock Market, Weekly Comment on Oct 25th, 2009
So far all predictions for the demise of this powerful stock market rally have been wrong. Certainly we’ll hear of all the successful forecasts after the fact, as we always do. It’s a little more difficult to call a top in real time. Every time the market looks like it is going to finally pull [...]
Posted in Daily Comment, QQQQ, SPY, Stock Market, Weekly Comment on Oct 17th, 2009
Many financial markets continue on what seems to be a never-ending path upward as the dollar continues on its path downward. The chart above shows the daily action of the etfs representing the S&P 500 in the upper sub-graph, and the Nasdaq 100 in the lower. Trends in both are clearly up. Every attempt at [...]
Posted in Daily Comment, SPY, Stock Market, Weekly Comment on Oct 10th, 2009
This stock market rally has been quite persistent. It seems every attempt at a pullback is quickly met with buyers rushing in. There seems to be an urgency in their buying. You can even see it on the intra-day tape. There are few downticks that have any persistence. On the weekly S&P ETF chart above [...]