Seems like the conversation with Yellen yesterday turned to finance, and the possibility that in some future reality, borrowing money might have some expenses associated with it like paying it back with interest. One would have to be crazy not to panic, at least briefly. SPY has been building a flimsy looking support line at… Continue reading 5/5/21 Current Signal xLH
The current upper cycle excursion has lasted from late March. The daily signals weren't all that important with the lack of price action. FWIW, today was xFC. xLH is not a mechanical buy, weakness tomorrow will make the signal x00 which is a mechanical buy. This down move out of extremely low volatility could be… Continue reading 5/4/21 Afternoon Signal xLH
A winning day for value. The seven month last place finish of QQQ in the broad ETF group is starting to look long term, KIE is having a nice day, no doubt happy about BRK.B prospects.
The one day micro collapse seems to have reversed. The smart money was definitely not selling yesterday. The bottom forming these last 4 days looks formidable enough to sustain another advance
It is definitely relaxing not to have to follow politics all the time now. Some guys actually have brokerage accounts that aren't tied to 401k, other retirement products or life insurance, so they have to pay capital gains taxes. Just heartbreaking. Probably more heartbreaking are engulfing patterns. This one seems to be turning into an… Continue reading 4/22/21 Engulfing to Oreo?
The higher minor green support line held nicely today and both SPY and QQQ candles are engulfing yesterday, This was easy to buy into this morning. I'm making some significant changes to my stuff, so not watching this too closely.
I've been doing development work on groupings and fundamentals. On my monitor, I can see 32 columns and 50 rows of data comfortably. The technical challenge of reducing the data to fewer columns for viewing is not trivial. Anyway, there is serious rotation going on in here. XLU and XLP are staying strong, XLV looks… Continue reading 4/20/21 The Far Turn xCF > xCC Chemicals and Steel
We all knew this day would eventually come. That's why players were playing a maneuvering game as opposed to buying. If you take too much heat, you're not in control of your decisions. SPY can easily drop to the 18 day SMA at about 407, which appears to be a level that has a chance… Continue reading 4/19/21 = 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
Tech and Growth have recovered from their recent coma. LABU looked like it was going into it's usual OC swoon but today it has improved to disappointing. The Consumer Cyclical sector is looking pretty good. The stocks above have the top 21 day RR of 50 stocks that have an average volume of over 2… Continue reading 4/5/21 Still xFF