What I’ve attempted to do here is put together the easiest, yet most robust macro tool that I could fathom, that each of you can use in the future if for some reason(s) our working relationship end. In its simplest…...
The chart below plots the ratio of Arca Gold Miners Index vs. the SPX. From 2001 to August 2011, the ratio rose to 1.60 from ~0.15. This means gold miners as a group out-performed the SPX by a factor of…
I wanted to officially catalog this comparison on the site instead of just communicating about it via email and also provide some granular detail on where the market may decline to. As you all know, it seems like the parallel…...
The chart below plots the SPX along with the ratio of NYSE advancing issues vs. total issues. As you can see in region (A), the ratio has put in a succession of lower highs and lower lows over the past…
Incredibly (i.e., in the context of the perma-doom and gloom that exists), the Dow has been up 11 of the past 12 months as of September’s close. This has now happened 26x through history dating back to 1896. What typically…...
We’ve been bearish on this name since slightly before the iphone 5 announcement and have been far more favorably disposed to GOOG as posts here, here and here suggest. With today’s decline we view the technical set-up in the stock…
Are we going to get our 1,540-1590 SPX target by YE? Charts below are updated with price action as of 10:30 AM EST and assumes DJIA 13,660. Remember, these analog charts are of the DJIA and we’re extrapolating the conclusions…...
The chart below plots the ratio of the KBW Regional Bank Index vs. the XLF. As it rises, regional banks out-perform; as it falls the XLF out-performs. The ratio is breaking below trend-line support and a multi-year consolidation pattern. That…
The chart below plots the post peak price bubble analog we’ve highlighted numerous times before with prices updated through today. The black line is the S&P Homebuilders Index. Our ongoing thesis has been that it will ultimately reach ~50% of…...
We recently had a post on INTC and noted it sat at quarter-century support. We also noted that relative to the XLK tech ETF, it was as cheap as it’s ever been. In that post we asked the following if…