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Oh, man, traveling while trying to do this is gonna be tough-o-rama. Anyway, here’s a comment cleaner: the failure of the ES, breaking last week’s low. Of course, it’s fighting like hell now to undo this. I can say my 30 positions are almost all doing great, although I’m struggling to figure out if I should take profits on MTCH or not.
We wish Tim house-hunting success in North Carolina. Here’s hoping he finds what he’s looking for. NC is a beautiful state and I bet his family will enjoy time spent there. Where I live now is the forever home, but NC [and TN] used to be on my move-to list. Here are a few slippery slope charts for your perusal. See what you think; hopefully, you’ll find some trade ideas.
Note that on all charts, the dotted green and red horizontals are the top and bottom of the Ichimoku Cloud; the Cloud changes with the wind.
In no particular order, let’s look first at TUP. I think Tim has been watching and shorting this for a long time. TUP topped in 2013. Earnings are May 4. (Note from Tim: yep! I’ve got puts!)
(more…)The bulls delivered a strong rally yesterday and there is actually a decent looking setup for a break up here that might well then deliver a fast retest of the all time highs on SPX. A daily RSI 5 buy signal fixed on NDX at the end of last week, which I wasn’t taking particularly seriously in the absence of a confirming signal on SPX, but at the close yesterday a daily RSI 5 buy signal also fixed on SPX. Both signals could deliver a sharp push up here through some key resistance levels.
On the SPX chart very strong resistance is in the 4500 area, with the SPX daily middle band currently at 4498.
(more…)If you want to see how meandering, directionless, and trendless this calendar year has been thus far, I present to you the percentage charts YTD of a variety of major indexes. Pretty sad stuff, folks!
Here in Palo Alto, the weather is very, very dull. You could named virtually any date in the future (“May 15, 2093“) and I could tell you with remarkable accuracy what the high temperature, low temperature, and precipitation would be on that day. Honestly. It could be hundreds of years out, and I’d be right.
