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Post by jack on Jul 27, 2010 11:04:54 GMT -5
look at acronyms page. its all there. cup & handle thx
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Post by Dualism on Jul 27, 2010 11:13:18 GMT -5
Today ZN (10year T-note) has penetrated its uptrend line that has been holding since late April, and has also breached below its 20 dema. The dema violation has given a RED ARROW tm sell signal, given a close below it today. IMO, 121.50 is going to act as a strong support for a few days. Uploaded with ImageShack.us
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Post by ukarlewitz on Jul 27, 2010 11:14:01 GMT -5
high of the day ticks here: +1150. as spy goes green. 200dma wants to hold.
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Post by ukarlewitz on Jul 27, 2010 11:18:33 GMT -5
I need a colored arrow too.
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Post by ukarlewitz on Jul 27, 2010 11:21:41 GMT -5
spy rallied back to vwap. second time today, first one was R and failed.
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Post by ukarlewitz on Jul 27, 2010 11:37:37 GMT -5
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Post by sp7015 on Jul 27, 2010 11:44:28 GMT -5
aapl is trading really well today.
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Post by ukarlewitz on Jul 27, 2010 11:45:45 GMT -5
Bespoke - After dropping down to the single digits for awhile, the percentage of stocks in the S&P 500 now trading above their 50-day moving averages is at 72%. Peak readings during short-term rallies are usually around 85%-90%, so there is still a little bit of room to run before this indicator gets overbought.
TLT - out of April channel for the second day. Sitting on the 50dma.
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Post by ask2lern on Jul 27, 2010 12:11:55 GMT -5
I still say Gold is a steal at these levels in my opinion......................here is the 2009 chart and the 2010 chart................pattern seems very similar IMO......................GLTA 2009 Chart Uploaded with ImageShack.us2010 Chart Uploaded with ImageShack.usLooks like Clem will be a Zimbabwe Trillionaire soon or see a nice bump in Karma......................
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Post by ukarlewitz on Jul 27, 2010 12:17:58 GMT -5
Carl - Here is an hourly bar chart which updates the daily chart I discussed a week ago.
The e-minis are continuing the swing up to the initial target of 1145-50. That zone is the confluence of the upper channel line (green dashed lines) and the midpoint of the second 96 point box of this uptrend. In the meantime I think the top of the first box at 1099 will act as support for the market.
I believe that the S&P 500 is in the early stages of a move upward that will carry it to 1300 and above over the next 8 months.
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Post by ukarlewitz on Jul 27, 2010 12:19:33 GMT -5
The Treasury sells $38B in two-year notes at 0.665% (.pdf), the lowest yield ever. Bid-to-cover ratio of 3.33, vs. a recent 3.1; indirect bidders take 32.8%, vs. a recent 35.9%. Treasurys traded lower across the board: the 30-year yield +0.06 to 4.08%; 10-year +0.05 to 3.05%; 5-year +0.06 to 1.79%; 2-year +0.05 to 0.64%.
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Post by Dualism on Jul 27, 2010 12:19:44 GMT -5
2-Yr Note Auction
Highlights
The two year $38.0 billion note auction went well. The bid to cover ratio at 3.33 was down from last month's 3.45 but still quite strong and well above the 3.10 average of the past year. Buyside demand was well off of last month's pace, however. The auction stopped at 0.665 percent with an 88.09 percent allocation at the high yield.
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Post by ask2lern on Jul 27, 2010 12:35:07 GMT -5
Neithe can I................I just keep telling myself it will go higher....LOL here is some additional insight from http://www.optionmonstr.com......................GLTA Newmont chart shows bearish patternJuly 27, 2010 Tue 11:21 AM CT Newmont Mining (NEM) is showing an active bearish price pattern ahead of its earnings report tomorrow before the market opens. At the same time, I also wanted to compare the stock with the price of gold so that we can understand how the price of the metal affects Newmont's value. The first graph below is an overlay of gold prices and Newmont stock in terms of percentage. We can see that gold, in yellow, and the share price do move together. Newmont chart shows bearish pattern July 27, 2010 Tue 11:21 AM CT Newmont Mining (NEM) is showing an active bearish price pattern ahead of its earnings report tomorrow before the market opens. At the same time, I also wanted to compare the stock with the price of gold so that we can understand how the price of the metal affects Newmont's value. The first graph below is an overlay of gold prices and Newmont stock in terms of percentage. We can see that gold, in yellow, and the share price do move together. Uploaded with ImageShack.usThe relationship isn't perfect, but it does illustrate that the stock price is sensitive to gold price. Given that gold mining and production is the principal business of the company, that relationship is easy to understand. The price of gold has been under pressure as concerns about the Eurozone's health began to fade at the end of June and traders stopped hedging away from the euro into other currencies or the perceived safety of the precious metal. Gold also tends to weaken at this time of year because of lower jewelry demand in Asian markets. Newmont shares have partly followed that recent move lower, but not to nearly the same degree as gold. Is the share price about to play catch-up? That is one possibility. The relationship is one we need to keep in clear view, and doing overlay graphs of this type can be very helpful. A company such as Alcoa (AA), for example, can be tracked in the same way against the spot price of aluminum. There will be times when the stock has a high premium or discount to the metal price, but eventually the two tend to converge. On a pure price basis, there is already a bearish pattern evident today in Newmont as shown by the chart below. Uploaded with ImageShack.usThe bearish "flag" formation, indicated by the yellow lines, became active today when price broke below the bottom of the pattern at $58. This was just below yesterday's closing price. The vertical blue line shows the pattern's potential downside target at the $52 area. It would take a move above $58 now to neutralize that pattern. (Chart data provided by Thomson Reuters) By: Bryan McCormick .......................GLTA
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Post by ukarlewitz on Jul 27, 2010 12:58:39 GMT -5
Breadth is taking a little break today. about 1.3:1 neg for both. This will relieve nymo.
Looks like the Jpy will in fact settle below 114. Tnx holding above yesterday's highs. Vix stuck around the 200dma. Spy flat.
Two hours til closing but nothing horrible going on. Its a pause, so far. Horizontal is bullish.
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Post by ukarlewitz on Jul 27, 2010 13:01:39 GMT -5
Junk bonds - chart.ly/5343npFurther to our discussion about yield holding up. Low inflation and good credit risk is reflected in price.
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Post by ukarlewitz on Jul 27, 2010 13:06:59 GMT -5
Aks - this set up presented itself in December as well. Note the indicators as well as the MAs. That was a 15% drop in about 2 days then (down 6% today). You can see possible buy triggers to watch - the MAs, CCI (at zero) and RSI (at 50). The 60' is better of course. Uploaded with ImageShack.us
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Post by ask2lern on Jul 27, 2010 13:15:14 GMT -5
I have not been watching much today because I have a lot going on....................at first glance of the SPY chart looks like they are trying to make this an educational day for chrarting...............I am referring to the 5min...........seems like a little of everything.................flags.wedges,head & shoulders reg and inverted etc.......LOL
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Post by ukarlewitz on Jul 27, 2010 13:20:56 GMT -5
+1300 tick. We're stuck on vwap.
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Post by ukarlewitz on Jul 27, 2010 13:24:40 GMT -5
I think the bears need to hire a new coach. Not much offense or defense. This thing is ripe for a retrace and the bears have their helmets on backwards.
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Post by Dualism on Jul 27, 2010 13:32:53 GMT -5
Well, I think today was proof positive that equities have been leading treasurys in the last couple of weeks.
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Post by ukarlewitz on Jul 27, 2010 13:39:11 GMT -5
I think the tight range on Spy is telling. Weakness is being bought (3 higher Ls on the 10'). We haven't even come close to yesterday's lows. This is, so far, a correction through time, not price. This is where shorting on being 'overbought' is so painful.
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Post by Dualism on Jul 27, 2010 13:50:58 GMT -5
The bears are resisting closing out bearish positions in the hope that the market will pull back because it is overbought. The bulls are ambivalent about adding to their winning longs for the fear that the market can wipe all the gains in a couple of days. They don't make it easy even when you act timely.
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Post by clearwaters on Jul 27, 2010 13:57:54 GMT -5
Anybody else's board basically not moving?
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Post by ukarlewitz on Jul 27, 2010 14:00:36 GMT -5
Murphy - LONG BOND TESTS SUPPORT... I wrote last week that the long Treasury bond probably needed to break initial chart support to signal a stock market bottom (since they trend in opposite directions). Although Treasuries have pulled back this week (as stocks have risen), no short-term sell signal has been given for Treasuries. Chart 1 shows the 20+year T-Bond (TLT) pulling back to initial support at 98.18 and its 50-day moving average. A close below both of those levels is needed to signal some profit-taking in the long bond. Chart 2 shows the 10-Year Treasury Note Yield (TNX) also still in a downtrend. A close above its July intra-day high at 31.24 is needed to reverse its three-month downtrend. Until that happens, the current stock rally will remain unsupported by Treasury bonds. - GOLD BREAKS SUPPORT... Gold prices are falling today as well. Chart 11 shows the Gold Trust Shares (GLD) falling below their late May low on heavy volume. That sets up an important test of its 200-day moving average. Gold stocks are also suffering. Chart 12 shows the Market Vectors Gold Miners ETF (GDX) falling below its 200-day line. A test of its May low near 46 appears likely.
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Post by jack on Jul 27, 2010 14:04:43 GMT -5
Anybody else's board basically not moving? I'd be watching the grass outside grow but with the heat here its dead and/or dormant
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Post by abdogman on Jul 27, 2010 14:05:19 GMT -5
Anybody else's board basically not moving? If u mean practically no volume in some things ......YES
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Post by Dualism on Jul 27, 2010 14:06:07 GMT -5
I guess Murphy has missed seeing the RED ARROWtm on the ZN chart. ;D
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Post by Dualism on Jul 27, 2010 14:15:39 GMT -5
Here is some bearish fodder: Robert Shiller, professor of economics at Yale University and co-developer of Standard and Poor's S&P/Case-Shiller home price indexes, told Reuters Insider he does not know where home prices may be headed, but believes the economy may be on a precarious path. "For me a double-dip is another recession before we've healed from this recession ... The probability of that kind of double-dip is more than 50 percent," Shiller said. "I actually expect it." www.cnbc.com/id/38429491
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Post by ukarlewitz on Jul 27, 2010 14:14:32 GMT -5
GS - I'm not Hammond but this formation projects to 162 which happens to be where the 200dma is. Uploaded with ImageShack.us
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Post by jack on Jul 27, 2010 14:18:57 GMT -5
Anybody else's board basically not moving? I've been studying the action today...correlating price with the signals: macd, macd-h, OBV, parabolic SAR, stochs, VIX the Euro... ...and I can honestly say I don't have a fricken clue.
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