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Technical Commentary on US Equities

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Month: March 2021

Commentary

3/23/21 Afternoon Signals xCF

March 23, 2021 Josef Friedman

xCF hasn't been good CO recently but the older numbers override that. There is no rotation of strength into other sectors today, IWM, XLE, XLI, and KRE, the recent leaders, are all quite weak today along with XBI and SMH. Still not a bad place to be long here. I'm doing some rethinking of quatz… Continue reading 3/23/21 Afternoon Signals xCF

Tagged IWM, KRE, SPY, XLE, XLILeave a comment
Commentary

3/23/21 Current Signals xHL

March 23, 2021 Josef Friedman

A decent positive CO return was the bright spot with xHL from an immediate gratification standpoint. On the other hand a boring day is better than a losing one. Never short a boring market.

Tagged SPYLeave a comment
Commentary

3/22/21 Afternoon Signals xHL/o3

March 22, 2021 Josef Friedman

I'm working on a user interface. The first four (cCC/cRR/cCO/cOC) columns are real time numbers; multiplying them by 100 was weird, now they are 4 decimal - ,01 is about 1%. The middle CC/RR/CO/OC columns are log returns for the 31 previous trade days. The number 31 is a variable. The columns wCC/wRR/wCO/wOC show the… Continue reading 3/22/21 Afternoon Signals xHL/o3

Tagged IWM, qqq, SPYLeave a comment
Commentary

3/22/21 Current Signals xLH/c2

March 22, 2021 Josef Friedman

A few brokerage research departments have said Growth is OK again, even with the 10 year treasury at 1.7%. xLH was buyable a few months ago, but the middle cycle (xLH/xHL/xMM) isn't typically a good area. Still, at least SPY and QQQ have moved a little off their key support areas CO.

Tagged qqq, SPYLeave a comment
Commentary

3/19/21 Afternoon Signals xLH/o1

March 19, 2021 Josef Friedman

Quadruple witching, making for a quiet but sullen session. Prices ae drifting just above the recent necklines at SPY 389-390 and QQQ 310-311. One wants to see a bounce off these areas, and this isn't much of one. Looks like the discussion will be put off until the first trade day of spring.

Tagged qqq, SPYLeave a comment
Commentary

3/19/21 Current Signals xCC/c0

March 19, 2021 Josef Friedman

SPY made a new high on Wednesday. With no follow through that can turn into a rising wedge. The good news with a rising wedge is that it usually doesn't turn into a long term top. SPY is ex-dividend today QQQ is at it's own significant defensive line near 311. Neither of these resistance areas… Continue reading 3/19/21 Current Signals xCC/c0

Tagged qqq, SPYLeave a comment
Commentary

3/18/21 Afternoon Signals

March 18, 2021 Josef Friedman

The tables go back 31 days. cCC etc. stands for current CC * 100. Note the growth ETFs are negative and value is positive. This divergence is quite unusual in length and strength, at least the part that includes weak couch potatoes and strong smokestacks. RR is now just based on OC, it is the… Continue reading 3/18/21 Afternoon Signals

Tagged qqq, SPYLeave a comment
Commentary

3/18/21 Current Signals xCC/o1>c1

March 18, 2021 Josef Friedman

QQQ is the best major ETF to look at for market direction lately because it is below it's high, Yesterday, QQQ rallied from the 50 Fib line - halfway between the Feb high and March low - to the 38.2% line, but it didn't quite make a two day high. This morning it has dropped… Continue reading 3/18/21 Current Signals xCC/o1>c1

Tagged qqq, SPYLeave a comment
OverView

3/17/21 Afternoon Signals xCC/o1

March 17, 2021March 17, 2021 Josef Friedman

Somehow, we survived the excitement of the Fed announcement. Upper cycle action has been weak lately but SPY is holding above the important 394 level. o1 CO is a good place to play long.

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Commentary

3/17/21 Current Signals xCF

March 17, 2021 Josef Friedman

Yesterday, QQQ was able to almost touch the March high at 324 before pulling back, amid the siren song of possible juicy 2% 10 year treasury yields. Even in this relatively weak environment QQQ made over 2% CC in the last 13 days. If an investor bought everyday at the close and sold at the… Continue reading 3/17/21 Current Signals xCF

Tagged qqq, SPYLeave a comment

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