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December

 

 

12/29/06......Daily Snapshot Note

                   We're short-term oversold heading into the New Year

 

12/28/06......Daily Snapshot Note

                   Overbought in an uptrend calls for choppy conditions ahead

 

12/27/06......Daily Snapshot Note

                   Our short-term model is the most stretched since 2004

 

12/26/06......Daily Snapshot Note

                   Holiday trading should bring an overbought extreme this week

 

12/22/06......Daily Snapshot Note

                   For the first time since July, indices did not rally from oversold

 

12/21/06......Daily Snapshot Note

                   Another test of uptrend as NDX is oversold and on support

 

12/20/06......Daily Snapshot Note

                   Tight, listless trading likely to become the norm this week

 

12/19/06......Daily Snapshot Note

                   A morning gap to support gives bulls a perfect short-term setup

 

12/18/06......Daily Snapshot Note

                   Typical post-expiration weakness triggers oversold signals

 

12/15/06......Daily Snapshot Note

                   Gaps up on an expiration day make for a good short-term fade

 

12/14/06......Daily Snapshot Note

                   A break to new highs should give us a rare "trend day"

 

12/13/06......Daily Snapshot Note

                   Short-term range leaves a muddled mess with no clear edge

 

12/12/06......Daily Snapshot Note

                   Watch for volatile, non-directional moves after Fed decision

 

12/11/06......Daily Snapshot Note

                   S&P forming an intraday coil within a weekly range

 

12/08/06......Daily Snapshot Note

                   Watching for increased volatility with extreme model readings

 

12/07/06......Daily Snapshot Note

                   History of key reversal days suggests short-term downside

 

12/06/06......Daily Snapshot Note

                   Our indicators are correcting without a change in price

 

12/05/06......Daily Snapshot Note

                   Still dubious about the long side after yesterday's model extreme

 

12/04/06......Daily Snapshot Note

                   STEM.MR model once again cycles into overbought territory

 

12/01/06......Daily Snapshot Note

                   Peak in momentum, but buyers still coming after oversold dips

 

 

November

 

 

11/30/06......Daily Snapshot Note

                   Our short-term guides have reached a momentum extreme

 

11/29/06......Daily Snapshot Note

                   Corporate insiders sales have been swamping purchases

 

11/28/06......Daily Snapshot Note

                   No confirmation yet that this pullback is going to be different

 

11/27/06......Daily Snapshot Note

                   Today's trading triggered several outstanding readings

 

11/21/06......Daily Snapshot Note

                   Small range typically means trouble after holiday

 

11/20/06......Daily Snapshot Note

                   Looking for more choppy action with volume starting to drop

 

11/17/06......Daily Snapshot Note

                   Commitments of Traders data becomes even more negative

 

11/16/06......Daily Snapshot Note

                   Short- and intermediate-term extremes suggest dubious gains

 

11/15/06......Daily Snapshot Note

                   Short-term model extremes suggest chop ahead

 

11/14/06......Daily Snapshot Note

                   Short-term oversold leads to yet another new high

 

11/13/06......Daily Snapshot Note

                   Expected weakness not to be, indices now forming bull flags

 

11/10/06......Daily Snapshot Note

                   Reversal pattern and peak in momentum in the NDX

 

11/09/06......Daily Snapshot Note

                   Cautious of a failed breakout due to signs of fading momentum

 

11/08/06......Daily Snapshot Note

                   Down Pressure in the NDX has reached an overbought extreme

 

11/07/06......Daily Snapshot Note

                   Peak in momentum means short-term rallies should falter

 

11/06/06......Daily Snapshot Note

                   The indices showed classic trend-day behavior from the open

 

11/03/06......Daily Snapshot Note

                   1700 NDX still a battleground; Big commercial short in futures

 

11/02/06......Daily Snapshot Note

                   Given several factors, 1700 on the NDX should hold for now

 

11/01/06......Daily Snapshot Note

                   Naz becoming short-term oversold - good test of uptrend

 

 

October

 

 

10/31/06......Daily Snapshot Note

                   We're oversold...in an uptrend...with hyper-positive seasonality

 

10/30/06......Daily Snapshot Note

                   Positive seasonals and oversold STEM.MR suggest back off shorts

 

10/28/06......Long-Term Comment

                   Large speculators have pushed their short bets against the Yen

                   and Precious Metals to an extreme

 

10/27/06......Daily Snapshot Note

                   The failed breakout of RUT and NDX signal potential trouble

 

10/26/06......Daily Snapshot Note

                   Watching for a failed breakout as short-term guides hit extremes

 

10/25/06......Daily Snapshot Note

                   Should see a tight range prior to Fed, then 2-3 whipsaws

 

10/24/06......Daily Snapshot Note

                   Expecting a tight range ahead of tomorrow's Fed meeting

 

10/23/06......Daily Snapshot Note

                   Tight range breakouts carry for a bit, but reversals are common

 

10/20/06......Daily Snapshot Note

                   Commercial traders in index futures; Tight 2-day S&P range

 

10/19/06......Daily Snapshot Note

                   Cumulative TICK remains stretched, but 1700 still strong on NDX

 

10/18/06......Daily Snapshot Note

                   Overbought New NH/NL ratio; Failed SMH breakout

 

10/17/06......Daily Snapshot Note

                   11 "up" closes in S&P futures; NYSE TRIN

 

10/16/06......Daily Snapshot Note

                   Trend days; Smart Money Confidence

 

10/13/06......Daily Snapshot Note

                   VIX under 11; Stock / Bond Ratio; STEM.MR Model overbought

 

10/12/06......Daily Snapshot Note

                   Short-term looks OK to chase breakout

 

10/11/06......Daily Snapshot Note

                   5-day range in the S&P is tightest in past decade; Jump in I.I.

 

10/10/06......Daily Snapshot Note

                   Measured moves; Tight range in S&P

 

10/09/06......Daily Snapshot Note

                   "Barbell" seasonality in October; Traders not buying into the rally

 

10/06/06......Daily Snapshot Note

                   Commercial traders in index futures; AMG fund flows

 

10/05/06......Daily Snapshot Note

                   Historic extreme in STEM.MR model; Oct. return after up Sept.

 

10/04/06......Daily Snapshot Note

                   Overbought extreme in STEM.MR model; Skewed put/call ratio

 

10/03/06......Daily Snapshot Note

                   Unusually divided opinion among traders

 

10/02/06......Daily Snapshot Note

                   "Air pocket" hits after unusual price action

 

10/01/06......Long-Term Comment

                   Traders have been betting heavily against small-cap stocks, and

                   it has reached a point where we should see a rally there

 

 

September

 

 

09/29/06......Daily Snapshot Note

                   3-day range in the S&P; Waning momentum in semiconductors

 

09/28/06......Daily Snapshot Note

                   Big jump in AAII bullishness, but still little reason to try to short

 

09/27/06......Daily Snapshot Note

                   Overbought STEM.MR model; SPX/NDX divergence

 

09/26/06......Daily Snapshot Note

                   Forced action gives impression of prices pulled up by a string

 

09/25/06......Daily Snapshot Note

                   Small spec position bullish for market, should see buying interest

 

09/22/06......Daily Snapshot Note

 

 

09/21/06......Daily Snapshot Note

 

 

09/20/06......Daily Snapshot Note

 

 

09/19/06......Daily Snapshot Note

 

 

09/18/06......Daily Snapshot Note

 

 

09/15/06......Daily Snapshot Note

 

 

09/14/06......Daily Snapshot Note

 

 

09/13/06......Daily Snapshot Note

 

 

09/12/06......Daily Snapshot Note

 

 

09/11/06......Daily Snapshot Note

 

 

09/08/06......Daily Snapshot Note

 

 

09/07/06......Daily Snapshot Note

 

 

09/06/06......Daily Snapshot Note

 

 

09/05/06......Daily Snapshot Note

 

 

09/02/06......Long-Term Comment

                   A review of our indicators concludes that the short-term looks

                   dicey, but the intermediate-term should still be OK

 

09/01/06......Daily Snapshot Note

 

August

 

 

08/31/06......Daily Snapshot Note

 

 

08/30/06......Daily Snapshot Note

 

 

08/29/06......Daily Snapshot Note

 

 

08/28/06......Daily Snapshot Note

 

 

08/25/06......Daily Snapshot Note

 

 

08/24/06......Daily Snapshot Note

 

 

08/23/06......Daily Snapshot Note

 

 

08/22/06......Daily Snapshot Note

 

 

08/21/06......Daily Snapshot Note

 

 

08/18/06......Daily Snapshot Note

 

 

08/17/06......Daily Snapshot Note

 

 

08/16/06......Daily Snapshot Note

 

 

08/15/06......Daily Snapshot Note

 

 

08/14/06......Daily Snapshot Note

 

 

08/08/06......Daily Snapshot Note

 

 

08/07/06......Daily Snapshot Note

 

 

08/04/06......Daily Snapshot Note

 

 

08/03/06......Daily Snapshot Note

 

 

08/02/06......Long-Term Comment

                   Our Liquidity Premium is drying up, showing a lack of broad-

                   market concern short-term, but the intermediate-term looks OK

 

08/02/06......Daily Snapshot Note

 

 

08/01/06......Daily Snapshot Note

 

July

 

 

07/31/06......Daily Snapshot Note

 

 

07/28/06......Daily Snapshot Note

 

 

07/27/06......Daily Snapshot Note

 

 

07/26/06......Daily Snapshot Note

 

 

07/25/06......Daily Snapshot Note

 

 

07/24/06......Daily Snapshot Note

 

 

07/21/06......Daily Snapshot Note

 

 

07/20/06......Daily Snapshot Note

 

 

07/19/06......Daily Snapshot Note

 

 

07/18/06......Daily Snapshot Note

 

 

07/17/06......Daily Snapshot Note

 

 

07/16/06......Long-Term Comment

                   The 1994 template is on track in terms of technicals; a move to

                   new lows in the Naz Composite might actually be a good thing

 

07/14/06......Daily Snapshot Note

 

 

07/13/06......Daily Snapshot Note

 

 

07/12/06......Daily Snapshot Note

 

 

07/11/06......Long-Term Comment

                   We have seen a rare TICK cluster which typically lead to a rising

                   market, but today's low will be an important pivot if violated

 

07/11/06......Daily Snapshot Note

 

 

07/10/06......Daily Snapshot Note

 

 

07/07/06......Daily Snapshot Note

 

 

07/06/06......Daily Snapshot Note

 

 

07/05/06......Daily Snapshot Note

 

 

07/03/06......Daily Snapshot Note

 

 

June

 

 

06/30/06......Daily Snapshot Note

 

 

06/29/06......Long-Term Comment

                   Two 10-to-1 up volume days in the past two weeks, after seeing

                   an oversold market, has been universally bullish historically

 

06/29/06......Daily Snapshot Note

 

 

06/28/06......Daily Snapshot Note

 

 

06/27/06......Daily Snapshot Note

 

 

06/26/06......Daily Snapshot Note

 

 

06/23/06......Daily Snapshot Note

 

 

06/22/06......Daily Snapshot Note

 

 

06/21/06......Daily Snapshot Note

 

 

06/20/06......Daily Snapshot Note

 

 

06/19/06......Daily Snapshot Note

 

 

06/16/06......Daily Snapshot Note

 

 

06/15/06......Daily Snapshot Note

 

 

06/14/06......Daily Snapshot Note

 

 

06/13/06......Long-Term Comment

                   Rydex traders have abandoned technology stocks; The number

                   of Fidelity Select funds beating cash has dropped to 0%

 

06/13/06......Daily Snapshot Note

 

 

06/12/06......Daily Snapshot Note

 

 

06/09/06......Daily Snapshot Note

 

 

06/08/06......Long-Term Comment

                   "Hammer bars" are not good predictors of a low; our Liquidity

                    Premium is at a point that has preceded lows within a few days

 

06/08/06......Daily Snapshot Note

 

 

06/07/06......Daily Snapshot Note

 

 

06/06/06......Daily Snapshot Note

 

 

06/05/06......Daily Snapshot Note

 

 

06/02/06......Daily Snapshot Note

 

 

06/01/06......Daily Snapshot Note

 

 

May

 

 

05/31/06......Daily Snapshot Note

 

 

05/30/06......Daily Snapshot Note

 

 

05/27/06......Long-Term Comment

                   Implied volatility has dropped by 25% with only a small price

                   move; Small specs are once again at their net longest

 

05/26/06......Daily Snapshot Note

 

 

05/25/06......Daily Snapshot Note

 

 

05/24/06......Daily Snapshot Note

 

 

05/23/06......Daily Snapshot Note

 

 

05/22/06......Daily Snapshot Note

 

 

05/20/06......Long-Term Comment

                   NDX momentum thrusts suggests a bounce, then retest of lows;

                   Small specs in index futures at their longest in over a year

 

05/19/06......Daily Snapshot Note

 

 

05/18/06......Daily Snapshot Note

 

 

05/17/06......Daily Snapshot Note

 

 

05/16/06......Long-Term Comment

                   New lows on the NYSE expanding to more than 5% of all issues

                   within a week of the DJIA at new highs has been bearish

 

05/16/06......Daily Snapshot Note

 

 

05/15/06......Daily Snapshot Note

 

 

05/12/06......Daily Snapshot Note

 

 

05/11/06......Long-Term Comment

                   A broad indicator review shows few changes, as the risk of an

                   intermediate-term decline has not dissipated much

 

05/11/06......Daily Snapshot Note

 

 

05/10/06......Daily Snapshot Note

 

 

05/09/06......Daily Snapshot Note

 

 

05/08/06......Daily Snapshot Note

 

 

05/05/06......Daily Snapshot Note

 

 

05/04/06......Daily Snapshot Note

 

 

05/03/06......Daily Snapshot Note

 

 

05/02/06......Daily Snapshot Note

 

 

05/01/06......Daily Snapshot Note

 

 

April

 

 

04/29/06......Long-Term Comment

                   Mutual fund inflows are extreme, and money markets have

                   suffered for it; A look at how various indexes perform after

                   the Fed stops raising rates

 

04/28/06......Daily Snapshot Note

 

 

04/27/06......Daily Snapshot Note

 

 

04/26/06......Daily Snapshot Note

 

 

04/25/06......Daily Snapshot Note

 

 

04/24/06......Daily Snapshot Note

 

 

04/21/06......Daily Snapshot Note

 

 

04/20/06......Long-Term Comment

                   Volume in penny stocks has exploded higher

 

04/20/06......Daily Snapshot Note

 

 

04/19/06......Daily Snapshot Note

 

 

04/18/06......Long-Term Comment

                   Extreme breadth flip-flops and across-the-board large up days

                   have often lead to future weakness when close to new highs

 

04/18/06......Daily Snapshot Note

 

 

04/17/06......Daily Snapshot Note

 

 

04/13/06......Daily Snapshot Note

 

 

04/12/06......Daily Snapshot Note

 

 

04/11/06......Long-Term Comment

                   A broad review of our indicators shows likely short-term

                   stabilization ahead

 

04/11/06......Daily Snapshot Note

 

 

04/10/06......Daily Snapshot Note

 

 

04/07/06......Daily Snapshot Note

 

 

04/06/06......Daily Snapshot Note

 

 

04/05/06......Daily Snapshot Note

 

 

04/04/06......Long-Term Comment

                   Extremely tight ranges in the S&P 500 have most often lead to

         &nb