Tweet [ad#ad-1] I’m not going to rush out to buy oil and commodities tomorrow, but the charts are still very bullish even after the smack-down they’ve gotten over the past few months. If these charts stabilize and show some strength, that could be the catalyst for further weakness in the equities markets. At the very […]

19
Aug

Tweet We are somewhat oversold at this point but that means nothing because we can go lower, and I’m not advising going heavily short at this point, but it’s good to know which way we are likely heading. SPX has just broken out of a wedge formation indicated by the arrow, with stochastics pointing lower. […]

19
Aug

Tweet Additions: ENG Deletions: MCD HTLD JBHT WGOV SYMC PRXL ARBA CELG CNQR HAS TDY WIND .Beta Watchlist Observations: Scans are rather pathetic yielding only a handful of results. Two big down days in a row is taking it’s toll on the .Beta watchlist as stocks are losing momentum or getting crushed. Remember it takes […]

19
Aug
stored in: Technical Analysis and tagged: , , ,

Tweet Three out of these four lemmings are financials, as stocks in this sector keep showing up on this scan. Could be a harbinger of what’s to come in the stock market. The only wild card is going to be that this is August trading and as I mentioned before, trading is different during this […]