Ears on The Markets - Options & Stock Blog

Major Sell Signal Complete: Negative Divergence on Weekly MACD

Asher Pinto — Sun, 30 May 2010 17:24:45 +0000

This is an update to the situation on the weekly chart of the S&P-500 (SPX), which is our current 'Chart In Focus.' (See original posting)

Just over a month ago, it had looked like the negative divergence on MACD on the weekly chart of SPX, may have been on the verge of becoming defunct. After a stern decline over the intervening period, the strong sell signal has finally completed itself, and this fact does not bode well for the bulls over the intermediate- to major-term, as long as the index remains below its 20-week moving average (1133).

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Asher Pinto — Fri, 21 May 2010 21:56:00 +0000

Bears Beware: Gaps Filled

Asher Pinto — Wed, 19 May 2010 16:34:19 +0000

Here's an important development for short-term traders to take note of. The up-gaps that had been left at the open on Monday, May 10th, have been filled as of this morning (see accompanying chart of SPY, DIA, and QQQQ).

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Asher Pinto — Tue, 18 May 2010 16:52:21 +0000

Negative Divergence On Weekly MACD

Asher Pinto — Mon, 17 May 2010 16:04:05 +0000

This is an update to the situation on the weekly chart of the S&P-500, which is our current 'Chart In Focus.' The potential negative divergence on MACD, on the chart of SPX, was first highlighted around nine weeks ago. The sell signal had not completed itself at that point, but with the markets having sold off over the past couple of weeks, a completion is nigh.

Nasdaq-100 Opens Gap

Asher Pinto — Mon, 10 May 2010 20:58:15 +0000

The markets opened with big gains today, following a big news event over the weekend. The chart of the Nasdaq-100 shows a pretty big gap. It's somewhat rare for gaps of this size to be left unfilled for more than a few days (or at the most, weeks). Will this time be an exception? Or are traders who're looking to fade this gap going to win out in the end?

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Asher Pinto — Fri, 07 May 2010 16:11:17 +0000

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Asher Pinto — Fri, 07 May 2010 13:55:33 +0000

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Asher Pinto — Thu, 06 May 2010 22:37:13 +0000

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CNBC might be saying that the selling is over, but...

Asher Pinto — Wed, 05 May 2010 20:57:52 +0000

You know, I rarely watch CNBC. I mean, let's be honest, probably the only thing that group is good for is, perhaps for being the preeminent contrary indicator, if you will, when it comes to calling significant turns in the markets.

But for some reason, I decided to turn on the channel a few times today, for several minutes on each occasion, just to get a feel of what the sentiment was like in the, oh let's call it the "fundamentals" crowd... Almost on every occasion, I heard what can only be described as full on cheerleading for a bounce. Several times in the last hour or two, they repeated a seemingly nonsensical claim that went along the lines of "oh, look, the Dow has bounced 20/30/40 points, off its intraday lows (when the index was down 125 points, on top of yesterday's 225-pt drop) and, since every correction over the past several months has ended fairly quickly, this one must be over - given that the indices have been able to hold the day's lows - now."