Waves? Or Tide?
Was it Just Some Big Waves? It has certainly been an interesting week. After staying in a tight trading range since the end of March, SPY broke out downwards, quite decisively, on Tuesday, followed by another down day on Wednesday. Things were looking a bit grim, but then on Thursday it reversed, with the next […]
Sleeping Bull?
Is It A Sleeping Bull? If we compare the SPY chart now and what was happening in February, we can’t help but be struck with the similarities. The market is in a consolidation phase (going sideways after a rise) at around the same price point and it has lasted almost the same time. Of course, […]
Dead Cat Bounce?
Is it a dead cat bounce? Quick answer: no. I’ve been seeing the current rally called a dead cat bounce but, while it is an amusing term, that’s not really what is going on here. A dead cat bounce occurs after a precipitous fall, the theory being that even a dead cat will bounce when […]
Is It A Bull Trap?
Caught in a bull trap? — and 2 day’s later update! — Oh, for the days when I was complaining that the market was boring! This one keeps throwing up surprises and not usually very nice ones. We got back into the market after the SPY golden cross and it looked as though the worst […]
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 […]