by Big Wave Trader | Oct 20, 2015
Perhaps the title should have been “markets higher, but where are our charts?” The lack of leadership continues as we search for viable patterns. A bit of good news was the NAHB housing index or homebuilder confidence index was much better than expectations. The worse...
by Big Wave Trader | Oct 18, 2015
The BWT models are under an across the board NEUTRAL condition. This is a cosmetic signal as we remain very fluid currently. This means that our models are prone to switching to a SELL signal at the first sign of serious distribution at resistance. As it is, all of...
by Big Wave Trader | Oct 16, 2015
Just when this market looks week it reversed today on strong volume. Economic data was again less than desirable with the exception of jobless claims. Inflation is non-existent and Empire Manufacturing was once again weak and weaker than expected. Bank earnings were...
by Big Wave Trader | Oct 15, 2015
Economic data continues to disappoint as retail sales slumped. The slump could solely be blamed on falling gasoline prices. Bank earnings were mixed with BAC beating expectations while JPM missed. Volume jumped on both exchanges as JPM and WMT provided a lot of...
by Big Wave Trader | Oct 14, 2015
The market’s win streak comes to an end as volume ticks higher. Today’s session was a distribution day, but it was not all that bad. For now, only the NASDAQ and Russell 2000 have been rejected at their respective 50 day moving averages. S&P 500 still...
by Big Wave Trader | Oct 13, 2015
A light day on the street as Columbus Day had many off the job and enjoying a long weekend. Volume was off about 20% across the board. Light volume on Monday’s is no real surprise as many Monday’s have been light. The VIX has come back to earth in a hurry and is...
