The dollar proved to be almighty yesterday as its rally stopped just about all other asset classes from advancing. Gold was up initially but reversed course; crude oil fell back and bonds dropped due to a rise in interest rates. And, as usual, the stock market slipped as the dollar headed higher. Amazingly, the dollar’s rally happened despite a downgrade …
Pulling Off The Highs
It’s no surprise that, after last week’s rally, the markets were due for a pullback. Yesterday, things looked a little dicey for a while early on but, as we’ve seen so many times in the recent past, buyers stepped in and pushed the major indexes off their lows for the day. Except for the Nasdaq, we closed slightly below the …
Turkey ETF Added To StatSheet
Chart courtesy of YahooFinance For many years, TKF, one of the closed end funds (CEFs) investing in Turkey, has been hovering in the top M-Index rankings during bull markets. As is the case with many CEFs, volume is simply too low for advisors to invest any meaningful client assets. TKF, for example, sports an average daily volume of only $750,000, …
Sunday Musings: Losing A Head And A Shoulder
What a difference a few weeks can make. In “Chart Patterns” I examined a huge Head-and-Shoulders (H&S;) formation that the S&P; 500 had formed early in October. Here’s what I said: …if prices rally from the top of the right shoulder and end up rising above the high point the “Head” has made (April 2010), all bets are off, and …
Technical Analysis: The Golden Cross vs. The Death Cross
One of the oldest systems to generate buy and sell signals for equity indexes is the crossover of the S&P; 500’s 50-day and 200-day simple moving averages (M/As). When the 50-day crosses the 200-day M/A from a level below, a buy signal is generated, which is also referred to as the Golden Cross. When it crosses from a level above, …
No Load Fund/ETF Tracker updated through 11/04/2010
My latest No Load Fund/ETF Tracker has been posted at:http://www.successful-investment.com/newsletter-archive.phpThe big three events of this week were all interpreted as positive, and the major indexes closed at new highs of the year. Our Trend Tracking Index (TTI) for domestic funds/ETFs moved above its trend line (red) by +7.99% (last week +6.13%) and remains in bullish mode. The international index has …