Hello All, In the grad call given on 5-28-08, we discussed several factors that I use to determine market direction.  We looked at the following… 1.     Weekly chart of the S&P 500 ($SPX) with the 40 and 80 week moving averages 2.     $VIX – Volatility index      3.     $CPC – Put call ratio With the VIX and CPC, we set up the chart so that we could plot how their relationship with the market. Below is the chart setup. Remember…you don’t need a membership to access these charts and set them […]
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ALCOHOL STOCKS ARE DOING OKAY
May 17, 2008 in Fundamental Analysis, General Information
People may be drinking more these days. Or at least they’re buying stocks tied to drinking. Two of the top recent performers in the consumer staple category are Anheuser Busch (BUD) and Brown-Forman (BF/B). BUD is nearing a test of two previous peaks formed around 54. And it’s rising on strong volume. Brown-Forman is also showing rising price action and better relative strength. As we look at the chart on Bud that take a look at the chart, and what caused the big jump today. Deutsche Bank raises their price […]
USD/CHF Range Bound Before Next Leg of Bullish Rally
May 15, 2008 in General Information
US data surprised in its stability this week. Retail Sales came in line and while a slightly lower CPI did not discourage 90.6% of traders pricing no change in US interest rates into Fed Funds futures contracts. Remaining dollar data comes from less vulnerable areas of the economy and is not likely to spark significant re-pricing of expectations. Levels to Watch: Range Top – 74.00 (50% Fib.)                               Range Bottom – 71.50 Event Risk for the United States and Switzerland US – The remaining items on this week’s calendar are […]
To Fill or Not To Fill(The Gap)…That is the Question.
May 10, 2008 in General Information, Technical Analysis
The big question this week: Will the SPY and the Major Indexes close their gaps, or do they stop here? On January 4th., the markets gapped down at the open. The gaps have yet to be closed. The SPY closed at 138.90 on Friday, just 3.72% away from closing its 144.07 gap. But, at the same time, the SPY tested its October/May resistance line on May 2nd and May 6th. The SPY was unable to penetrate the resistance both times. The SPY has moved lower since its May 6th […]