52 Week New Highs/New Lows
One indicator I use to help determine market direction is comparing 52‑week new highs vs. new lows. Since daily counts can jump around, I smooth it by adding the total new 52‑week highs from the…
A Pullback to end the Week
The market was up for the week and is very overbought. It would be nice to see the market pull back a little more before it resumes it’s march upwards. I am not reading too…
If We Are Not at a Market Top, We Are Close!
The S&P and Nasdaq hit all time highs again today. Led by megacaps….and that is about it. There were twice as many new monthly lows as new monthly highs, but 3X more capitalized new monthly…
Even More Overbought!
The market is even more overbought than it was last week. A pull pack from here is the more likely scenario. It does not mean it will happen right way on Monday. It still may…
Overbought with Bearish Divergences
It looks like the bull market will continue. I have been busy the last couple weeks and have not had much time to trade. That will change soon. Which is good, because I don’t like…
The Market is Overbought.
….It does not mean it will pullback yet. The market is up 12 out of the last 13 sessions. That is not common at all. The S&P 500 is now outside its +3 ATR channel.…
This is One Hell of a Party!
The market has fully recovered and hit an all-time high. It has jumped 10% in the past 3 weeks, which is incredibly aggressive. I am skeptical it will continue much longer. We are now sitting…
Will there be any follow through this week?
The market ended the week just above current resistance. If there is going to be any follow through, we should see it push back to all time highs. The rally last week was a bit…
Look at all the Fireworks!
That was an entertaining day. Unfortunately, most of the gains were baked in before the market opened. For anyone sitting on the sideline, they missed out on participating in the big show. I was one…
Start of Recovery or Dead Cat Bounce?
Stocks have a tendency to have more meaningful rallies during downturns. One of the reasons is short sellers don’t stay in their positions long and want to get out before a reversal happens. This leads…