Candlestick crack addict...
We got another bounce on the channel, any thoughts on where the breakout will happen?
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Candlestick crack addict...
It looks like a bull flag, actually. That would mean a move higher?? But it's not a buy signal until the declining trend breaks to the upside.
-- Tom | My Trades
Saturday, April 11, 2009
ETF Rewind - Week 15 (04/09/09)
(Click Image to Enlarge/ Glossary)The holiday shortened week brought us a fifth period of gains, first cooling off overbought conditions only to then close higher on the unexpected positive pre-announcement from Wells Fargo (Reuters - Fargo Boosts). In fact, the S&P500 (SPY) posted a large gap higher Thursday to end the week up +1.8%.
Week Sixteen of 2009 features both the opening of the earnings floodgates, and key retail sales, manufacturing and housing reports, as follows:
- Yahoo! - U.S. Economic Calendar
- Yahoo! - U.S. Earnings Calendar
Over the longer-term horizon, the NASDAQ 100 (QQQQ), Emerging Markets (EEM), and several major Sector ETFs are now within striking distance of their 10-month moving averages, potentially confirming the apparent change in investment tone. Additionally, the VIX (implied options volatility) has now downshifted below 40. Note, however, in as much as we appear to be breaking out of the down-trend channel, how stretched the VIX has become. It will be interesting to see how the broader markets react as these leading indices respond to their first key level tests. Meanwhile -- Enjoy Your Holiday Weekend!
http://marketrewind.blogspot.com/
Lady
If you think education is expensive, try ignorance. - Derek Bok
Wow, the financials are up strong in this down market. Dow down 70. FAS up, FAZ down.
-- Tom | My Trades
This may not be the right thread for the post because this link has data for far more than just April. But I found this "ETF Lab" link on Traders Talk and it has a huge amount of ETF data that we should probably all absorb. And I've still got company so my time is short. I encourage everyone to check this one out.
http://www.traders-talk.com/mb2/inde...=post&id=10592
Lady
If you think education is expensive, try ignorance. - Derek Bok
As always Lady, thank you for the excellent link.
OBTW did you read the slope for hope? Excellent analisys on what type of market grops we have.
Candlestick crack addict...
FAZ is making some small gains today. That would make perfect sense now that I'm not holding it.
So if a dog bites your hand do you continue to pet the dog? I do
Anyways, Once again our defender of common sense, CNBC's Jeff Macky was swatting down those other pesky traders Monday. Once again those other traders were trying to prop & pawn off their holdings on Joe Public, while Jeff tells us the truth about Oil, Copper, Gold, & the financials.
FAZ Y U B like that?
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Last edited by JTH; 05-11-2009 at 09:50 PM.
Candlestick crack addict...