This is my third report covering the technical aspects of the newspaper group. It’s said a picture is worth 1000 words. Well on Wall St. a chart is said to be the sum total of all the thoughts, feelings, emotions and opinions about a company and that the chart is always right.
Before the Open (Mar 9)
Good morning. Happy Tuesday. After yesterday’s slow, narrow-ranged day, anything goes today. On a short term basis, my bias is neutral. Heading into this week, the S&P had moved up 6 consecutive days and 11 of the previous 14. I was looking for a day or two off but could also make the case for […]
Before the Open (Mar 8)
Good morning. Happy Monday. Hope you had a nice weekend. The Asian/Pacific markets closed up across the board – there were several 1% winners. Europe isn’t fairing as well, but it’s still mostly up. Futures here in the States point towards a small gap up open for the cash market.
Before the Open (Mar 5)
Good morning. Happy Friday. Employment numbers are out. Here they are:
Before the Open (Mar 4)
Good morning. Happy Thursday. The Asian/Pacific markes closed mostly down; China lost more than 2%. Europe is currently mixed and mostly flat. Futures here in the States are flat. Two consecutive days the market has been strong early and weak late. The market is up for the week, but most of the gains were registered […]
Before the Open (Mar 3)
Good morning. Happy Wednesday. The small caps continue to lead the market higher. Here’s the Russell 2000 daily. It’s the only index to have completely recaptured its Jan and early Feb losses.
Before the Open (Mar 2)
Good morning. Happy Tuesday. So much for a little pullback or some sideways movement to allow the breadth indicators to drop more. The market gapped up yesterday and closed with solid across-the-board gains. The Nas, S&P 500 and Russell 2000 had big up days that took out their previous swing highs. The Dow lagged.
TZA April Call Open-Interest
The graph below shows the put and call open-interest for TZA, which is a triple inverse small cap ETF.
Before the Open (Mar 1)
Good morning. Happy Monday. Hope you had a nice weekend. The Asian/Pacific markets closed with across-the-board gains. Europe is currently mostly up. Futures here in the States point towards a flat open with perhaps a slight upward bias. This comes off a week where the net change was small, but there were a few sudden […]
The State of the Market
We entered this past week with the market being in a nice rally (the S&P had moved up 4 consecutive days and 7 of the previous 10, and the Russell had moved up 9 of 10 days), but the indexes were in no-man’s land.