Friday, June 9, 2017

Techs Slaughtered

Nasdaq got hammered, dragging S&P down little. Small caps and Dow Jones ended green.
(snapshot taken about one hour before the close)


Friday, May 19, 2017

More Divergence

Compared to the top in the beginning of March, not looking any better here:

Thursday, March 2, 2017

Worrying Times?


Some divergence in the percentage of stocks above their 200MA and 50MA. And that with indices making new all time highs. I wouldn't start buying here. But maybe 'buying the dip' is still an option and one only needs to be patient here.

Wednesday, August 24, 2016

Market Feeling Heavy

Metals, healthcare and oil got a good beating today. Major indices were all moving lower, but the longer term view is still bullish. We are staying at overbought levels, but no real movement in the last 2-3 weeks for indices.

Apparently everybody is waiting for Yellen's speech at Jackson Hole this Friday. I'm expecting lots of volatility that day, but wouldn't put any money on the direction the market will choose.

Monday, February 8, 2016

What Now?

Indeed, what now? Your guess is as good as mine. 1830 was good support today, but with European indices making new lows, I wouldn't bet the farm on this late day bounce we got. As long as 1800-1830 holds as support, we're good. But the more we touch this area, the weaker it will get. Watch out  below, 1650-1700 is next. Here a 4h-candle chart showing the fake 1910-breakout last week. 1875 is first resistance (last week support).


Tuesday, January 26, 2016

Constructive

Many are linking indices to the price of oil. So far, I guess those people are right. The action is similar and prices are finding support exactly where they shoud. See chart below, nice bounce on that trendline!


Thursday, January 21, 2016

Bottom Or Not?

After a +10% decline in the S&P-index, most people are anxious to know if the bottom is in or not. Short term, the market is due for a bounce. A dead cat bounce? Who knows... 1800 is a very important support. If that breaks, look for 1500-1600 next. If we go higher from here, 2000 is the big resistance everybody will be watching. Here a 4h-chart, take a good look at recent volumes. Lots of people trading for a bounce here imho.



Tuesday, May 5, 2015

Small Caps: Is The Party Over?

For the Dow and S&P500, the damage today's pullback caused, seems limited. Both indices are trading close below their recent (all-time) highs, so no harm done. For tech (Nasdaq) it's a different story. Last weeks new high looks like a fake breakout at this stage. But the most bearish looking chart is for small caps, the Russell 2000. Trading under the lows from last week, this starts to look more and more like a (short-term) trend change.

In the mean time, oil, gold and the euro were trading higher. Just in case you were wondering where the money is shifting to.


Thursday, April 30, 2015

Day 2

This was the second day in a row that indices dropped considerably. If this is day 2 of a pullback, it's best to have some more patience before taking on longs. Good support near 2030 in S&P, about 2% lower from here on. That would be a good area to try some starter positions. Next support is under 2000.