Market Action:
I don’t like today’s action which looks very dojo-like on the S&P and Dow which both broke to new highs only to come back into their consolidations – not the decisive type of …
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Just a quick note to say that Doji type long-tailed bars have formed on the Dow, Nasdaq, S&P and a number of leading stocks including AAPL, GS, AMZN and WYNN to name but a…
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A concerted move up yesterday throughout the board as the US “officially declares the end to the recession” – notice I put that in parenthesis!
First let me say that I don’t ha…
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Ok, we have some divergence with the markets looking bullish (with nice bull flags forming) but the OVI having turned down on the S&P and the Nasdaq.
Let’s put this in context. …
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Impressive work by the markets on Friday but remember, in order to trade an upswing we need one of two things present before we can activate a trade safely:
(a) A consoli…
The Markets
One of the key advantages of trading breakouts with a robust trading plan is that if a flag or channel doesn’t break out in the direction of the trend, you won’t lose because your trade wa…
A strong bounce off the short term support today so far. There’s still a while to go today, but keep things in perspective, we just had the worst August in 10 years! Employment is still a …
OVI has been negative for the QQQQ over the last month and isn’t fairing well either for the S&P. The Dow OVI is neutral but as I’ve said before it does tend to be more bullish than the othe…
Earnings season is pretty much over now, the OVI is negative on all indices, and bearish patterns are in the ascendancy.
There have been some fantastic bear flags recently that many of us have prosper…
As I’ve said in the past few months, it’s the Nasdaq OVI that is proving to be the most insightful, and therefore the index that I’m paying most attention to.
But imagine for one moment if the reading…
