Thurs 11.17.11 Gap Up/Down: Stocks & ETFs
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Negative Reversal From Resistance; Stocks Give Back Earlier Gains
Heretofore, the action since this rally was confirmed on the September 1, 2010 follow-through day (FTD) has been strong but the market action has been wide-and-loose which is not a healthy sign. The S&P 500 sliced below its two month upward trendline (shown above) which is not ideal. The next level of support for the major averages is their September highs, then their respective 200-day moving average (DMA) lines while the next level of resistance is their respective April highs. We have enjoyed large gains since the September 1st FTD and over the past two weeks, the tape remains somewhat sloppy. Trade accordingly.
Trader Talk With Art Cashin 3.11.10
Art Cashin, head of floor operations at UBS, has the buzz from the NYSE.
November 2010 Market Commentary
The major averages ended lower in November after encountering resistance near their April 2010 highs. Furthermore, the 12 week rally which was confirmed on the September 1, 2010 follow-through day (FTD) ended on Tuesday, November 16, 2010. This corresponded with a steep rally in the US dollar and a fresh round of European debt woes.
German Investor Sentiment Falls
German investor sentiment fell sharply in August, according to the ZEW index Tuesday. Frieder Mokinski from ZEW, Carsten Brzeski from ING Bank and Dan Greenhaus from Miller Tabak & Co. consider the outlook.
5 Important Market Correlations: SP500, Euro, Gold, Crude Oil, & XLF
The following was from my twitter feed (to get live access, simply follow @adamsarhan) on 12.29.2011 1. @adamsarhan One of the strongest correlations remains: S&P500/ $XLF (financials ETF) = +97.5%! 2. @adamsarhan Another very strong correlation is SP500/Crude Oil= +95.2%! 3. @adamsarhan However: Euro/Gold correlation remains very strong at nearly +90% 4. @adamsarhan SP 500/Gold correlation has…
Debt: How The World Economy Works
In a small town in Europe..It is raining, and the little town looks totally deserted. It is tough times, Everybody is in debt, and everybody lives on credit Suddenly, a rich tourist comes to town. He enters the only hotel, lays a 100 Euro note on the reception counter, and goes to inspect the rooms…
