The Big Picture:
Courtesy of Ron Geiss of The Chart Store, here are 3 comparos that are worth looking at: 1973 sell off vs 2007, the 1974 rally 2009, and the 1982 bottom lows vs 2009.
1973 versus 2007-08
1974 Rally versus 2009
1982 Rally versus 2009
source: The Big Picture
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Ai note: I vote for Jesse
written by Jessé (Café Américain)
Do not get in front of this rally on the short side. It appears to be the end of month tape painting, but the primary short term trend is still up.
If we break key supports it may drop quickly.
This ‘could be’ an official reflation, supported by [...]
Swine flu is a tragic thing and no one knows what will be the outcome. I’m sorry for all the families.
But for traders this situation brings more uncertainty. Transportation sector is one of the most in danger (today -4,61%, the worst cescot in S&P500), the opposite stands for healthcare (today +1,08%). The chart below from Sentiment’s [...]
options expiration day is near, options favors short side in S&P500 index.
As we head into option expiration on Friday, it is interesting to observe what the implied “attraction” price for certain underlying securities is. For this particular example I have picked the (in) famous SPY. Calculating the put/call equilibrium, indicates that the local minimum for [...]
“The S&P 500 is currently trading 8.56% above its 50-day moving average, which is its most overbought reading since May 2001. As shown in the historical 50-day moving average spread chart of the S&P 500 below, these levels are rarely reached, and when they are, pullbacks or sideways trading usually ensues. “
Source: Beskope Investment Group
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