3/8 Watchlist

The markets are marking time today. There's little change in my indicators since this morning. I've added the telcom company AT&T to the Watchlist, as well as to my holdings, and kicked Texas Instruments off the island.

The watchlist.

3/5 Watchlist

A very late posting because of connectivity problems earlier today.

Blue chip stocks (SPY) traversed 1.1% low to high today after gapping up at the open. Today's high was 1.4% above yesterday's.

The move propelled SPY to within 0.8% of the $115.14 high that ended a 10-month run-up beginning at $67.10 in March 2009.

3/4 Watchlist

The indicators continue in the paths they entered at the open. Just another day in low-volatility paradise. (I, however, am a high volatility person. This little touch of Heaven, for my style of trading, reeks a bit like Hell.)

The watchlist.

3/3 Watchlist

Every time I look at the blue chips chart today, my brain just swings into a rendition of the itsy bitsy spider song. You know the one, "Itsy bitsy spider, climbed up the water spout".

Today's SPY candlestick looks like an itsy bitsy spider hanging by a silken thread from the 78.6% Fibonacci retracement line.

Of course, we all remember the next line of the song: "Down came the rain, and washed the spider out," no doubt at least to the 61.8% retracement level.

Who'd'a thought that Fibonacci retracements could be applied to spider analysis.

3/2 Watchlist

Blue chip stocks (SPY) are hanging from the 78.6% Fibonacci retracement line like a spider hanging from a door frame. The open-to-now range is just a few cents.

Treasury long-term bonds (TLT) have pushed up into yesterday's trading range, recovering nearly all of what they lost on this morning's downward gap.

Gold (GLD) has broken above the trading range set Feb. 16-22 into an area of congestion set in mid-January. Altogether, it has traversed 1.4% today low to high.

3/1 Watchlist

The blue-chip stocks (SPY) have peaked today at $112, or 0.4% above the previous near-term peak on Feb. 22.

In terms of prices, the pattern has turned ambiguous. It can be seen as a lower high (if prices were to turn down from the $112 level on the daily chart), a continuation of a downtrend.

Or the price could continue up to above the next high, $115.14 set on Jan. 14, in which case a correction of six weeks or so has come to an end and SPY in the uptrend that began in March 2009.

2/25 Watchlist

This is turning out to be a "don't worry be happy" kind of day.

The blue chip stocks (SPY), having gapped down this moning, have retraced back up into the low of yesterday's trading range.

The fear index (VIX), although far from sanguine, has turned less fearful that it was at the break of day.

Only the dollar has remained true to its intentions, sliding further against the yen (USD/JPY).

2/24 Watchlist

Very little movement of the indicators after the two 10 a.m. Eastern events, Bernanke's testimony on the Hill and the new home sales report.

Blue chip stocks (SPY) are contained within yesterday's trading range. Treasury 20- and 30-year bonds (TLT) have dropped back to within the upper reaches of yesterday's range.

Only oil (USO) is on the move, rising to 0.8% above yesterday's close and traversing 2.1% today, low to high. The weekly petroleum inventory report came out at 10:30 a.m.

BSX macd bull signal

BSX is showing the tiniest of macd bull signals, rising to 0.001107 above the zero line. Is that a bull signal we can believe in?

BSX gapped down hugely after earnings were released on Feb. 11, and has been trading mainly sideways for the past six trading days.

There was a Person's Proprietary Signal on the bull side on Monday. The money flow index dipped below the oversold line and has since move up to barely within the neutral zone.