Author Archives: Tim Knight

Small Cap Breakout?

By -

The moment the market opened this morning, the small caps went roaring out of the gate for no particular reason. As I’m typing this, they’re easing back a little, but the chart is a bit worrisome for the one or two bears left on the planet, as the Russell 2000 seems to be vaulting past mildly important resistance. The bulls can only truly declare victory if they can push the market past the blue trendline I’ve pointed out.

0726-rut

The Yen Trend

By -

Besides crude oil, there actually is one other market which has been relatively steady, and that is the cross-rate USD/JPY. There was a time not long ago that US equities and the Yen were utterly joined at the hip. For instance, as I’m typing this, the USD/JPY is down 1.33%. In the before-time, that would have meant the ES would be down, oh, about 27 points or so right now. What is the ES doing? Oh, it’s unchanged. All the same, the Yen is still our friend:

0726-USD

(more…)

How Do You Like THEM Apples?

By -

Well, now that I’ve recovered from the 20 minutes of the DNC I watched tonight (including Earth’s Worst Rendition of “Bridge Over Troubled Water”), I thought I’d toss one last post into the hopper to end the day: Apple. They report after the close tomorrow, and I’ve got a big short position in them. My view is that Fibonacci is going to act as a wall (green tint). We shall see. G’nite.

0725-aapl