A Pullback Today will Provide a Good Opportunity
Slightly oversold, A further pullback today will provide a good opportunity to begin scaling-into SPY. For today’s official Daily Battle Plan set-ups click here.
Right Now the Opposite is Occurring
Yesterday was the continuation of the buying after Monday’s traditional pause day. The end-of month upward bias in prices in place along with aggressive buying from hedge funds who are desperately trying not to have their worst month since 2012 created a buying panic that led to yesterday’s rally. The Fed announcement and Tuesday’s mid-term […]
No Real Edges in Place Today
Yesterday was the traditional pause day which occurs after market become overbought. With the end-of month upward bias in prices in place along with the election nearing, the market may become quiet without a major news event occurring. No real edges in place today but this will be short-lived as it always. For today’s official […]
Headlines will Continue to Predominate Prices
The market is short-term overbought and due for a pause/pullback. Headlines will continue to predominate prices so proper position sizing should reflect this fact. For today’s official Daily Battle Plan set-ups click here.
The Potential for a Larger Long-Term Move to the Downside Has Increased
Yesterday the market bounced back well from Wednesday’s headline news. Today’s news will be another test as to whether or not the market can handle both terrorism and the Ebola scare in the same week. Overall most stocks are short-term neutral and with so many stocks near their 200 day ma, it’s going to take […]
A Rally would be a Very Good Sign
As I mentioned yesterday, the market was overbought and due for a pause. Today it’s slightly oversold and a rally from this position would be a very good sign. For today’s official Daily Battle Plan set-ups click here.
Pausing Today Would be Considered Normal
The market is now overbought and due for a pause. Yesterday saw panic buying from hedge funds as they were buying high beta stocks getting back into the same companies they sold last month for little to no reason. These people move in herds and we saw the exact same herding affect in August 2007 […]
It Makes Little Sense Going too Heavy Here
Thursday was the pause day, Friday was the rally today. In bull markets, Monday would be the follow-through day and it was very good. The market is now slightly overbought and due for a pause but the behavior for the past three days has been constructive. There is a lot of money that was moved […]
We Now get the Chance to See the True Health of the Market
Daily Battle Plan subscribers should have locked in their gains in the full position in SPY. Thursday was the pause day, Friday was the rally today. In bull markets, today would be the follow-through day. We now get the chance to see the true health of the market. For today’s official Daily Battle Plan set-ups […]
Market Knife Down in Pi Time Symmetry
In the previous commentaries I said that there was a significant long term Pi time symmetry date in the first week of Sept, and I also included excerpts of that data in the previous commentary The NYA (NYSE Composite) made a bull cycle high at 11,108 on 9/4/14 and has declined -11.0% (so far) to […]
If There’s Buying Demand Out There, it will be Seen Today
Another day of hedge funds meeting margin calls. Yesterday (and the last hour of Wednesday) was about selling the winners and covering the shorts on most beaten down stocks. This led to the solid defensive companies getting sold and the junk being covered (see symbol XONE as one of many possible examples). This same scenario […]
Sentiment has Completely Changed
Good Morning. The market is short-term neutral today. The VIX broke above yearly highs and when this occurs it begins touching many things. The market has lost over 8% since mid-September and no one can give a concrete reason why. This coincided with record levels of bullishness by equity advisors (many who were as bearish […]