As many of you are aware, I've been doing my duty as a citizen of this great country by serving on a jury. It has been interesting, to say the least. The trial is still not over, but I hope to be back full time sometime next week.
Continue reading "Jury Duty, Crystal Balls and Blackjack " »
One of Thursday's stories on CNBC.com had to do with some pros getting out of stocks because sentiment is becoming too bullish. Bullish sentiment can be a sign that an important market top could be lurking just around the corner, so let's look at one of our sentiment charts to see how bullish things are getting.
Newell Rubbermaid Inc (NWL) generated a PMO (Price Momentum Oscillator) SELL signal because the PMO crossed down through its 10-EMA.
Continue reading "PMO SELL Signal - Newell Rubbermaid (NWL)" »
Auto Nation Inc (AN) generated a PMO (Price Momentum Oscillator) BUY signal because the PMO crossed up through its 10-EMA.
The market rally on Wednesday was driven in part by a surge in housing stocks, which was triggered by a favorable housing report. Since the fundamentals of the housing market are not too thrilling, regardless of short-term gains, my curiosity was piqued and I pulled up some charts.
About 5 months ago, Decision Point added a brief Daily Chart Spotlight to its facebook page and StockTwits tweets. They are a brief review of a stock or ETF chart that has just posted a PMO (Price Momentum Oscillator) BUY or SELL signal on one of our Daily Tracker Reports on our website. If one catches my eye I'll do a short alert to the signal and highlight on the chart the positives and negatives (if any).
After reaching an all-time high in August, gold has corrected about -18%, but a recent bounce prompts us to take a closer look to see if the correction could be over. The most encouraging technical evidence is on the weekly chart.
As 2011 comes to a close the S&P 500 Index is, by our measure, still in a long-term bear market, but technical indications show that price momentum us up.
The 30-year bond yield has dropped below three percent many times this year, dropping as low as 2.694% in October. It has been trending up since then, but today it looks as if the October low could be retested.
The price of the U.S. Oil Fund ETF (USO) appears to be headed for difficulty in the short-term. An Adam & Eve double top has formed in the last month that could lead to at least a modest correction.
