When the Bubble Bursts

After reaching 400 in July, Biotech iShares sector ETF (IBB) has been exhibiting all the technical hallmarks of a major top. We have seen violent moves in both directions: during the August market swoon, IBB had an almost 30% drop to 284-285,

Posted in Featured

Bond Bulls Rejoice

Market Outlook In last week’s market outlook (“Stalemate“) I speculated about the potential danger of the market getting what it wanted from the Fed, namely no increase in interest rates. My view was that this could send a signal that

Posted in Just Rambling

Mind That Gap

  “Gaps Always Get Filled” Among the many trading proverbs, the above one about gaps is easily among the top ten in terms of how frequently it is (ab)used and how many attach significance to it. Before digging into it,

Posted in Featured

Stalemate

Market Outlook Last week basically ended in a stalemate. In the early part of the week, the bulls did their best to push the indices out of their consolidation patterns. After Tuesday’s broad rally, IBD declared that the market was

Posted in Just Rambling, Long Setups

Searching for the Bottom

           Market Outlook Last week gave us another sequence of big ups and downs typical of corrections or bear markets. The week started off with the S&P 500 getting rejected off the 1990-2000 resistance area and plunging nearly 100

Posted in Just Rambling, Long Setups, Short Setups

V-Shaped Recovery?

 Market Outlook Monday of last week had all the ingredients of a day that will permanently become part of the Wall Street lore, just like the 1987 Black Monday or the 2010 Flash Crash: we had a four-digit drop on

Posted in Just Rambling, Long Setups

Summer Surprise!

[A quick-and-dirty version of my weekend post as I am about to go away on a 3-day trip] One thing is for sure: a week like last one is a rare occurrence and it’s been even rarer in the last

Posted in Just Rambling

Are Bulls Getting Ready to Run?

Market Outlook Last week was another reminder that the ole “Summertime Trading” is basically extinct: we are officially in the dog days of summer yet the market price action was jam-packed with high volatility, wide trading ranges, and big volume

Posted in Just Rambling, Long Setups

And Then There Was One

Market Outlook The bulls continued to struggle mightily to retain any semblance of control over what seems like the growing tide of weakness. Despite losing AAPL to the bears, the S&P 500 actually had a decent rally attempt through the

Posted in Just Rambling, Long Setups

O Bulls, Where Art Thou?

Market Outlook The last week of July trading started off on a pretty bleak note. The selling continued on Monday and major indices became severely oversold. Not surprisingly, and just as the doom and gloom seemed to be at maximum

Posted in Just Rambling, Long Setups, Short Setups

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