After trading 1% lower early in the session, stocks recovered to close with modest gains Wednesday. Probably the most noteworthy development was the contraction in…
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S&P futures posted an unfilled downside gap and a fifth consecutive lower close Tuesday. Five down days for the S&P used to be a reliable short-term buy. From 1992 through 2005 this pattern occurred 27 separate times, all of which led to a higher S&P close within two sessions. But in a sign of the times, this price pattern has…
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Volume in E-Mini S&P futures was off 26% from Thursday’s level, triggering the short-term bullish setup mentioned Friday. Only five stocks within the OEX closed under their lower bollinger bands Friday vs. 11 on the prior Friday (see chart), setting up a positive divergence with the S&P. We saw a sharp expansion in new 20-day lows, rising from 1,279 on Thursday to just over…
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Major market averages closed with solid gains Tuesday but finished well off session highs. S&P futures settled below the day’s midpoint, a sign of…
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