Earlier this week, I made a very clear and public call that the markets will not retest the lows. It's a hard call to make! Most capitulatory bottoms are followed by a retest of the lows. Market history flies in the face of what I think will happen. And it might. If anything it would
Just found out that the guys at SMB have a nice little quant scan that shows them stocks in play, I decided to go through a few and mark some intraday levels. This isn't rocket science and these levels don't constitute a trading plan, but it's something to get started with. APH CBE KMX
I've shown this chart before, and I feel that it's time for another look. This is a weekly chart of TLT, the etf that tracks 20 year treasuries. All the green shaded areas are strong pivot levels. These pivots just so happen to be during the summer. This is a seasonal pivot. Over the past
[Edit: Of course the moment I post this SMH rips, showcasing the need for objectivity with respect to price! Analysis package will still be out Sunday] While the rest of the market has taken back the losses seen last week (very quickly I might add), we're still not seeing the strength we need to in
It seems that everyone and their mother is now following the head and shoulders pattern forming on the daily chart on SPY. They head over to Investopedia, read a couple paragraphs about this magical pattern, and risk management seems to become an afterthought. Anyways, here's The Pattern: And I'm not discounting the pattern at all.