Good day for the bulls but all they did was put us right back where we were on Friday. As the trend table (below) shows things are still very mixed. Taking out either the late November highs or lows will help to clear things up. Trend Table No changes: Trend Nasdaq S&P 500 Russell 2000 [...]
Posted by 5 December 2007
Watchlist for December 5, 2007
Strong economic data and hopes for more help from the Plunge Protection Team the Fed have us set for a big pop this morning. The indices will recoup most of this week’s relatively low volume losses on the gap up. On Today’s Calendar: 10:00 — Factory Orders 10:00 — ISM Services 10:30 — Crude Inventories [...]
Posted by 4 December 2007
Watchlist for December 4, 2007
Posted by 3 December 2007
December 3, 2007 Stock Market Recap
The indices gave back a bit of last week’s massive gains in light volume today. The volume and the size of the drops makes it appear to be nothing but a normal retracement. Trend Table No changes: Trend Nasdaq S&P 500 Russell 2000 Primary Up Lat Down Intermediate Down Down Down Short-term Up Up Up [...]
Posted by 3 December 2007
Watchlist for December 3, 2007
I think the key levels to watch right now are the November 14th highs on the Nasdaq and S&P 500. Both indexes stalled there on Friday and the S&P is also stuck at its 200-day moving average. Both indexes are short-term overbought, so some backing & filling wouldn’t be surprising. On Today’s Calendar: 10:00 — [...]
