The shortest-term stock indexes we follow in the standard service are the Hourly Trend Models for SPX and NASDAQ. Although they worked well for the first three years of this service, lately they have been nothing but contrary indicators and have added nothing to the evaluation of intermediate trends. This [Read more...]
SPX & NASDAQ Hourly Trends———–>New Longs
DAL Intermediate—————->New Long
GOOG Intermediate————–>New Long
The hardest part of trading my system is to have the discipline to trade it correctly. Simply following signals appearing on charts or in the trades table is all that it takes, but sometimes [Read more...]
The FB Daily Trend Model will reverse Short today if FB closes below $25.40. This has been one of our best trading models over the past 10 months that FB has been public, both in the short-term (Hourly) as well as the intermediate term (Daily).
In early trading on Thursday the SPX and Nasdaq Intermediate (Daily) Trend Models are in Short_Pending modes. The DOW is about 50 points above it’s reversal-Short threshold. I have always recommended choosing one of these models (or IWM which is already Short) and do whatever ever it says. Combining one [Read more...]
SPX & Nasdaq Hourly Trend Models——–>New Longs
The Daily Trend Models continue to be critical in identifying the intermediate trend of the U.S. stock market. Below are those indexes with trend line support. Today’s rally retraced about 50% of yesterday’s decline, which is a normal retracement [Read more...]
If today’s first hour rally has any legs it will likely flip the S&P, Nasdaq and Russell 2000 (IWM) Daily Trend Models back Long. These are the three models that are the last dominos to keep the intermediate term trend, “mixed.”
My strategy is to wait it out and if [Read more...]
As we get nearer the three-day weekend and absent some major news event, trading should begin to wind down. No where is the winding down of trading more evident than in the charts of the VXX and its inverse, XIV. Both are derivative of VIX, a measure of the S&P [Read more...]
***I will be leaving about two hours before the close today and if my eyes are up to it, I’ll be posting today’s Market Close Report a little later then usual.
The AAPL Hourly Trend Model continues to be an effective model for stepping back and gaining some perspective [Read more...]
As you can see in the above table, this morning’s early weakness has generated reversals_pending in the three hourly trend models, SPX, NASDAQ and VXX. To be confirmed signals, they have to exceed those thresholds at the bottom of any hour or at the close of trading. The pattern recently [Read more...]
Seems like old times.
Let’s start by reviewing the basics, the three major stock indexes. Below are the charts of the Daily Trend Models of the DJIA, SPX and NASDAQ. The last day of the month and first day of next month are typically bullish for these averages. Should this [Read more...]