FINANCIAL ICEBERG
Always consider hidden risks



Jean-Pierre Desloges CFA  is a professional  investment consultant/ blogger/ trader with over 25 years of experience working on the buy and sell-side.

​​I have researched and invested in traditional and alternative asset classes and worked at Pensions Funds, International Banks and Dealers.   
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Market Insight

November 27

SP500 and Emerging Markets ( IVV - EEM ): Emerging Near Breaking Resistance Trendline ?
EEM is quite near of breaking that resistance trendline at 42.54.

​Canadian and US Energy Sector and Cdn Dollar: Canadian Oil Assets at Discount ?
On a relative basis, the last time it was that cheap for the Canadian Oil Energy Sector was in January 2002.​​


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​​November 26

NYSE New Highs / New Lows and SP500: Divergence ?
But the most interesting fact is that the NYSE Index compare to the Mighty SP500 Index reached a level not seen since January 2002.

​SP500 Technology Bull% Index: Near Overbought ?
That % indicator on Technology Stocks is near again a level of 80% treshold on November 25

Technical Observation of the Day: Above the 20 DMA on Facebook - $FB
On November 25, Facebook Shares broke on the upside the 20 DMA then at $74.63

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​​​​​November 25

SP500 and the Yen: Follow the Yen My Dear ?
Follow the red support trendline at 117.20 for today.

Technical Observation of the Day: New High on Apple - AAPL

On November 24, a new high was observed on Apple at $118.77 - so a $831.39 pre-split price

Technical Observation of the Day: New High on Nasdaq 100 - QQQ

On November 24, a new high on QQQ at ​$104.73


November 24

SP500 Index Bull% Index: Still Bullish ?
But getting over the 200 DMA on that Indicator have been in the past a first warning sign of overbought conditions building up.

ETF s Volume Adv/Decl: Near Overbought Zone ​?

It is now getting near overbought territory...

The Semiconductor Sector (SMH): Near Testing the Resistance Trendline ?

The Semiconductor Sector ETF ( SMH ) is currently near testing the Major Resistance Trendline at 54.11

Technical Observation of the Day: Broke the 20 DMA on Linkedln - LNKD
On November 21, LNKD closed below the 20 DMA at $221.62


November 21

SP500 CBOE SKEW Index: SKEW Spiking ?

The option market is telling us to expect the market to an atypical return profile

The Energy Sector : Lowest Level Since April 2007 on a Relative Basis ?
And on a ratio basis ( Energy Sector ETF ( XLE ) over the Mighty​ SP500 Index ), the last time it did reach that level was in April 2007.

Technical Observation of the Day: Tested the 20 DMA on Microsoft - MSFT
On November 20, on MSFT, it did test the 20 DMA then at $47.96 and rebounded from that level


November 20

SP500 Financials and VIX: A Fear Premium Building Up ?

The market is telling us to expect a risk off wave ( Volatility Premium Building Up going Forward )

Internet Stocks (FDN ETF): My Broken Uptrend Channel ?

The Internet Index Fund broke the Uptrend Channel that started on October 20 at 61.76

Technical Observation of the Day: Broke the 20 DMA on Bank of America - BACOn November 19, Bank of America Shares broke on the downside the 20 DMA then ​at $17.10


November 19

The VIX/ Gold Correlation US Dollar and SP500: Higher Volatility Ahead ?
VIX/GOLD correlation getting near 0.75 on November 18 and VIX was under 14, indicating more volatility ahead...

The Material Sector (XLB): Outperforming SP500 ?
Interesting to note the outperformance began when the ratio hit a bottom level reached in July 2013.

Technical Observation of the Day: New High on Nasdaq 100 - QQQ

On November 18, a new high on QQQ at ​$103.82


November 18

SP500 : High Beta - Low Beta ETFs: Risk On Behavior ?
The level of risk taking according to that ratio is far from the zone reached at previous high at the beginning of July and then in mid-September 2014.

TSX60, Cdn Dollar and SP100: Canadian Assets at Discount ?

On a relative basis, the last time it was that cheap for the Canadian Stocks was in July 2005.​​

Technical Observation of the Day: Broke the 20 DMA on Google - GOOG
On November 17, Google Shares broke the 20 DMA then at 545.05.


November 17

Russell 2000 and DJ Industrial ratio: Russell at Crossroads ?

That ratio​​ ( Russell 2000 over DJ Industrial ) is testing a resistance trendline since October 28.

SP500 Utilities Sector: My Broken 21 DMA on XLU ?
Also, on November 14, XLU broke the 21 DMA ( Day Moving Average ) - a technical warning sign indeed.

Technical Observation of the Day: 200 DMA Tested on Amazon - $AMZN

On November 14, AMZN tested the 200 DMA then at $ 328.68


November 14

Stocks to Bonds Ratio : Still into the Critical Zone ?

The only time that this ratio and the 50 DMA was at that level was in December 2007.

SP500 (E-Mini) Volume Last Year and Now: Volume Down 11.5% ?

So the volume decreased with the SP500 futures making new highs; not showing a lot of conviction to me...

Technical Observation of the Day: Back Above the 50 DMA on Amazon - AMZNOn November 13, AMZN closed above the 50 DMA then at $ 314.99.





















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