Playing Spain’s IBEX – Where Can One Attempt to Catch This Falling Knife for a Short-Term Bounce?
There is some important support in Spain’s IBEX that comes into play ~13%-15% lower at ~5,300-5,400. This support is formed by line (2) in the chart below as well as 75% Fib retracement support and various swing lows from the…...
Though in the Coffee Biz, SBUX Finds itself in a Technical Pickle
Though the site is largely dedicated toward the macro, we do like to highlight individual stocks as well, so long as they have a compelling “story” and some type of interesting risk/reward set-up is in play. This brings us to…...
Repeating Pattern in the Arca Gold Miners Index at Hand
The Arca Gold Miners index appears to be completing a repeating pattern whereby the index tops out in a rounded reversal into a decent decline and then finds horizontal trend-line support. At such support the index has historically bounced materially…...
Where’s the SPX Currently Sit in Relation to History’s Average Secular Bear Market, ~145 Months after The Peak in 2000?
This chart has always been quite compelling given the close proximity to which the current secular bear market (black line) has tracked against the average secular bear market through history (red line). The values plotted are inflation-adjusted relative to prior…...
Current Conditions in AAII Sentiment Survey Have Been Fulfilled only Eight Other Times Since 1987
Always struggle to find much value in the AAII Sentiment Survey data and commentary. That said, the conditions in this week’s survey data have been fulfilled only eight other times in history. Here are the conditions being filtered upon –…...
Getting Granular – RSI on SPY 60 Min Chart Once Again Elevated
The RSI on the SPY 60 min chart is once again reaching quite elevated levels. Over the past year, even as the market was working on or within a sustained up-trend, it has paid to wait for better entry prices…...
Ratio of Copper vs. Gold Continues to Suggest a Major Move in Risk Assets on the Horizon
We posted this same analysis a few weeks ago and are updating it now given it has changed since then (break-out in ratio occurring). The only times the ratio of copper vs. gold has been lower than it has been…...
Since Credit “Leads”, What’s the Macro Message Coming From Riskier Areas of the Credit Universe?
If credit leads and equity confirms, the message riskier areas of the credit universe are currently sending is far different from the one they were sending through much of 2007 and early 2008 as they deteriorated significantly in front of equity…...
SPX Breaking Out? Going to Target New All-Time Highs?
Any repeating patterns this summer vs. last fall when the SPX broke out of a choppy consolidation zone following the August mini-crash? Also, any similarities between the rally off the 1987 crash lows and the rally off last August’s mini-crash…...
After Losing 2/3 of its Value, is There an Emerging Set-up in Cotton?
The chart below shows that the decline thus far off Cotton’s peak price in 2011 is among the worst for a former bubble. At this juncture (~+80 weeks after peak prices) only Silver’s decline off its 1980 top was worse. At the…...