11. February 2010 18:17
More sloppy action in the markets yesterday - 3 of the last 4 bars in the S&P and Nasdaq have been doji-like with wide ranges and the open and the close near to each other.
This signifies indecision and no clear direction in the very short term for the major indices. Th... [More]
9. February 2010 18:19
Very weak action yesterday - with the main indices only poking through Friday's high temporarily before slumping again. This is bearish, but still don't be surprised if we see some sideways action.
The OVI Index (under the Volume Bars) is unsurprisingly still negative on all thre... [More]
7. February 2010 18:22
Friday's afternoon session saw a massive rally on the indices and across the board. By some luck as well as judgement (I was a bit wary about the impact of the Employment Report so thought best to take profits) I closed all my positions at about 2.20pm EST (7.20pm UK time just be... [More]
28. January 2010 18:30
Yesterday's late rally suggests a wider retracement for the next few days. Current bear flags may turn into rounded bottoms, and weaker stocks will consolidate further until the next leg down.
If we're in for a multi-month bear correction, it would be great to have a steep retrac... [More]
25. January 2010 20:29
All the major averages have broken their rising trendlines on big volume so it's bear flags all the way from now.
I think we're headed for a MAJOR correction that will give us several opportunities to get in with shorts, sell bets or put options for months to come. Remember, the ... [More]