Good morning. Happy Monday. Hope you had a good weekend. Lots of talk this weekend about Citibank and Bank of America being nationalized. Kind of amazing. The current situation is far worse than the 2000-2002 time period when many companies that had no revenue and no business models were failing. Today we have 150-year banks […]
Before the Open
Good morning. Happy Friday. It’s options expiration day which is totally meaningless relative to everything else going on in the market. The indexes broke down earlier this week and have been drifting lower within a tight range since. Here’s the SPX daily chart. For several weeks I’ve been saying the lows will be tested, and […]
Before the Open
Good morning. Happy Thursday. The SPX dropped 100 points off its high from last week and couldn’t muster even a small bounce off its low yesterday. It seems inevitable the Nov lows will need to be tested and the VIX will need to spike before any meaningful bottom is put in place. Until there’s a […]
Howard Davidowitz says the worst is yet to come
Here’s a video from tech ticker featuring Howard Davidowitz who says American’s standard of living has been changed permanently. Howard Davidowitz
Before the Open
Good morning. Happy Wednesday. It was stated yesterday the market was starting the new week on an edge, and it looks like the edge has given way. All the indexes broke support; several are at their lowest level since the Nov lows. It appears as if 5 weeks on consolidation has resolved down. We’ve been […]
Before the Open
Good morning. Happy Tuesday. Hope you enjoyed your extra day off. We enter this week with the market sitting on edge. The indexes broke down last Thursday but recaptured support at the end of the day. Friday saw slight selling pressure, so once again the market sits on support without much room for error. Every […]
Before the Open
Good morning. Happy Friday. The bulls continue to defend their territory. Rallies have been getting sold for months, and for the last several weeks, the bulls have held the line on every sell-off. There are many cracks in the damn, but so far, it hasn’t broken. Here’s the 30-min SPX chart. A lot of bad […]
Before the Open
Good morning. Happy Thursday. The market seems to be just barely hanging on. Yesterday I showed the SPX trading near support of a consolidation pattern that forecasted a move down to 750 or the high 600’s depending on whether the size of the pattern or move into the pattern was used to measure the move. […]
Before the Open
Good morning. Happy Wednesday. So here we are at a key level for the market – yes there seems to be many of them. For the last month, dips have gotten bought and rallies sold. Yesterday I said it would be nice if support was tested again because that would allow the consolidation pattern to […]
Before the Open
Good morning. Happy Tuesday. Heading into yesterday, my very short term bias was up, but with complacency high and the fact that every other bear market rally was sold into, I wasn’t going to get carried away with playing the upside. Yesterday resolved nothing. The market closed where it opened – an equal battle between […]