November 2017

Strong rotation

We have signs of a strong rotation out of the FAANG stocks this morning and into the bluest of the blue chips, the Dow. This is killing the tech indexes (NDX is more than -100 points) while the Dow was up more than 100 points. Interestingly, the RUT rallied while the techs got hammered. This kind […]

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Quiet day

For what is supposed to be one of the more bullish weeks for the market I’m not impressed. There’s nothing from today’s price action that provides direction so we wait for tomorrow. I’m still thinking we’ll see more upside but maybe not until another pullback. Time will tell soon enough.

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Lower highs continue (so far)

Today is simply a repeat of the same pattern we’ve been seeing with this market and it’s getting old. It remains potentially bullish but looking weak. Watching our canary index, the RUT, I’m seeing more weakness than strength but it refuses to break down. Is that a sign of underlying bullishness […]

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Trendline resistance holding

With this morning’s small pop up at the open the indexes tagged overhead trend lines and then reversed back down. The techs have turned weaker than the blue chips and the RUT is dropping sharply. There is the possibility that a top was made this morning but as always we’ll need to […]

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