A lot of volatility this week, and essentially the 4th test of the 50 day moving average (blue arrows) since this long winded rally begun. After all the movement,the S&P 500 is back to where it closed Monday. After the move…
Not too hot… not too cold. Just "meh" enough to keep Benjamin around. Jobs gained +175,000 but unemployment rate UP 0.1% to 7.6% taking the U.S. farther away from the 6.5% level – what more could a person ask for….
The pattern mentioned in the previous post did eventually play out but not off the morning dip; after all the currency hubbub and a selloff below 1600, the reversal of THAT dip is the one that actually played out. …
For how oversold this market is on some secondary indicators the morning action had much to leave desired. While tomorrow is a complete wildcard due to the news event premarket, today a few scenarios could have played out for a…
Ironically just a few weeks ago we had historical overbought conditions on the monthly and weekly S&P charts. Now we are talking historical short term oversold conditions on some indicators. One I like to look at is the McClellan Oscillator….