• 2 days China Slaps Alibaba With Record $2.75B Antitrust Fine
  • 3 days The Pandemic Has Culled The Middle Class
  • 5 days Legacy Automakers See Massive Spike In Sales
  • 6 days Tesla's Biggest Competitor Is Going Cobalt-Free
  • 6 days Stocks That Could Benefit From Biden’s $2.5 Trillion Infrastructure Plan
  • 8 days The Mafia Has Expanded Its Influencer Under COVID-19
  • 9 days How Fintech Will Get Skeptics Into Crypto
  • 10 days Monday Markets Rise On Stellar Jobs Report
  • 13 days Not Even Bribery Allegations Can Crush Cannabis Boom
  • 17 days Canada May Become Leader In Booming Battery Market
  • 19 days Nearly 42% Of All Amazon Reviews Are Fake
  • 20 days Kidnapping Is Big Business In Nigeria
  • 20 days COVID Fraud Amounts To Nearly $570M
  • 23 days Art Is Now An Algorithm
  • 24 days TikTok Threatens America, Tesla Threatens China
  • 24 days Small-Cap Energy Sectors With Big Upside
  • 28 days Coinbase Valued At $68 Billion Ahead Of IPO
  • 30 days 3 Stocks To Watch Amid AstraZeneca Covid Vaccine Snafu
  • 31 days Get Ready For First Tax Hike Since 1993
  • 34 days Tech Majors Bet Big On Clean Energy
How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

  1. Home
  2. Markets
  3. Other

Market Update

10/16/2014 6:15:58 AM

Good morning Traders,

Wednesday's trade saw some level of short term capitulation. I would have preferred an ugly end to the day instead of a reversal. So we still may need some retesting...

On a weekly sentiment view, we still have some work to do.

AAII % Bulls minus % Bears Chart

But we are close to a short term bottom at least. In line with our call for an expiration reversal.

NYSE Yearly New Lows

So far, this relationship between the SPY and QQQ has held true.

QQQ versus SPY Relative Strength

Our trading cycle suggests weakness into November.

35/105 Trading Days Cycle

But if our forecast inverts, we could see yet another leg higher.

2014 SPY Forecast Model

So we've been looking for a low around this expiration, then a bounce. We may play the bounce to the upside, cautiously. So stay tuned.

Regards,

 

Back to homepage

Leave a comment

Leave a comment