Happy New Year! Happy New Year to all our readers! Helen and I (and Asta, too!) are back from holiday. We had a great time spending Christmas Week and New Year's in northern New England. It is a wonderful place to enjoy the holiday season. Rally from Spring - No Sellers The market has not given up any ground since mid-December. Keep in mind that it was a Spring that ignited … [Read more...]
Happy Holidays!
The Holiday Season is here, and Helen and I (and Asta, too) will be taking a break going north for some skiing and snowshoeing. We would like to take a moment and thank everyone in our little community for all your support and encouragement over the past year. We wish you and yours a very memorable holiday season! We'll see you again in the New Year! … [Read more...]
Springs on the Anticpated Up Day
In last night's post (see that post here), I indicated a further rally was likely today. And, we did get that rally. Not a rip roaring rally, but it is the holiday period, after all. Many traders leave early for the holidays and so the volume and activity is typically low over the days leading into Christmas as well as the week between Christmas and New … [Read more...]
S&Ps for Tomorrow
Today in the S&Ps, we rallied up, fell down to nearby support, rallied again, and closed in the middle. It is not surprising to get a swinging day after a trend day up as we had on Tuesday. No supply showed itself on the intraday chart today. The Weis Wave - such a useful tool - shows that sellers just didn't come in. The structure indicates that odds favor a rally to … [Read more...]
S&Ps for Tomorrow
Two charts are highlighted tonight: the ES daily and 27,000 tick charts. I mentioned in last night's post that I expected a rally that would start off from a dip down to or below Friday's low. That dip came in the overnight market (green arrow) and the ES rallied up nicely into the US open. I did expect the market to rally higher, but just after the US open it became … [Read more...]
