The sterodic rally continued over the last week with most areas up over 2%. Few support levels even had the chance to be tested apart from IWM's 50 day simple moving average and it held strong. SPY quickly made its way above $130, a resistance level that I had expected to stand for a few weeks. One of the bests parts however was that volume was strongly behind the bulls.…
The march higher continued for the first part of last week and it looked as though the concerns that were raised in our last newsletter were unfounded. Then on Friday the market took a big hit that saw QQQQ down over 2.5% on the day and end flat for the week. This is a change from the typical action over the last 5 months but not all was bad, let take a closer look...…
It has been a while since we last saw declines as sudden and sharp as they were over the last week. But this is to be expected from a heavily overbought market and why we warned it was a dangerous time to initiate bullish positions. A rather interesting divergence between the small caps and the big caps occurred during the selling and could be an indication that the smart money is retreating to safety, lets take a closer look...…
In our last newsletter we spoke of an imminent breakout stating that "A close by QQQQ above $55 and IYT above $93 would be very bullish and likely mark the start of another leg to this rally." Both of these resistance levels were broken that Monday and the market has strongly rallied ever since. Lets take a closer look...…
It was yet another uneventful week that basically finished where it started. However periods of consolidation are nearly always followed by sudden breakouts and such a breakout now appears imminent.…
'Twas the week before Christmas, and somewhere in the market A lonely bear was stirring, eying his pessimistic target. While the bulls they were waiting by the ticker with care, In hopes that St. Nicholas would keep prices rising up there.…
It turned out to be a good week to take off as there was little movement in either direction which was rather what we expected as mentioned in our last newsletter - the market lacked the fuel for a major advance. I had a great time however rafting off a 23 foot waterfall in Rotorua, picnicking at a secret location in Taupo and relaxing in Kerosene Creek where the water is naturally about 110 degrees Fahrenheit. At ETF HQ we all hope that you are also enjoying the holiday season. Now lets take a closer look at this market...…
The market continued its advance over the last week and the best news is that much of it was backed by strong volume. Over the last month the advances have been nonstop and over the last 3+ months they have been huge. Now the question is whether we are due for some profit taking.…
It was an exceptional week for the market with massive advances made across the board. Our long positions were a lot of fun (our largest short in EWJ was not). Last week we said that if IWM and IYT can break through to new highs then there is still plenty of life left in this bull run. New highs are exactly what we saw and apart from a continued theme of light volume from some areas there is little bad that can be said.…
There have been some further signs of strength in the market over the last week; most notably SMH powering onto a fresh high while SPY declined. This is exceedingly positive as it shows that investors are not shying away from this more risky and economically sensitive industry despite all the uncertainty across the global landscape at present.…
