S+P 500 has dropped sharply on the OPEN of trading on 10/10/18. decisively breaking major support at 2870, with volume/conviction as large money liquidates and exits the market, blamed on the sharp rise in long term interest rates in October. Of Note: Any Close below S+P 2835, would break Intermediate Term 4 Hour Support, which would be extremely bearish and...
The Russell 2000, RUT has broken it's 200 day moving average at 1620, to the downside intra-day on the sharp market sell off on 10/10/18. It will be a crucial test to see if it can hold that important technical on the close. As I have written about previously, the RUT basket of 2000 small stocks have been out front in leadership for the last couple years, first...
Amazon, like it's FANG stock compatriots was recently trading at an all time historic high of 2029, just a few weeks back. Today, just a few weeks later AMZN it is trading below1800 and dropping... a decline of 9 % and growing by the moment. Every stock market time has its own bubble that manifest's itself into a crowd of believers. Amazon.com, and it's FANG...
Watch DJI 25240 very closely this week. The Dow 4 hour Chart shows clear Bull Trap potential in the making. Pattern set up is a Roof Pattern, meaning price broke out to the upside at Dow 26240, then rallied to its all time high of 26851, and has since declined back to 26301 low last week. A Close Below Dow 26240 this week would be an Important New...
Rising interest rates have resulted in a nearly 20% pullback in the popular institutional homebuilder's ETF ITB in 2018. Investors has rightly predicted that the rising interest cycle with the added cost of financing debt, and the aging US population would begin to slow demand for purchase of new single family homes in the United States. But a with every...
The Russell Small Cap 2000 Index has been leading the decline that hit the rest of the market this week. RUT which hit an all time high in late August, diverged from the rest of the market ,....and fell throughout the entire month of Sept. It's decline accelerated during the first week of October, as the decline reached the large cap stocks,and technology...
S=P 500 is in the midst of it's second straight day of sharply falling prices, with today's decline blindsiding those bulls.. who bought the dip.. and thought a meaningful bottom might have been put in yesterday. It was, ..but lasted less than 24 hours, as yesterday's lows at 2883 have been violated today, and a new sell signal given In the market, things are...
CME Group, CME, the worldwide leading derivative's exchange for futures and options trading, made another new all time high this week. Stocks that out-perform expectations, thru "better than expected earnings and forward guidance, are first tier stocks, and one's that you should consider for ownership. Monthly Chart on CME shows a continuation move, one...
I follow the VIX on a 2 Hour Open Chart, and use it to confirm moves in the S+P 500. Today 10/4/18, the VIX Volatility Index is up a staggering 30 % in less that one trading day! That is not a misprint... Simply put, the VIX is confirming the sharp decline in the S+P 500, as Index Put Premiums Sky Rocket, and a whiff of fear now enters the market in...
S+P 500 Intra-Day low thus far on 10/4 /18 has been at the 2890 level a 4 HOUR institutional big money Support Level However... if 2890 is broken later today, or tomorrow and If the 9/17/18 Actual Low of 2886.16 is violated to the downside, then SELL SHORT again, ...for a move down to 2870 MAJOR SUPPORT !! My own proprietary chart analysis. Not..trading...
NDX Chart suggests the recent move back above 7500 to 7700 is a potential 200 Point BLOW OFF TOP ! Watch for a Support Break of NDX 7500 for initial Confirmation. THE_UNWIND
S+P 500 IMPORTANT SUPPORT at 2919 has been VIOLATED on 10/4/18 Institutional Distribution of stock above S+P 2929 in the last week confirmed ! S+P 2919 has now in turn, become important RESISTANCE ! THE_UNWIND
Crude Oil Futures CLX have broken out above $75 a barrel resistance further increasing the possibility of a run to $86. Inflationary costs in the pipeline, will be borne by consumers+ businesses in late 2018-2019,in the form higher prices for gasoline for transportation, and for heating needs with natural gas +heating oil, especially in the Northeast. THE_UNWIND
10 Year Interest Rates TNX have broken out strongly to the upside, reaching a new 2018 high of 3.16%, a big money sold the 10 year maturities today. For a 10 year return, backed by the full faith of the US the return of over 3 % a year, relatively risk free, for the next 10 years, may prove to much to resist, for those investors not comfortable, with the high...
S+P 500 Resistance at 2929 has HELD for the 5th time. The significance of this,.. cannot be overstated. Big money is SELLING in large block liquidation, every time price rises above 2929, today they had 10 points above to work with, reaching a high of 2939.86 to distribute their shares. Ultimately, this pattern should play out, with a large move to the downside...
DUST, Direction's 3 X Gold Bear ETF is close to a Head and Shoulder's Breakdown,down 8% this afternoon. That would imply a pending breakout to the upside, in the precious metal, GOLD something that I have been writing about in the last week was a high probability. DUST is an institutional favorite and has large volume daily ETF volume and liquidity for the...
S+P Select Spider ETF XLF, a basket of the most important financial stocks, including money center banks have been dropping sharply in the last week. Somehow big money always seem to know and then exit ahead of material adverse news. It's really uncanny, and it's been that way since the 1920's, as they were early getting out then ahead of the great stock...
Dec'18' Gold Futures are up over $12 today, on a technical breakout above $1200.00 Renewed concern over Italian Bank Debt Contagion. Truth is, the financial debt problems in those banks never went away, rather just dropped of the radar screen for a few months. THE_UNWIND