Recent Blogs Posts

Today the major indexes sold off in unison, it could have been worse, this was only the S&P 500's 5th worst decline this year. Will the selling pressure continue? The system I previously mentioned, has generated 3 buy signals in the past 4 days, this is an unusual occurrence and normally only happens during bear market conditions. By my definition, we are not yet down-slide embedded, (meaning there's still room to the downside) and we aren't locked in.

From the August bottom ...

It took about an hour, but after a sluggish start for stocks, buyers stepped in with a fury and the Dow posted its third straight triple digit move; this one +154-points. Percentage-wise it was still less than 1%, but the gains were spread through the broader indices.

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Much of this year I've had an interest in W4500's 1015 level. With the continued weakness in the small caps, we're visiting this level once again and this time it might be in conjunction with the 1-year trendline. For the upside (at a minimum) I'd like to see 1030 revisited.



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With the hourly chart, we can see that in the short-term (just below 1015 & the 1-yr trendline) we've formed a small V-Bottom. I'd like to see a break above ...