Archive for May, 2017

Air pockets and instant recoveries… and a secret Magee oscillator…

Posted on May 25, 2017 by .

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http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p70142979615&a=266398464

A few days after an ugly air pocket the SPX wesnt to a new high.  That’s not the important  fact here.  The important fact is that over the recent past there is a pattern which keeps repeating intraday: the SPX gets hammered but by the end of day the index has recovered.  Ergo: sosmeone is stepping in to buy a down index.  Jungle drums have said the public is nibbling, but this looks more organized.  Based on this pattern we added to our QQQ position the day after the sell off.

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More tears are shed over answered prayers…

Posted on May 18, 2017 by .

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http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p70142979615&a=266398464

You (we) complained about the somnolent nature of the market.  Here’s a slap in the face from the market.  A nasty, ugly chart — the result of Trump and politics  –they tell us.  Could be.  A 43 point drop in the SPX (372 points in the Dow).  But let us look at the context.  The nasty gash on the chart from today is still within the congestion zone defined by the two horizontaal lines at the top of the chart.

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Nothing sandwich..

Posted on May 11, 2017 by .

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http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p70142979615&a=266398464

The market continues to supply news of dramatic interest to sloths and possums.  Unfortunately investors are forced to consume the same fare.  Which hardly seems fair.  But perhaps something can be made of it.

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