The DOW down 17 points. The RUSSELL 2000 down the equivalent of 160 DOW points. Really not much more to say. If nothing changes, it is only a matter of time before the more popular indices follow suit. I continue to use the 3 words…”if nothing changes!” Normally, these words would not be used. But…
Excellent hold at vital support on Thursday leading to the fake job’s number on Friday…which led to a strong move. The Russell held the 1080 for the 4th time in a year while the S&P held the 150 day average again. I was asked why is the 150 day average so important now. Simple…it is…
Russell 2000, the weakest area…hit the 1080 area for the 4th time in the past year and held on a decent size reversal day. The S&P held the 150 day moving average for the umpteenth time over the past 13 months and had a decent size reversal day. That’s your near-term low. What does near-term…
Over the weekend, we finished our report with these words: “Simply put, if the large cap areas start breaking the 50 day average, that would be the next shot across the bow as it would tell us the big boys are following suit. We started to get some of that last week but Friday’s action…
DOW only down 28 but the RUSSELL down the equivalent of 250 DOW points. The MIDCAPS down the equivalent of 150 DOW points. Advance/declines were gross. More and more names broke the 10 week/50 day average. THE POPULAR INDICES WILL NOT BE ABLE TO TAKE TOO MUCH MORE OF THESE KINDS OF DAYS! Pixie dust…
SOURCE:http://www.golfchannel.com/news/golf-central-blog/video-junior-makes-albatross-win-pebble-beach/?cid=twitter-gc-v-junior-albatross-pebble-beach-open-092914
We are seeing more and more signs of trouble as we move forward. As you know, we continue to be worried about the many characteristics of market tops that have been showing up for months. Just to refresh: A massive amount of leverage and margin are now in the system. When have we seen this…
We will have the long version over the weekend…but let’s just say Thursday was a yonking…simple as that. You already know what we have been saying for months…the divergences, the lack of new highs and all that crap. Things just worsened. But before everyone gets all out of sorts, not much has changed. Just that…
It is early in the day but ugly does not describe today’s action. Screens are beet red…and one thing really starting to stand out. It is the mauling of the high-yield, junk bond arena. We have yapped forever here at this area as the most mis-priced and distorted market brought to you by Mr. Bubble…
