“Markets can remain irrational longer than you can remain solvent” Message from several technical indicators not uniformly bearish, but leans that way Time to be contrarian? NAAIM members’ exposure to U.S. stocks at 96, vs under 10 mid-October If U.S. … Continued
U.S. stocks quickly shake off China- and Greece-induced worries Can bulls use the reversal as opportunity to mount a breakout on Russell 2000? Several technical indicators have room to move higher still before they get overbought Whoa! Some reversal that … Continued
Big tailwind for stocks has come from grossly oversold technical conditions Several indicators are lagging – failing to confirm recovery highs in major U.S. indices Some signs stocks want to rest; could be important as SPX sits right underneath major … Continued
Bulls desperately need to retake 200-dma on S&P 500 Potential unwinding of oversold technical conditions can act as tailwind Failure to build on Wednesday’s hammer reversal pattern will mean rockier times down the line Last week, we discussed the significance … Continued
Encouraging signs of near-term bottom VIX unable to break past 17; several other indicators grossly oversold Medium-term risks remain; SPX, DOW, RUT, NYSE have broken late-2012 trendline The Dow Industrials and the Nasdaq Composite yesterday successfully tested trendline support going … Continued
Less than two weeks ago, when the S&P 500 Large Cap Index was giving out signs of fatigue, the VIX was giving out signs of stability. The former went on to post a new all-time high early this month, even … Continued