DISQUS

Bull Mkt · 11 months ago

Love to see the negative sentiment- I'm staying long for now. The weekly charts in the indices show we are still oversold.

Zach Bass · 11 months ago

That may be, but the trend is still down and you can have oversold conditions in bear markets for weeks.

FishWife · 11 months ago

You keep saying 'negative divergence', whereas the chart clearly shows 'positive divergence'. What chart are you looking at?

Zach Bass · 11 months ago

I'm referring to the near-term charts. The 15, 30 and even to some extent the 60 minute charts. They are all showing negative divergences between the MACD and price. Also, we are extremely over bought in these time frames as well. This combination of indicators along with being stopped right at the downtrend line provide a high probability of a reversal. Also, as I write this, it appears that the market futures are lower. I expect that the market is not going to be happy with the initial holiday spending, nor the dismal prospects for this shortened holiday buying season.

Peter C · 11 months ago

Apple's black Friday sale was very disappointing. 5 to 10 percent off doesn't count as big discounts. Come on Apple! $11 off the Nano? Pitiful.

J. Miller · 11 months ago

Why isn't 896 a breakthrough of the upper resistance line of 890?

Bryan · 11 months ago

Looks like the downtrend line held. We'll see where the market closes.

The 840-850 level needs to hold or we go down just like the previous rally in the beginning of November. That would make people very sick. It will wear them out. I do think a return to the bottom will be heavily bought and would hold so quite a while.

GSlusher · 11 months ago

"First of all, let me explain where the term Black Friday comes from. The word black often has a negative connotation when referring to events, not so in this case, it’s all about profitability, which is traditionally noted in black ink on an accountant’s balance sheet, where losses are noted in red. So, when someone says, “we’re in the black,” they’re saying we’re profitable. "

Do you have any data that shows this, beyond the urban myth? Doesn't Wal-Mart, for example, report huge profits all year-round? Wouldn't any retailer that didn't make a profit until nearly the end of the year go out of business?

That's not where the term comes from. Do a little research, first. It came from Philadelphia and referred to the traffic problems, not profitability.

Zach Bass · 11 months ago

Thanks for the correction!

Bryan · 11 months ago

What a failure of the S&P 20 day average and breaking the Down Trend Line. WOW!!!

Zach Bass · 11 months ago

In my opinion, the next stop is 775, before we get to the recent lows. Then, it's 741 and beyond!

Bryan · 11 months ago

Were is the Down Trend line right now. Are we right at it again?

Zach Bass · 11 months ago

The Nasdaq is at 1500, but the preferred resistance would be the top of the gap at 1520. All other indexes are within their respective trends. Apple was particularly weak compared to the markets. It remained within its downtrend.

tomtom · 11 months ago

Zachhhhhhhhhhhhhhhh

you are a looser and Just like Martha the SEC's and Apple fans (Whic you are not ) got your #. You are history.