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Sell Rallies
David Goldring
Thursday, February 06, 2014

The major indices are trying to get some sort of rally going after a 6% eight session swoon that left us in a near term oversold condition. Indeed we remain oversold. Yesterday both the S&P 500 (1751.64) and Nasdaq (4011.55) briefly undercut previous lows before marching higher. In the process the number of new lows being made actually contracted, which is at least a positive divergence and does s...

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DAILY COMMENTARY FROM INSIDE THE SYSTEM

Daily Commentary
Sell Rallies
Published: Thursday, February 06, 2014

The major indices are trying to get some sort of rally going after a 6% eight session swoon that left us in a near term oversold condition. Indeed we remain oversold. Yesterday both the S&P 500 (1751.64) and Nasdaq (4011.55) briefly undercut previous lows before marching higher. In the process the number of new lows being made actually contracted, which is at least a positive divergence and does s ...
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Daily Commentary
Oversold
Published: Tuesday, February 04, 2014

The major indices saw heavy selling pressure yesterday, with the S&P 500 (1741.89) breaking pivotal support at the 1770 neckline and the Nasdaq (3996.96) coming to rest just above its 100 day moving average, a level it has not broken since 2012! A more meaningful correction has just begun. That said we are near term oversold and it is very important to distinguish between oversold bounces and long ...
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Daily Commentary
Oversold
Published: Tuesday, February 04, 2014

The major indices saw heavy selling pressure yesterday, with the S&P 500 (1741.89) breaking pivotal support at the 1770 neckline and the Nasdaq (3996.96) coming to rest just above its 100 day moving average, a level it has not broken since 2012! A more meaningful correction has just begun. That said we are near term oversold and it is very important to distinguish between oversold bounces and long ...
Click here to continue...

Daily Commentary
Earnings To Drive S&P 500 To 1400
Published: Monday, July 16, 2012

The S&P 500 (1356.78) was able to hold the 50 day moving average Friday for the 10th consecutive session, and in the process notched an impressive accumulation day. The near term pivotal resistance is found at the convergence of the 20 week moving average at 1359 and the recent weekly highs (3 of the last 4 have occurred between 1361 and 1363); so between 1359/1363. Traders should have been fadi ...
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Daily Commentary
Should I Stay or Should I Go
Published: Thursday, June 28, 2012

The S&P 500 (1323.50) rallied back to the initial break out point of the Inverse Head and Shoulders at 1335 yesterday. 1335 also coincides with the down sloping 10 week moving average on the weekly chart. We are finding support this morning at the 20 day average at 1321 as we await the Supreme Court decision on Obamacare. If we spike on any decision to strike it down, watch for resistance at yest ...
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Daily Commentary
Fade Further Strength Towards 50 DMA
Published: Wednesday, June 27, 2012

The major indices are rallying for the second consecutive trading session, having modestly undercut support off the 20 day moving averages. We are looking to unwind long side exposure as and if the S&P 500 (1330.47) moves towards its down sloping 50 day average at 1341, and on the Nasdaq (2876.32) this comes into play at 2900. All focus tomorrow will be on the EU Summit and the verdict on Obamaca ...
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