OTC: February 17, 2016 S&P 500/ SPY: The follow thru today is starting to make this seem like a runaway.The S&P Index has now risen from 1810 to 1930 in 3 short days with gaps.Those that were not in and have trouble buying momentum will have to wait and hope that this extreme move settles […]
OTC: February 16, 2016 S&P 500/ SPY: The follow thru that was signaled over the weekend holiday was realized today as we gaped above the old 187 point and closed very strongly at the highs.The old reasons are always used as the new reasons but for chart followers that low at 181 that nobody thought […]
OTC: February 15, 2016 S&P 500/ SPY The rebound on Friday saw the market get all the way back up to just short of the famous 187 level. China reopened and did not collapse as the Yuan surprisingly strengthened.Japan had a 7% rally for its stock market as the yen also fell back down […]
OTC: February 11, 2016 S&P 500/ SPY With yesterday afternoon’s drop we woke up staring at 181 in the face and thinking about all the other 181 points below that it could fall to.That being the old low and reached only 2 days after hitting the 187-188 level gave anyone who sold the rally […]
OTC: February 10, 2016 S&P 500/ SPY The battle lines around the $187 level continues to rage with Yellen providing the background vocals. The morning reversal was nasty and closed near the lows but there were two positive, albeit modest developments, late in day. The late day free fall didn’t turn into panic as […]
OTC: February 9, 2016 S&P 500/ SPY Today it was all about the banks and possible liquidity problems. Deutsche Bank DB was at the epicenter of the worries as some want to predict that this will be the next Lehman blowup.It is scary when the market is already under pressure to have a large bank with […]
OTC: February 8, 2016 S&P 500/ SPY 187 Oh how we loved thee and we still can.The negative close on Friday set up the danger of a gap lower opening below the well defended 187 level that has held up for 3 weeks and gave some great bounces within the big 187-195 range.This now calls into […]
OTC: February 7, 2016 S&P 500/ SPY It was all about the big momentum stocks today as they started to throw them away as they break major chart points. These stocks AMZN, NFLX, APPL,GOOG,etc has been the leaders throughout the entire market up move and if they are now vulnerable the entire market is at risk. Facebook […]
OTC: February 4, 2016 S&P 500/ SPY Today it was the retailers turn to have a big drop off of weak sales and a slow JanuaryKSS Kohls down 19% and RS Ralph Lauren down 25% led the way and made for a bad tone after the opening high the market dropped down but was able to […]
OTC: February 3, 2016 S&P 500/ SPY The big story today was the US Dollar breaking down see below for a chart. The stock market did its “normal” lets test 187 and then go straight back up to yesterdays high which was 40 S&P points and 400 Dow points higher. We all would […]