Month: December 2011

Once again, when the market looked its worse, the market gapped higher making it difficult to take full advantage of the range without accepting the unknown risk of holding overnight in a weak environment.  Now the markets have made an intermediate term higher high,it would … Read More

Markets lost key levels which were noted in an earlier post and the pattern of lower highs and lowers continues to be clearly marked out on the charts. The video below takes a look at key levels of support and resistance for $SPY $QQQ $XLF … Read More

As a level of support is repeatedly tested, the buyers who were defending that level eventually get worn out as the supply overwhelms demand. When support fails, a new leg lower begins. In a downtrend, this action is to generally be expected, it is part … Read More

This morning’s gap higher has generally been sold into and the pattern of lower highs and lower lows has not been interrupted for any of these markets, the best case you could make is that they have begun a stabilization process. If the markets are … Read More