RUT, SPX and DJI Closed Above Their Down Trending Trend Lines

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)

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Bulls could not have asked for a better day.  Indices rallied better than 1%, closed at the high of the day and small caps nicely out performed.  Volume was good and breadth was fantastic.  RUT, SPX and DJI closed nicely above their down trending trend lines.  To me, that means the likelihood of seeing major indices testing their recent multiyear highs is almost certain.

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Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice. 

Correction Is Over Or Very Close To It

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The correction that started on 5/2 is very likely complete or close to it.  While major indices declined last week, number of new lows both for NYSE and NASDAQ actually decresed and there was no significant selling in the broader market.

Indices look good and ready to move up to challenge their recent multiyear highs.

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Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.

Despite Indices Selling Off Sharply Today, Broader Market Is Intact

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)
RTS is selling PCX and buying GME in its place tomorrow at the open.

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Despite indices selling off sharply today, the broader market is intact.  These sell offs are buying opportunities.

I'm taking this week off.  I will post only if it's necessary.

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Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.

A Test Of SPX 50D SMA Is Likely

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)

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As of close of last Friday (5/20) DJI component of SGS Market Timer went "Short", but all remaining 4 components (NAZ, DJT, RUT and SPX) are still long.   The sell off on Friday was disappointing for the bulls.  It clearly signaled that the likelihood of  the current consolidation phase continuing for a few more sessions is high.  For SPX, a test of its 50D SMA is very much in the cards, a close below its 50D SMA and possibly below its Primary Trend Line would be a definite game changer.

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Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.

It's Looking Good

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)

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Market is looking good.  We should see indices continuing their rally to challenge their recent multiyear highs.  DJT and NAZ very likely set new highs next week.

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Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.

All Major Indices Are Back Testing Their 13D EMA's

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)

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Today's rally was impressive for the following reasons:

• The rally was steady and evenly paced indicating that side money is scaling in.
• Market breadth was fantastic for both NAZ and NSYE.
• There was very little panic buying that usually accompanies short covering rallies in a bear market. 

All five major indices closed just below their 13D EMA's.  A close above that moving average (probably tomorrow) would be bullish, signaling that the correction is done.  I think chances are excellent now for indices rally to test their recent multiyear highs.

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SPX, NAZ & DJI Successfully Tested their 50D SMA

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)

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SPX, NAZ and DJI successfully  tested their 50D SMA today.  The correction that started on May 2 is very likely done or very close to being done.

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The Flight Is On Again For Tomorrow -- It's A Toss Up

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)

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Nearly all major indices are at hard support levels both on their daily and weekly charts.  If indices are to sell off, it would happen tomorrow, otherwise we very likely  are near or at the bottom for the current correction.  The flight is on once again, and for tomorrow I think it's a toss up between bulls and bears.

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My AutoTweet API is Working Again ...

My auto tweeter api is working, at least until Twitter changes things.

http://twitter.com/vsgopader

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New Highs For TRN and NAZ Very Likely Next Week

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)
RTS is selling MEE and buying ERTS on Monday at the open. 

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I'm Selling BIDU and buying ERTS on Monday, not sure when, I'll post on FB.
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Despite major indices selling off around 1% today (Friday), the broader market held up very well.  SPX closed above the active neck line (SPX 1336), still validating the recent inverse head and shoulder price formation.  SPX has also formed a falling wedge (thick green) which is a bullish price pattern and signals a  break out to test the recent high (SPX 1370) probably by late next week. 

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Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.

Google Blogger Finally Up and Running

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)

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Google Blogger finally came back on line.

Market is selling off, but there is hardly any selling in the broader market.  Indices should cut their losses into the close.

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Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.

Today's Sell Off Was Very Likely A Shake Down

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)

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Despite the sell off in indices today, there was no wholesale liquidation in the broader market.  The neckline of the recent Inv. H&S on SPX daily chart held up well as a support at SPX 1336.  There is a good chance that support get tested again tomorrow and then Market rallies into the close.   A close below that support is not likely, but it would mean a trip down to lower 1320's to test 50D SMA. 

The recent sharp sell off in commodities means two things to me: (1) The doom and gloom for our stock market, our currency and economy which is being pushed by those who are in the business of selling fear and hate is nothing but crap.  That crap is put out there everyday for idiots to buy and consume.  (2) Money coming out of commodities will find its way into equities.

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Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.

Market Looks Excellent .... Higher We Go

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)

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RUT is our performing all other major indices.  We should see new highs for major indices very likely sometime this week or next.

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Market Is Ready For A Big Move Up

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)

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RUT continued to our perform other major indices today.  Also market internal numbers looked very bullish.  I believe SPX is on its way to reach the recent Inverse H&S price objective around 1430.

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Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.

A Test Of SPX 50 D-SMA Possible Early Next Week, But Not Likely

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)
My LT Portfolio
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 Friday was certainly disappointing for bulls, but the market internals held up pretty well.  Early next week, at worst SPX could retest the active neckline and possibly last Thursday's low around lower 1330's.  There is an excellent chance that indices rally later in the week and close substantially higher, possibly 1430 by end of May as shown below:

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Indices Should Turn Tomorrow ... New Highs Sometime This Month

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)
RTS is selling NBR and buying CBS tomorrow at the open.
My LT Portfolio
I'm Selling NBR and buying GMCR tomorrow, not sure when, I'll post on FB.
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Internal numbers were very bullish today, TRN, RUT and NAZ (the leaders) totally out performed SPX and DJI.  We either saw the bottom today or we'll see it tomorrow.  Indices should resume their rally to set new highs by the middle to end of this month.

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Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice. 

Tomorrow Is 50 / 50

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)
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If initial claims data is better than expected tomorrow, indices very likely turn and go up in the next few days to test recent highs.  Otherwise, they will sell off.  SPX could back test the active neck line around mid 1330's.  I would be a buyer of that dip.

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Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.  

Test of 13 D-EMA and Backtesting of Neck Line for SPX

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)
RTS is selling NOV and buying JDSU tomorrow at the open.
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More selling is very likely for tomorrow and Thr.  Odds are very good for SPX to test its 13D-EMA in mid 1340's and tag the active neckline in upper 1330's.

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A Test Of SPX 13 D-EMA Very Likely This Week

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)
My LT Portfolio
In my LT, I'm selling GG tomorrow and buying ARMH at the open.
My IT Portfolio
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All major indices set multiyear highs today before selling off into the close.   Selling should continue for at least another day or two.   SPX very likely will test its 13 D-EMA around 1346 and possibly tag the neck line of the recent Inverse H&S price formation around 1336.  Those two prices are excellent entry points to add to or open new long positions.

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Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.  

Long Term - Indices look Fantastic / Very Short Term - Indices Are Overbought

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)
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SPX is overbought (to me that doesn't mean go and short SPX, it means it's time to take profit in short and intermediate term long positions,  also it means it's smart to wait to open  new  long positions).  A 1.5% to 2% drop is very much in the cards for this week.

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Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.