Things were looking good for the bulls early in the session. The S&P had surpassed Monday’s high and looked like it was set to make a new all-time closing high. But then Alan Greenspan had some choice comments about the Chinese stock market. I’m not sure if his comments started the selling […]

Well the Fed finally took a break from the long string of interest rate hikes and the market reacted negatively. This pause by the Fed made me flash back to the January rally. I was on vacation and checked the market news after I saw a huge rally on a TV ticker. […]

Erik wrote:

Could you please take a look at MET for me and tell me what you think. This is a high volume slow mover but I think it could be ready for a big push upward. It looks to me like it’s been hovering around it’s 50 moving average building strength with steady volume. Does […]

Barrett wanted a chart of MDRX:

Forming a triple bottom with lower highs after each bottom…what do you think? I am kind of new at this technical analysis.

I do see that potential triple bottom. But I think that, similar to a double bottom, it won’t be confirmed until the stock trades (closes?) above mid-point(s). […]

My crystal ball worked pretty well with regards to what would happen once the NASDAQ hit 2,000. It reached that level mid-day, closing a gap from way back in January 15th of 2002 by 0.01 points (damn those technical traders!). It was a very weak attempt to break out above 2,000 and the […]