The market had a promising reversal today after a weak open. Even better, the strength came on one of the highest volume days we’ve had in months. Despite those and other positive technical developments, we still need to see some follow through. Tomorrow’s big bad jobs report could provide the needed spark or it could [...]
Posted by 4 February 2009
February 4 Recap: Rally Fizzles at Resistance
Today’s early rally hit the wall right at resistance levels. I suspect the indices will continue to chop around at least through Friday’s jobs report and possibly until whenever the government reveals the stimulus/bad-bank/”bailout 2″ plan. The Nasdaq poked its head above both its 50-day moving average and its downward sloping January trendline but sellers [...]
Posted by 3 February 2009
February 3, 2009 Stock Market Recap
It was a positive day for all the major indices today but the technical picture is largely the same as it was last night, despite the minor improvements in the trend table below. As the charts show, the Nasdaq and S&P 500 still seem to be building triangles. The biggest technical development was the Nasdaq [...]
Posted by 2 February 2009
February 2, 2009 Stock Market Recap
Posted by 2 February 2009
New Book, ‘The WallStrip Edge’
Howard Lindzon‘s new book, “The Wallstrip Edge: Using Trends to Make Money — Find Them, Ride Them, and Get Off” is out this month. If you are a fan of the WallStrip show and/or trend following you should check it out. I haven’t read it yet but here’s the product description from Amazon: It’s been [...]
