Written by Gary
Closing Market Commentary For 06-06-2014
Anther interesting session behind us. The $VIX dropped to the lowest point since 02-26-2007, the SP500 tipped the high mark at 1949.44 and the DOW melted up to 16924.28. What does this mean, I am not sure, but I am not buying long. In fact I increased my cash position as it is just not worth the agration of ‘hoping’ I might another 15%.
By 4 pm the bulls party music was loud an raunchy and the overall situation smelled something like, you know, BS.
However, the more talk of a correction only pushes the markets higher it seems, but it would be foolish to ignore some thoughts that this might be the aging bull that is starting to get tired.
Correction 2014: Are You Prepared?
Summary
The S&P 500 is now up over 180% since troughing in March 2009 and it has been almost 3 years since the market experienced a 10% correction.
Historically, market corrections happen approximately every 2 years on average.
We think that this rally is getting very long in the tooth and we wouldn’t be surprised if we have a healthy pullback in the coming weeks or months.
The cost of protection is cheap and investors should consider hedging their portfolios.
The S&P 500 is now up over 180% since troughing in March 2009 and it has been almost 3 years since the market experienced a 10% correction.
With a correction in mind, what would be the best hedge. The are opinions that cover the many spectrum’s from gold, bonds and large, stable, low beta, dividend-paying US companies. In reality there may not be any.
What is the single best hedge against inflation? There may not be one
Rabo TransAct
What asset class is the hands-down best performer when inflation picks up? It depends on what flavor of inflation you’re dealing with.
And for a reality check. I have been lamenting for weeks that the rising of the market is directly disproportional to the falling volume.
Today’s chart shows the DJI on a weekly basis with its weekly volume levels since 2006.
Question for today: How low do you think the volume can go with the DJI still going higher?
ChartHere
The short term indicators are leaning towards the hold side at the close. The all important signs of reversal, up or down, have not been observed so we are mostly, at best, neutral and conservatively holding. The important DMA’s, volume and a host of other studies have not turned and that is not enough for me to start shorting. The SP500 MACD has turned up, but remains above zero at 16.97. I would advise caution in taking any position during this volatile transition period although Barchart.com shows a 16 % sell. (was 56% buy this morning) Investing.com members’ sentiments are 66 % bearish.
If you would like to get advanced buy/sell tweets, sign-up in the column to the right of this post by clicking on the ‘Follow‘ button. Write me with suggestions and I promise not to bite.
The DOW at 4:00 is at 16924.28 up 88.17 or 0.52%.
The SP500 is at 1949.44 up 8.98 or 0.46%.
SPY is at 195.41 up 0.93 or 0.48%.
The $RUT is at 1165 up 11 or 0.98%.
NASDAQ is at 4321 up 25 or 0.59%.
NASDAQ 100 is at 3795 up 18 or 0.47%.
$VIX ‘Fear Index’ is at 10.73 down 0.95 or -8.13%. Bullish Movement
(Follow Real Time Market Averages at end of this article)
The longer trend is up, the past months trend is positive, the past 5 sessions have been positive and the current bias is positive and volatile.
WTI oil is trading between 103.07 (resistance) and 102.32 (support) today. The session bias is sideways and is currently trading up at 102.75.
Brent Crude is trading between 109.30 (resistance) and 108.48 (support) today. The session bias is positive and is currently trading up at 108.77.
Maybe I’m Wrong – Justifying $2,000+ Gold by Jeffrey Dow Jones
Gold fell from 1257.47 earlier to 1246.12 and has since reversed course. It is currently trading down at 1253.20. The current intra-session trend is positive.
Analysts forecast a corrosive year for copper prices
Dr. Copper is at 3.059 falling from 3.092 earlier.
The US dollar is trading between 80.55 and 80.26 and is currently trading up at 80.44, the bias is currently sideways.
Real Time Market Numbers
To contact me with questions, comments or constructive criticism is always encouraged and appreciated:
Written by Gary
live market commentary, market news free, financial news, live stock market news, day trading, econintersect, hft algo computers, us economy, european economy, stock futures, wti oil, brent crude, mr market, spx, dr copper, dow jones, gold, silver
Market Commentary: Large Caps Gap Up At Opening To Set New Historic Highs
Market Commentary: New High Again, Bears Taking A Nap
Market Commentary:
Closing Market Commentary For 06-06-2014
Anther interesting session behind us. The $VIX dropped to the lowest point since 02-26-2007, the SP500 tipped the high mark at 1949.44 and the DOW melted up to 16924.28. What does this mean, I am not sure, but I am not buying long. In fact I increased my cash position as it is just not worth the agration of ‘hoping’ I might another 15%.
By 4 pm the bulls party music was loud an raunchy and the overall situation smelled something like, you know, BS.
<<<<<<<<<<<>>>>>>>>>>
However, the more talk of a correction only pushes the markets higher it seems, but it would be foolish to ignore some thoughts that this might be the aging bull that is starting to get tired.
Correction 2014: Are You Prepared?
Summary
The S&P 500 is now up over 180% since troughing in March 2009 and it has been almost 3 years since the market experienced a 10% correction.
Historically, market corrections happen approximately every 2 years on average.
We think that this rally is getting very long in the tooth and we wouldn’t be surprised if we have a healthy pullback in the coming weeks or months.
The cost of protection is cheap and investors should consider hedging their portfolios.
The S&P 500 is now up over 180% since troughing in March 2009 and it has been almost 3 years since the market experienced a 10% correction.
With a correction in mind, what would be the best hedge. The are opinions that cover the many spectrum’s from gold, bonds and large, stable, low beta, dividend-paying US companies. In reality there may not be any.
What is the single best hedge against inflation? There may not be one
Rabo TransAct
What asset class is the hands-down best performer when inflation picks up? It depends on what flavor of inflation you’re dealing with.
And for a reality check. I have been lamenting for weeks that the rising of the market is directly disproportional to the falling volume.
Today’s chart shows the DJI on a weekly basis with its weekly volume levels since 2006.
Question for today: How low do you think the volume can go with the DJI still going higher?
ChartHere
The short term indicators are leaning towards the hold side at the close. The all important signs of reversal, up or down, have not been observed so we are mostly, at best, neutral and conservatively holding. The important DMA’s, volume and a host of other studies have not turned and that is not enough for me to start shorting. The SP500 MACD has turned up, but remains above zero at 16.97. I would advise caution in taking any position during this volatile transition period although Barchart.com shows a 16 % sell. (was 56% buy this morning) Investing.com members’ sentiments are 66 % bearish.
If you would like to get advanced buy/sell tweets, sign-up in the column to the right of this post by clicking on the ‘Follow‘ button. Write me with suggestions and I promise not to bite.
The DOW at 4:00 is at 16924.28 up 88.17 or 0.52%.
The SP500 is at 1949.44 up 8.98 or 0.46%.
SPY is at 195.41 up 0.93 or 0.48%.
The $RUT is at 1165 up 11 or 0.98%.
NASDAQ is at 4321 up 25 or 0.59%.
NASDAQ 100 is at 3795 up 18 or 0.47%.
$VIX ‘Fear Index’ is at 10.73 down 0.95 or -8.13%. Bullish Movement
(Follow Real Time Market Averages at end of this article)
The longer trend is up, the past months trend is positive, the past 5 sessions have been positive and the current bias is positive and volatile.
WTI oil is trading between 103.07 (resistance) and 102.32 (support) today. The session bias is sideways and is currently trading up at 102.75.
Brent Crude is trading between 109.30 (resistance) and 108.48 (support) today. The session bias is positive and is currently trading up at 108.77.
Maybe I’m Wrong – Justifying $2,000+ Gold by Jeffrey Dow Jones
Gold fell from 1257.47 earlier to 1246.12 and has since reversed course. It is currently trading down at 1253.20. The current intra-session trend is positive.
Analysts forecast a corrosive year for copper prices
Dr. Copper is at 3.059 falling from 3.092 earlier.
The US dollar is trading between 80.55 and 80.26 and is currently trading up at 80.44, the bias is currently sideways.
Real Time Market Numbers
To contact me with questions, comments or constructive criticism is always encouraged and appreciated:
Written by Gary
live market commentary, market news free, financial news, live stock market news, day trading, econintersect, hft algo computers, us economy, european economy, stock futures, wti oil, brent crude, mr market, spx, dr copper, dow jones, gold, silver
Market Commentary: Large Caps Gap Up At Opening To Set New Historic Highs
Market Commentary: New High Again, Bears Taking A Nap
Market Commentary:
Closing Market Commentary For 06-06-2014
Anther interesting session behind us. The $VIX dropped to the lowest point since 02-26-2007, the SP500 tipped the high mark at 1949.44 and the DOW melted up to 16924.28. What does this mean, I am not sure, but I am not buying long. In fact I increased my cash position as it is just not worth the agration of ‘hoping’ I might another 15%.
By 4 pm the bulls party music was loud an raunchy and the overall situation smelled something like, you know, BS.
<<<<<<<<<<<>>>>>>>>>>
However, the more talk of a correction only pushes the markets higher it seems, but it would be foolish to ignore some thoughts that this might be the aging bull that is starting to get tired.
Correction 2014: Are You Prepared?
Summary
The S&P 500 is now up over 180% since troughing in March 2009 and it has been almost 3 years since the market experienced a 10% correction.
Historically, market corrections happen approximately every 2 years on average.
We think that this rally is getting very long in the tooth and we wouldn’t be surprised if we have a healthy pullback in the coming weeks or months.
The cost of protection is cheap and investors should consider hedging their portfolios.
The S&P 500 is now up over 180% since troughing in March 2009 and it has been almost 3 years since the market experienced a 10% correction.
With a correction in mind, what would be the best hedge. The are opinions that cover the many spectrum’s from gold, bonds and large, stable, low beta, dividend-paying US companies. In reality there may not be any.
What is the single best hedge against inflation? There may not be one
What asset class is the hands-down best performer when inflation picks up? It depends on what flavor of inflation you’re dealing with.
And for a reality check. I have been lamenting for weeks that the rising of the market is directly disproportional to the falling volume.
Today’s chart shows the DJI on a weekly basis with its weekly volume levels since 2006.
Question for today: How low do you think the volume can go with the DJI still going higher?
The short term indicators are leaning towards the hold side at the close. The all important signs of reversal, up or down, have not been observed so we are mostly, at best, neutral and conservatively holding. The important DMA’s, volume and a host of other studies have not turned and that is not enough for me to start shorting. The SP500 MACD has turned up, but remains above zero at 16.97. I would advise caution in taking any position during this volatile transition period although Barchart.com shows a 16 % sell. (was 56% buy this morning) Investing.com members’ sentiments are 66 % bearish.
If you would like to get advanced buy/sell tweets, sign-up in the column to the right of this post by clicking on the ‘Follow‘ button. Write me with suggestions and I promise not to bite.
The DOW at 4:00 is at 16924.28 up 88.17 or 0.52%.
The SP500 is at 1949.44 up 8.98 or 0.46%.
SPY is at 195.41 up 0.93 or 0.48%.
The $RUT is at 1165 up 11 or 0.98%.
NASDAQ is at 4321 up 25 or 0.59%.
NASDAQ 100 is at 3795 up 18 or 0.47%.
$VIX ‘Fear Index’ is at 10.73 down 0.95 or -8.13%. Bullish Movement
(Follow Real Time Market Averages at end of this article)
The longer trend is up, the past months trend is positive, the past 5 sessions have been positive and the current bias is positive and volatile.
WTI oil is trading between 103.07 (resistance) and 102.32 (support) today. The session bias is sideways and is currently trading up at 102.75.
Brent Crude is trading between 109.30 (resistance) and 108.48 (support) today. The session bias is positive and is currently trading up at 108.77.
Maybe I’m Wrong – Justifying $2,000+ Gold by Jeffrey Dow Jones
Gold fell from 1257.47 earlier to 1246.12 and has since reversed course. It is currently trading down at 1253.20. The current intra-session trend is positive.
Analysts forecast a corrosive year for copper prices
Dr. Copper is at 3.059 falling from 3.092 earlier.
The US dollar is trading between 80.55 and 80.26 and is currently trading up at 80.44, the bias is currently sideways.
Real Time Market Numbers
To contact me with questions, comments or constructive criticism is always encouraged and appreciated:
Written by Gary
