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Yesterday’s herding buy behavior had all the earmarks of the masses  who’ve figured it out.  After all, the lows of September 2 and October 2 led to at least five consectutive up closes in each case. So yesterday’s buyers, having figured out the pattern, jumped on board.  But as we’ve noted before, when you get [...]

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How the market reacts at key resistance levels during this bounce will tell us a lot about the overall technical health of stocks here.

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Today’s 5 minute chart comparing the eMinis with spot trading in the euro tells the tale.

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Here are the short-term levels to watch for tomorrow’s eMini trading.

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Look what happened this morning to stock index futures traders who bought in the face of a dollar rally.  They’re getting killed!  Our analysis that a dollar rally (euro decline) will send stocks sharply lower is being proven out. Here’s the updated 5 minute euro spot/eMini comparison chart. click chart to enlarge

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The latest housing price data from Case Shiller is out. The data is through August 2009. Case Shiller uses a 3 month moving average, so the latest data points are an average of June/July/August.  I’m including a chart of the Case Shiller composite number denominated in gold in case anyone is tempted to take the [...]

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The expected downturn in U.S. stocks, the euro, gold and crude oil is underway. We’ve been tracking the bearish indications on these markets as they’ve occurred.  Gold had three bearish indications in the past seven trading days prior to today’s decline. Oil had one on Friday.

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The 5 minute chart comparing eMinis with spot Euro continues to be very informative.  Here’s the updated picture.

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