Market Summary

As can be seen from the table below all markets are in the green when viewing the one week column. In fact, I have heard that this was the best one week gain since 1932. What does all this mean? We are and have been in a bear market which according to my analysis began at the end of 2007. Except for gold, which is showing nearly flat for the past 12 months, all markets are down significantly. This up week then could be called a bear market rally. Bear market rallies generally retrace a certain percent of the recent down move before turning south and retesting the lows. This can be an opportunity to get out of the market before it continues lower. What is interesting here is that the lows which we just recently hit were multi-year lows and if we break those lows on a retest the drop is significantly lower and would indicate an economic depression. Will that happen? We will just have to wait and see.

When sorting the gainers on the table below by the 1W column it is seen that the EEM (Emerging Markets ETF) made the biggest gain up 25.68%. However, on a YTD basis it is still down over 50% and is the most down except for the gasoline ETF and has the greatest percentage to make up to get back to even. The next best gainer over the past week is Russell 2000 ETF which is a measure of the risk appetite in the market. This bullish move on the part of the Russell 2000 is bullish for all markets in general as it shows the sentiment to take on risk in the markets. Finally, the SPY made 3rd place on % Change for the 1W column indicating participation of the broader market in this rally off the recent lows. Click on table to enlarge.



Finally, I want to keep a watch on the three best gainer for the past week as if the market turns these may be the ones to watch as they have been the fastest to move up. Below is the 240 min. 20 day chart of EEM, IWM, and SPY. Lets watch these as the ones to move up the fastest may also lead to the downside. I also want to follow the GLD chart and include that one as well. Click on charts to enlarge.

Emerging Market EEM ETF

Russell 2000 IWM ETF

S&P500 SPY ETF

Gold GLD ETF

Market Summary

The table below is last weeks performance of selected markets. Gold had a good week up 7.5% and is best overall for all the periods listed. The best performers will be at the top of the table, the worst at the bottom when sorted by YTD. And while last week was red for the most part it would have been worse except for the final hours of Friday when the market began to rally. As of today, Tuesday, the market has continued to rally giving the first 3 day rally in some time. With this week being a shortened week we may get a trend reversal and a rally up to the 50 day moving average on the SPY which is at 98 or another 15%. We will just have to wait and see. Click on table to enlarge.

Market Summary

Just a miserable week in the markets. Only gold managed to make a gain of 1.10 %. Everything else was down by a large percent. Octobers low was taken out on Thursday and then the markets put in a huge rally to make an outside key reversal day. This is normally followed by a continuation of the rally but it just fizzled out and Friday was another down day. The overall market trend, while still to the downside, has made significant bounces at our current level as if to be putting in some kind of bottom. However, I would view any rallies as selling opportunities for the foreseeable future due to the weakness in the economy. Click on table to enlarge.

Market Summary

I had a dream last night in which I went into a chart of the S&P500. I actually went into a price candle and found myself on a city street. As I moved towards the right side of the chart, towards the current candle, the activity on the street picked up and was populated with more people. The city was actually one from my past, Santa Cruz, CA, and like the candlesticks on a price chart some of the characters were historical and I knew I could never go back there. And yet as I woke up I wanted to get back to the dream, moving towards the current candle, the now.
This weeks Market Summary shows more green in the columns moving to the right side of the table compared with the past several weeks. We have green in the 4W column for the first time in more than a month. What happens with massive sell offs is that the good and bad are sold at the same time but it is the good that is bought back first. Here we see the $OIX, the CBOE Oil Index, is making the biggest rise. Click on table to enlarge.

Market Summary

Wow! What a month and what a week. The month of October was the worst month in the market since 1987 and this last week was the best week since 1974! Look at the table below and see that the left half of the table, the half with the day, week, and 2 week data is mostly green while the longer term right side of the table is all red. For those who can trade the shorter time frames there was a tremendous amount of green to be made. Lets hope at least a short term bottom is in place and we can extend the gains of this last week. Click on table to enlarge.