QQQ in breakout mode:
Market Breadth Data******************************
Wednesday, July 31, 2013
Tuesday, July 30, 2013
SPX Consolidation
SPX still trading within the congestion zone:
All eyes on the Fed. Narrowing daily range should lead to an explosive move.
All eyes on the Fed. Narrowing daily range should lead to an explosive move.
Monday, July 29, 2013
SPX Targets
Days immediately preceding FOMC meetings, no matter what the outcome or expectations from the meeting, are usually good for a 10-15 point rally from the lows, which means that another test of the highs is likely:
Rallies update
On a % gain basis, SPX sits right in the middle of the previous three rallies of equal or longer duration:
Friday, July 26, 2013
Thursday, July 25, 2013
Wednesday, July 24, 2013
Tuesday, July 23, 2013
QQQ and AAPL Support
Q's testing key support level:
AAPL starts another leg down ahead of earnings:
but jumps above July 18 & 19th highs in after market trading after earnings beat.
AAPL starts another leg down ahead of earnings:
but jumps above July 18 & 19th highs in after market trading after earnings beat.
Monday, July 22, 2013
SPX Decision Time
With daily and weekly market breadth pulling in different directions, it's no wonder the SPX has a hard time deciding which way to go:
The trend, nevertheless, remains up for the broader market (IWM) as well:
The trend, nevertheless, remains up for the broader market (IWM) as well:
Friday, July 19, 2013
SPX Inside Day
A textbook inside day which takes the guesswork out of predicting which way the market will go. Short below yesterday's low, long above yesterday's high:
Unfortunately, the Qs didn't perform nearly as well:
and AAPL's earnings take center stage next week:
Unfortunately, the Qs didn't perform nearly as well:
and AAPL's earnings take center stage next week:
Thursday, July 18, 2013
SPX Double Top
SPX never overcame R3 resistance, finished the day at R2, and printed a perfect double top which should last for a while:
Wednesday, July 17, 2013
Tuesday, July 16, 2013
Sunday, July 14, 2013
Thursday, July 11, 2013
Wednesday, July 10, 2013
Tuesday, July 09, 2013
Monday, July 08, 2013
Friday, July 05, 2013
Thursday, July 04, 2013
Wednesday, July 03, 2013
Tuesday, July 02, 2013
OEX's Uphill Battle
Facing overbought market internals the major indices will have a hard time keeping the upward momentum going:
Monday, July 01, 2013
SPX Cycles
It's fascinating how combining a few well known repeating cycles with imperfect correlation to the current one can lead to an average with almost perfect correlation (chart courtesy of OT Seasonal):
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