Market CommentaryMore Market Commentary
I don’t know about where you are, but the weather here in California has been freakishly cold. Most of us who live in the coastal climes are not used to freezing temps. But, hey, who are we to complain? There are folks across the US who far worse off. To those folks I say, hang in there. This too shall pass.
In the meantime, enjoy this market. It seems to be on a roll for presenting opportunity and today is no exception – it is a buying opportunity. Stock up before the holidays. Grab the di...Read More
March Swiss franc futures a buying opportunity on more price strength
See on the daily bar chart for the March Swiss franc futures that prices are in a four-week-old uptrend and have just hit a fresh contract high. The bulls have the solid near-term technical advantage. A move above chart resistance at Tuesday’s high of 1.1311 would become a buying opportunity in the “Swissy.” The upside price objective would be 1.1650, or above. Technical support, for which to place a protective sell stop j...Read More
Investors have liked the look of Men’s Wearhouse shares in 2013; the stock has outperformed the broader market handsomely, and shares are up nearly 63%.
MW stock is trading in a 52 week-range of $27.47-$52.72, having logged the high of the year on November 26, 3 days prior to Black Friday. The Houston-based men’s dress clothes retailer made headlines in June when it dismissed founder and Executive Chairman George Zimmer for undisclosed reasons. More recently, Men’s Wearhouse has been in t...
Just about everybody on Wall Street is in buy mode with anticipation of higher levels because of the Santa Rally. We may continue to grind higher for the next week or so-but buyer/bull beware, as things may not be as rosy as you think.
Our sentiment cycle triggered a bullish extreme on November 27 with an expected trend reversal date between 11/29/13-12/16/13. The 29 did mark the top and the S&P 500 dropped some 20 points. But the wave count is leaving the door open for the low we saw as a w...Read More
We are short-term traders. We make our money by correctly identifying inflection points where the index futures – especially the S&P 500 mini futures – are likely to stop moving in one direction and reverse.
But every once in a while we stop and take a longer-term look at the stock indices. And when we look at the rest of this year and the beginning of next, we see a confirmed bull market that we thing will continue going up.
Sure, there will be short-term corrections along the way, and we w...Read More
Featured StoriesMore Featured Stories
The head and shoulders top, coils, ascending triangles, descending triangles, wedges, and last but not least…scallops. There are a large number of patterns that the technical analyst uses to define particular setups in price action that he can act upon and trade with a favorable risk to reward.
Many are common, with varying names, some are more rare, and less known, such as the scallops, initially brought to my attention by Technical Analysis of Stock Trends by Edwards and Magee. The market h...
With the holiday season and year end approaching, the IPO market looks poised for one more flurry of deals before firms close their books on 2013. Among the twelve confirmed upcoming IPOs is one more headliner that is sure to generate plenty of interest.
Hilton Worldwide Holdings , the world’s largest hotel company with over 4,000 properties worldwide, is set to go public on December 13, offering 112.8 million shares within a range of $18-$21. Given the prominence of the IPO, it’s not surpr...Read More
Without a doubt wave labelling is one of the most important skills an Elliott Wave practitioner must learn and work on.
It is of my opinion that this is where a lot of students of the principle fail in understanding and gaining the real benefits of the principle, this requires in-depth knowledge of the patterns, rules and guidelines. A diagram of an idealized Elliott Wave Cycle should always be in clear view of the analyst and under that multiple degrees of the wave labelling the practitione...
A few colleagues and I were chatting after their return from a recent trader’s expo, and the topic of Futures versus Forex came up.
This seems to have been a hot topic from the event and the subject of numerous debates between the various traders in attendance. The forex traders argued in favor of their ability to trade day and night, without the time constraints futures traders' experience. Futures traders contested that their wide variety of trading opportunities, ranging from currencies, e...
Whenever we look at different places where to put our money, real estate has always come to our minds as traditional investors have made lots and lots of money in this market. It’s only in recent times that with a credit freeze, the brick market has suffered an important contraction.
Fortunately, the tide seems to be turning as we see some interesting growth in the chart of the PHLX Housing Sector Index .
NAHB HOLDS ABOVE 50
The first reason that makes us think this market is ready for us to ...Read More