Lipstick Day comes from the expression "Put lipstick on a pig." I use that term for mostly summer Fridays. Mothers day, in 1970s Milwaukee street slang was the day people received their welfare checks. For stock market events, that means options expiration day. Today is both. Hopefully, the market won't start freaking out about the… Continue reading 8/21/20 xCC – Lipstick Day and Mothers Day
This is negative, All four of the xEM numbers will go x0F without some late day rally. The big question is whether the low made earlier in the day will will hold. IWM, DIA, and XLI look technically quite weak. IWM is worst as usual. IWM The 13 month is crossing below the 39 month… Continue reading 6/24/2020 x0F
This is a classical flat signal but it has worked well on buys for 5 years. Performance for xCF is summarized below: The current discussion, is mostly centered on the short term implications of the big three chart formations. QQQ The question is whether the last 10 days or so is a rectangle, or a… Continue reading 6/17/20 xCF if SPY Closes Around Here
Not exactly shocking to see support here at the 52 week simple moving average at a round number. This level was important for the initial leg down for the week of February 24 and the next twitchy week saw it close around there. Notice the furious subsequent rally stopped here except for the poke above… Continue reading 6/15/20 SPY 300
Current weakness may be contained but real test will see if a new high can be made soon. Weakness today makes Friday and Monday action seem more like a blowoff than an indication of strong underlying demand.
All major indexes produced blue candles today but weakness was contained by the 18 day moving average. Outlook still slightly negative,
Worst day since March 21, outlook is neutral but leaning negative.
IWM looks quite bullish on weekly and daily time frames but the recovery has been choppy and slow.
New strategy, market still neutral daily, bullish weekly.
Overall Market outlook is neutral, IWM and VTI daily candles changed to white