A number of folks have sent me congratulatory emails about my “call” for the ES to reach 2600, since our highest price thus far was 2599.50 which, let’s face it, is pretty close. This clip comes immediately to mind:(more…)
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Commodities, led by oil, have been very strong since December 26th (just like equities). We are approaching the 50-day EMA, however, which could be an exhaustion point for this sector.(more…)
…..bears take warning. Indeed so.
It wasn’t that long ago I would be pretty jazzed about big red numbers to greet me at the start of the day. Ever since Mnuchin fired up the PPT machines, though, red numbers are meaningless. The equity markets simply get bid up through the day. Just look at the /ES chart below:(more…)
A couple of beautiful head and shoulders patterns from companies selling you cigarettes:(more…)
Just a reminder that next week we finally kick in to the heavy part of the earnings season. I’m looking forward to having a market moved by actual corporate results instead of whatever some Fed official is yammering about. And you can see this for yourself at any time on our quarterly reports page.