We love to look at SPX option open interest to get a feel for where the markets might be headed into expiration next month. Historically we have been pretty spot on with our analysis. What makes this tools so powerful is its ability to show the “pressure points” of the markets. The areas where it ...…
It’s GDP Friday for the 2nd quarter of the US economy and I’m sure a lot of traders are on edge ahead of the release. The Commerce Department will release its estimate for second-quarter gross domestic product at 8:30 a.m. Eastern time. Economists expect growth to slow a bit to a 2.5% rate in the ...…
Again it feels good to be back and I wanted to first start by hitting all the major charts with some comments: here we go! OIL – It’s seen some modest albeit slow gains since the beginning of July. We are once again coming into the $80 range which seems to be holding strong as some massive ...…
I’m back!!!!! Vacation is officially over for my wife and I – we got back in late last night. We had a great time in the DR (Dominican Republic) and enjoyed the annual week off from everything else. Here’s just a glimse of what I did for most of the week – notice the view ...…
During our July trading, we did not close out ANY trades at a lose once again. Compared to the June portfolio, we had a total return that was MUCH higher comparatively at 5.92% vs. 1.96%. We are extremely happy that we had one of our best months following the flash crash and correction. The VIX ...…
It’s once again another wonderful options expiration Friday! For our July portfolio, we once again had no losing trades and make a killing while other sites were having a hard time surviving the flash crash and the events that followed. Sad for them, great for us. Okay so earnings season so far and this rally…what ...…
While the this week we are still in front of this bull, the advance decline ratio suggest there is a big swing in underlying momentum. Notice on the chart that ratio of new highs to new lows suggest stocks are overbought. Also the NYSE volume for declining stocks means that investors are more heavily selling ...…
We are not out of the storm just yet. According to RealtyTrac, more than 1 million American households are likely to lose their homes to foreclosure this year, as lenders work their way through a huge backlog of borrowers who have fallen behind on their loans. Already nearly 528,000 homes were taken over by lenders ...…
The RUT has some major technical resistance ahead of it and coming off the heals of this 6-7 day rally for the bulls. Notice how the convergence of the moving averages and fibonacci retracements.…
Intel Corp INTC delivered and posted better than expected earnings. As a result stock index futures are trading higher and ready to make this bullish rally go into the seventh straight day of gains. While yesterday INTC officially broke it’s downtrend line, the long upper tail was not convincing enough. Pre-market INTC is trading north ...…
It’s going to continue to happen all across the globe… Moody’s today downgraded Portugal’s government bond ratings by two notches to A1 from Aa2. The report among other things cited poor national finances and weak economic growth prospects. Again, countries and companies CANNOT expect to continue to borrow money at these extraordinary levels – it’s just not ...…
With all the earnings driving the markets this week and with some big names on deck that have the potential to move the tape dramatically, please make sure you are watching the major indexes for breaks of support/resistance. Nasdaq 100 (NDX) First support is at 1807.09. First resistance is now at 1836. For the Nasdaq ...…
Earnings season kicked off yesterday after the close. Upbeat reports from Alcoa and CSX are some of the more major headlines out there sending futures higher. Both Alcoa and CSX say volume and sales increased during the second quarter, a welcome sign during a period where most economic reports showed the economy was expanding but at ...…
That’s right I said it – short the 10-year treasury notes. They have been on a huge upswing of late and there will come a time when interest rates HAVE to rise to counter balance the debt structure of the US. It’s not going to happen overnight, but after nearly every single recession bond prices ...…
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