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With Wednesday's session, the SPY posted a second consecutive higher close, but closed below the open (a black 'candle') on both sessions.
Although initially one might consider this market behaviour as a short-term bearish pattern, historical occurre
The RSI-High/Low(2) indicator seems to provide a good indication that buyers will not let the market go down without a fight (see my posting Modified RSI(2), Buying Power and Intermediate-Term Outlook ).
But today's recovery from a significant intrad
During the last couple of sessions almost all major US market indices showed a remarkable strength concerning their ability to not only recoup almost all of their intraday losses (like on last Friday's session), but to close above the open as well. F
Due to the fact that when bloggers/the bloggosphere/traders are discussing and talking about the 'overbought' ('oversold') state of the market (betting on a short-term mean-reversion tendency), they are regularly referring to and utilizing J. Welles
In full compliance to historical probabilites and odds, US major market closed lower on last Monday's session immediately following a session where the SPY had posted an intraday low at least -1.75% below the previous sessions close, but closed posit
US major market indices fully complied to historical probabilities and odds when the VIX had surged 20%+ on a single session in the past: The SPY (S&P 500 ETF) showed the expected intraday weakness (follow-through of Thursday's weakness), went up
Major markets sold off today, with the VIX (CBOE Volatility Index) up more than 20%. From a historical and statistical perspective, when the VIX surged 20% or more on a single session in the past, the market regularly turned around the then following