This is an unusual retest of an unusual air bottom. There was a little bounce around 406, no doubt helped by poorly positioned stop orders. The couch potatoes are also showing some support at a place that at least makes some technical sense. IWM has deserved little commentary, as the past four months show more… Continue reading 5/19/21 The Homestretch
Tag: IWM
5/3/21 Where We At?
The chart shows tCC for the major indexes covering 7 months or 147 trade days. Note the IJR portfolio of small caps beats out IWM for first place by 5 natural log basis points or whatever they are called. .46 equates to a 59% return, while .21 = 23%. The Signal column shows what happened… Continue reading 5/3/21 Where We At?
4/26/21 The Homestretch
Pretty cool that all five of the growth group have close to the exact same 31 day returns, at least to the first two decimal places. The same maneuvering action we've been seeing for some time now with value shuffling slowly to growth, and CO staying a bit weak. I just submitted a seekingalpha article… Continue reading 4/26/21 The Homestretch
4/15/21 The Homestretch – Healthcare and Materials
If a kidnapper of a close family member demands that you invest in either XLU, XLB, or XLV probably the choice is between XLB or XLV. They both look pretty good today, showing breakouts above congestion. Mining is the hot area today. Steel has not been strong lately but still the leading industry. The win… Continue reading 4/15/21 The Homestretch – Healthcare and Materials
4/14/21 The Backstretch Current Signal xCC
A counter trend start to the day after the open, probably something to do with earnings season. After yesterday's afternoon post, I rethought the IWM/TNA situation, decided it was worth a shot and took a position in TNA. I used to always buy 100 shares, but that is wrong especially when commissions are zero. The… Continue reading 4/14/21 The Backstretch Current Signal xCC
4/13/21 Into the Homestretch
Turned out to be the right move to cut IWM loose when it started behaving badly Apr 5 and 6. SPY/QQQ/ and IWM were quite bullish in late March/early April. This formation shows some intermediate tops. This could tip over, in which 234 - 208 = 26, 226 - 26 = 200. That fate is… Continue reading 4/13/21 Into the Homestretch
4/7/21 Afternoon Signals xCC
Looks like everyone that bought LABU at 64 had 2 days and change to get out in the mid 80s. Note how the short term 18 period SMA crossing above the 54 was the sell signal. Seeing that, an investor would have waited until the next morning to sell because LABU has been a superstar… Continue reading 4/7/21 Afternoon Signals xCC
4/5/21 Breakout
If you look at charts and aren't buying into this bull move, maybe you should stop looking at charts. SPY broke out of resistance to an all time high, QQQ and IWM are breaking out from lower levels. That suggests that this bull move will be quite strong. I'm not sure how the stars are… Continue reading 4/5/21 Breakout
3/25/21 Current Signals xMM
IWM has been quite weak for the last few days. All three of the big guys are sitting near support areas which seem to have good chances for failing. If IWM moves sharply below 204 a dreaded megaphone pattern will emerge. Anyone buying LABU in early February to get enough money to buy a new… Continue reading 3/25/21 Current Signals xMM
3/23/21 Afternoon Signals xCF
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