Bulls and Bears
Some Bulls, Some Bears Well, the last 2 days have been interesting – both positive green candles with small shadows showing conviction among traders. Notice how the 200 SMA is pulling away from the trend line and becoming horizontal, and that SPY is trading over the 10 SMA for the first time since mid-February. Positive […]
ITM Special Update: SPY and SPYG
ITM Update: SPY and SPYG Well, a very disappointing week, although not unexpected. Last week we saw that both SPY and SPYG, were in a consolidation phase, and we were watching for a range breakout. Well, we got a breakout – just not in the direction we would have liked. So what does that mean […]
Consolidation: a Sideways Market
A Nothing Burger? After going up steadily in January, February has been a bit of a disappointment. After making new highs on Feb 1st and 2nd, it has been trading sideways within the trading range of the intraday highs and lows of those dates. Irritating. It is a good example of price consolidation, which means […]
A New Bull Market?
Is it a new bull market? Well, the ITM signal got us back into the market on January 26th, and so far it has been right if not exactly spectacular. In the six trading days since then SPY has increased by around 2%, not quite enough to retire on, but going in the right direction. […]
Is It A Baby Bull?
The start of a new bull market? ITM Special Update We have had the signal – the 10/200 golden cross. It’s debatable whether there is enough whitespace between the SMAs (see the arrow) but there is definitely some. If you want to wait a day or so to make sure that it has really crossed […]
Is The Bear Dead?
Is The Bear Market Dead? Well, it is certainly not looking too healthy! It looks from the chart below that though we may get a golden cross this week. That is a ‘may’. We’ve been here before in August and November, and each time it turned out to be a bull trap and the down […]