Posts tagged ‘Bond Auction’
Sunday, August 2nd, 2009
The Market Continues To Add To The Breakout – Get Long – Be Cautious!

The market continues to surge higher. It has broken through resistance at SPY 96 and it did not even retest that level before it staged its next rally. Buyers drove prices higher yesterday after a decent initial jobless claims number. Bears had everything they could ask for on Wednesday (a 5% decline in Chinese stocks, [...]

Sunday, August 2nd, 2009
Yesterday’s Strong Reversal Paves The Way Higher – A New Relative High!

In the last five months, the market has staged a 45% rally. Over 11% of that rally has come in the last three weeks and the market is not showing any signs of weakness. If it were going to pull back, yesterday was the perfect opportunity. Durable goods orders were weaker than expected, the afternoon [...]

Sunday, July 12th, 2009
A Great Bond Auction Saved the Day! Don’t Be Fooled By The Good Jobless Claims Number.

Last week, the market dropped below major support when the Unemployment Report was much worse than expected. Job losses were 100,000 more than analysts had expected and bulls finally threw in the towel. Since March, they have denounced the Unemployment Report claiming that it is a lagging piece of information. Month-after-month, the news continued to [...]

Sunday, July 12th, 2009
A Great Bond Auction Saved the Day! Don’t Be Fooled By The Good Jobless Claims Number.

Last week, the market dropped below major support when the Unemployment Report was much worse than expected. Job losses were 100,000 more than analysts had expected and bulls finally threw in the towel. Since March, they have denounced the Unemployment Report claiming that it is a lagging piece of information. Month-after-month, the news continued to [...]

Sunday, July 12th, 2009
A Great Bond Auction Saved the Day! Don’t Be Fooled By The Good Jobless Claims Number.

Last week, the market dropped below major support when the Unemployment Report was much worse than expected. Job losses were 100,000 more than analysts had expected and bulls finally threw in the towel. Since March, they have denounced the Unemployment Report claiming that it is a lagging piece of information. Month-after-month, the news continued to [...]

Sunday, July 12th, 2009
Support Has Been Breached and Buyers Are Pulling Their Bids!

Yesterday, the market started off on a weak note and it never recovered. It convincingly broke below the neckline of the head and shoulders pattern. That also represents the 200-day moving average. From a technical standpoint, the market is very weak. After an initial rally this morning, the market quickly reversed and it is testing [...]

Sunday, July 12th, 2009
Support Has Been Breached and Buyers Are Pulling Their Bids!

Yesterday, the market started off on a weak note and it never recovered. It convincingly broke below the neckline of the head and shoulders pattern. That also represents the 200-day moving average. From a technical standpoint, the market is very weak. After an initial rally this morning, the market quickly reversed and it is testing [...]

Sunday, July 12th, 2009
Support Has Been Breached and Buyers Are Pulling Their Bids!

Yesterday, the market started off on a weak note and it never recovered. It convincingly broke below the neckline of the head and shoulders pattern. That also represents the 200-day moving average. From a technical standpoint, the market is very weak. After an initial rally this morning, the market quickly reversed and it is testing [...]

Sunday, July 12th, 2009
The Market Is Back Above Resistance – Expect Quiet Trading In the SPY 93 – 96 Range Next Week!

Last week, the market broke below major support at SPY 93. It had been in a tight trading range and it looked like we might finally have a long overdue decline. Nervousness set in before a record 4 billion bond auction and the FOMC. The Fed stated that they would abandon their quantitative easing in [...]