The markets took a rest on the way up to oversold on the Zweig. Today’s gap open should correct that. Zweig needs a 2:1 on the NYSE a/d line today.
Featured Breadth Chart of the Day: It is looking more and more that I have this wrong sided, expecting a journey lower. I wanted < 40 before > 61.25. It is reaching up for that higher number now and going into overbought territory. It needs a 2:1 A/D line today to reach rarefied status. […]
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Foreign-exchange dealers say they have the solution to the high-frequency trades eroding banks’ profits across financial markets.
SPY in between opposing emerging harmonic patterns, potential bounce to 186.85 for ideal min retracement target for small Bullish Bat, refer to previous @mrtopstep post for Day chart levels at . If price exceeds 185.70 to the downside, the large brown triangle point will shift to 188.17, not changing the dynamics of that pattern. […]
Ackman and Buffett will both be on CNBC. Other than earnings not much else is on the calendar for this week, but next week will be extremely busy on the “macro” front.
Low rates continue to push money into stocks despite being near record highs. S&P 1900 is once again in sight.
A look ahead with the bonds featuring Jack Broz
As featured in Seasonal Sector Trades: 2014 Q2 Strategies (available soon), there exists an inverse relationship between bond yield and price.
The big story over the last twenty four hours in the oil complex has been the strong widening of the Brent/WTI spread.
**Note ** Use these longer timeframe charts throughout the week, intraday charts will be posted daily. These charts are also setups for swing entries.