Buy The Dip?

It felt like just about everything in the market was pulling back today. Not all pullbacks will qualify as a 'Buy the dip" candidate, but some may be setting up as a nice opportunity. Lets take a look...


SPX -  This turned down at multiple resistance areas.

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This report will be a report on the statistics of what was reported on in the weekend report...

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In last weeks reports, I was pointing out the things that were moving and really catching my interest.  Lets review and see how things played out and what that can mean going forward.

SPX WKLY - We had a very high volume sell off & reversal this week.  The last 2 stand outs had 2 different immediate reactions.  Aug 2011 just went sideways for weeks, while Oct 2014 recovered strongly. 

SPX WKLY 8 28  

Which one is likely here, or is there another possibility? ...

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The Fat Pitch

I wanted to post tonight because the action today was excellent.  I think we may be getting  the FAT PITCH that traders wait for all year. Lets take a look...

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It’s Not A Straight line

We all know that the markets don't move in a straight line, and lately the volatility has made the path to successful investing a bit trickier. At times it is best to get a longer term view of where things are headed, so the wiggles or shake ups don't knock us off course. Lets look at some charts.

SPX - This summer I was looking for that drop in the markets.

SPX 7-26  crash coming

The question is , is it done?

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The Hardest Part

According to Tom Petty,  "The waiting is the hardest part".   I do believe he's right, but at times it is the safest thing to do.  For example, did you see the futures yesterday in the morning? The Dow was set to open up hundreds of points higher and in fact, most of the day the Dow was up 300+ points. We were putting in a very nice bounce and suddenly going into the close the Dow sold off and closed down 2o4 points.  The S&P and NASDAQ did the same thing.  Lets take a look.

DJIA - Both Monday and Tuesday if traders entered the markets during the rally, they were stopped out or seeing red by the close.  Today the Futures are up big again. 

DJIA 8-25 2

 The markets are very oversold.  I expect a bounce up to the major moving averages, but that may actually be a shorting opportunity. Now If you look at the Dow this way, you can see that several  more days like we just saw and you could make the case for the formation of a bear flag, wearing off oversold conditions.

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We were not long the markets over the weekend, but if you woke up Monday and you were?  The above picture is a perfect example of what that probably felt like. Dow futures were down hundreds of points and there was no escaping the bear claws.  We expected a drop, but I was very surprised at just how fast and  deep things unraveled.


There will be a bounce, notice on the left side of this chart that even in Bear market sell offs, there are bear market rallies.  Pretty big ones.  We want to watch how that unfolds, as mentioned in the weekend report.


How’s It Going?

For months I have been pointing out this Rising Bearish Wedge and then a possible topping process ?  Just a few of those charts posted are below.  March, June and then AUG 17,  2015

SPX WKLY 1 SPX WKLY 6-17SPX 8-18 lomgterm

We cant say that this topping process was exactly a surprise...

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One Little Victory

Another little victory for the precious Metals Sector. I like to enjoy them while I can, since I know how fast these markets can change. We actually saw Gold move higher after the release of the fed minutes yesterday, and that was a small victory.   A short term top may be close, so we'll discuss what that may mean. 

First , lets review these volatile markets.

SPX- The markets may finally be rolling over. 

SPX 8-19

We've been discussing this for weeks and I have mentioned that topping is a process, but notice these additional signs.

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Beat The Clock

Today at 2 P.M. Eastern time, we get the release of the Fed Minutes. Today could amount to a lot of  "Hurry up and do nothing!"  until then. Lets review and see where the markets currently stand.


SPX- yesterday I showed this break out, it looked bullish short term, but I noted that it looked weak internally

SOX 8-17

SPX - Price dropped back inside yesterday

SPX 8-18

How did the other markets fair?

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