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The following 11 1-Year Daily charts show the 9 Major Sectors, plus Housing and Biotech.
You can see that Technology (XLK), Industrials (XLI), Materials (XLB), Energy (XLE), and Consumer Staples (XLP) have been the strongest performers, of late. The laggards have been Housing (XHB) and Biotech (IBB) (more…)
My love of classical music was born in a strange way: from a complete obsession with A Clockwork Orange as a teenager. (Hard to believe, but I used to dress up as Alex whenever I could; seriously). I just watched it again for probably the 40th time today. Below is a favorite scene. I could say I didn’t fantasize about hitting Yellen in the balls with my cane, throwing her into the Potomac, and slicing her hand open………but I must be honest with Slopers, so I won’t.
Today has been amazing so far. Our bullish friends got their 1900 on the S&P earlier this week, did a big circle jerk, all climaxed simultaneously, and then left the scene so they could tidy up. For myself, I have never been so bold in my positions: 128 shorts, deeply into margin territory, and my hirsute chest thrust out over the bow of the H.M.S. Ursine.
Watch the chart below. Watch it carefully. If it breaks the tint, all holy hell is going to break loose.
SPX held the SPX 1min rising channel for a while yesterday, but then it broke and we have been seeing a more substantial retracement. Could the Spring high now be in? Yes, but we’re really going to need to see some more evidence before assuming that, and that’s what I’ll be looking at today.
There’s not much to say on the NDX chart other than to reiterate that a failure at this week’s high would be an ideal right shoulder high on the very large H&S that has been forming there. I’ll therefore start with RUT where RUT is now back within the falling channel that broke up on Monday. That situation isn’t at panic stations yet and a low near yesterday’s close in the 1100 area would be an ideal right shoulder low on a possible IHS, and a low in the 1080-90 would make a possible second low on a possible larger double-bottom. Under there the bullish options get much thinner, but until then the bullish scenario is still in play. RUT 60min chart: (more…)
