Desloges CFA is a professional investment consultant/ blogger/ trader
with over 25 years of experience working on the buy and sell-side.
have researched and invested in traditional and alternative asset classes and
worked at Pensions Funds, International Banks and Dealers. More...
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Insight Please remember to support my efforts by clicking on the ads on the blog but more importantly by contributing via PayPal clicking on the buttons on the front page... There is no Plan B, Only a B Plan... October 8
DJ Industrials: My Rising Wedge ?
On a Relative Basis compare to the SP500 Index, the DJ Industrials is testing the Support Trendline level that started back in March 2001!
SP500: High Beta - Low Beta ETFs: Risk On Behavior ? But the most interesting technical pattern here is that we tested on September 29 that Support Trendline that started back on October 15 2014. The battle ground for the SP500 Index is now between that Support Trendline and the old Trendline form the Broken Rising Wedge that becomes resistance.
TSX60 Behavior : A Buyback Index ?
I found a quite interesting trend for the TSX60 Composite Index in terms
of Behavior lately. In fact, what we can observe is that the Trend for
the Index is exactly the same Technical Pattern as the TSX Buyback
SPY Technicals: Resistance Zone Reached ? But the most interesting technical factors is that we tested back on October 5 that Major Resistance Trendline that started back on August 18. We are now getting into the Resistance zone for SPY ETF and only a Daily Close above will bring another Bull Impulse.
Emerging Markets: 50% Fibonacci Zone at Play ?
Also quite interesting is the behavior lately of the EEM and US Dollar Index (DXY). The EEM is underperforming when DXY is strong and vice versa... The Energy Sector (XLE): Bottoming Out ? But the most interesting Technical Factor is that we broke a Major Resistance Trendline on October 5 then at 64.27 that started back on May 5 2015. XLE ETF is in a Bottoming Out Phase indeed as Sentiment is picking up. Longest S&P 500 Rally of Year Puts Ceiling in Reach as VIX Drops The five-day surge that has restored almost $700 billion to U.S. equity prices is closing in on a level where previous rallies have faltered. Measures of stress in the stock and options market suggest to one strategist that the potential for success is greater this time.
SPY ETF Price Volume Trend: Stronger ? But most interesting factors to me is that at the same time we are testing the Resistance Trendline on PVTand the 20 DMA zone ( Day Moving Average ) on SPY now at 194.59. Buyback Shares Index: Underperforming SP500 ?
Let s look at the Relative Performance of PKW ETF to the SPY ETF ( Ratio of PowerShares BuyBack Achievers Portfolio over the Mighty SP500 ETF SPY SPDR ): PKW ETF Relative Performance peaked in April 2015 and is underperforming tremendously since then and reached level last seen in November 2014.
A Growing Risk of Recession The primary feature driving our current market return/risk classification is that market internals and credit spreads have clearly deteriorated, following an extended period of extremely overvalued, overbought, overbullish conditions. Essentially, this is equivalent to saying that investors have shifted toward risk aversion in an environment where valuations are rich and risk premiums are extremely thin. Two faces of October: Crash-prone but 'bear killer' October gets a bad rap on Wall Street. Blame it on stock market crashes in 1929, 1987 and 2008 that all happened to strike in October. But despite being known as a "jinx month," October is also known as a "bear killer" — or the time of the year when weak stock markets stop going down, according to The Stock Trader's Almanac. Why Apple's Artificial Intelligence Acquisition Is Much Bigger Than Siri Apple believes this is the future of interaction with the objects we take for granted today, not just consumer items such as smartphones, tablets, TVs. The entire environment around us is up for grabs. The vision of talking to your computer like in Star Trek and it fully understanding and executing those commands are about to become reality in the next 5 years, not just explicitly but ambiently. October 1
Russell 2000 vs SP500: At the Support Trendline ? We are now back to the Critical Support Trendline on that Downward channel that started back on May 4 2015: breaking that support will bring a lot more underperformance from the Russell 2k vs the Mighty SP500.