Thursday’s technical bounce off the S&P’s 50-day moving average got sold pretty hard on Friday. The charts show big volume surges but the rebalancing (reconstitution) of the Russell indices played a part in the volume increase. It was certainly an ugly day but there wasn’t much technical damage done to the indices. I said the [...]
Posted by 22 June 2007
Watchlist for June 22, 2007
Posted by 21 June 2007
June 21, 2007 Stock Market Recap
I’ll characterize today’s rally as a technical bounce. The indices dropped early but the buy programs kicked in (take a look at $TICK this morning) as soon as the S&P 500 tagged its 50-day moving average. We chopped around for the rest of the morning and the noon Philly Fed release didn’t seem to have [...]
Posted by 21 June 2007
Have 10 Year Interest Rates Turned the Corner?
the other day Jeff asked me to contrast the short term 10 year treasury yield chart I posted with a longer term chart. Here’s the short-term chart I posted last night which shows a clear uptrend since March: Jeff mentioned that there’s been a lot of debate about whether or note the longer term trend [...]
Posted by 21 June 2007
