January 2018

Trying a high for the week

The market has continued to push higher and it’s looking like there will be effort to get a high close for the week. Whether or not we’ll see the market hold up into the end of the month (next Wednesday) remains to be seen. The little pop higher in the late afternoon has the Dow poking above the top of its rising wedge, which is near […]

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RUT’s up-channel

The RUT did in fact punch through its trend line along the highs from October-November, now near 1591, and made it up to the top of a parallel up-channel for its rally from December 14th. It then pulled back and is currently back below the trend line, which at the moment leaves a little throw-over and now a sell signal (but I think only a short-term one). […]

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RUT returns

Something lit a fire under the RUT today and it would seem buyers can’t get enough of the small caps. How quickly things can change and today’s rally suddenly has the RUT up near the top of its larger rising wedge, which is the trend line along the highs from October 4 – December 4, near 1590. It would obviously be bullish if the RUT can sustain a rally above that level but first we’ll find out soon whether or

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Double top or higher?

Not to be thwarted, he bulls continue to do their thing and the indexes gapped up again this morning. So far the indexes have only managed to test Tuesday’s highs, which is something I thought we might see if SPX is to make final high at 2759-2760 today (the high so far is 2758.84, 30 cents shy of Tuesday’s high). January 11th aligns with this level on the Gann Sof9 chart so it will be interesting to see if it will act […]

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