By John Townsend, The TSI Trader
At the time of my most recent article we had just begun the stock market rally out of the July 2nd bottom and I suggested the rally would be able to continue higher, which it did, until the SP-500 1100 level stopped it on 3 consecutive days. Since then, we have taken 45 points off the index and today began a successful rally from 1057 that ended the day at 1083. Read more…
By John Townsend, The TSI Trader
The stock market, we know, moves from one emotional extreme to the other. Fear to greed, back to fear then greed, and so on. A good stock trader should always be asking him/herself, are we at an extreme now and if so, which one? Read more…
By John Townsend, The TSI Trader
On Tuesday afternoon the markets continued to sell off – still. It seems like it will never end. Big red candles on every chart I look. The VIX, the temperature gauge of fear, is rising again and the news headlines are filled with gut wrenching uncertainties about US Municipals, foreign countries that are characterized as ticking time bombs and opinion that we are headed for another Great Depression. Read more…
By John Townsend, theTSItrader
Last week I offered some analysis using the True Strength Index indicator on the daily and hourly charts of GLD, GDX and GDXJ. This week I would like to offer what I believe to be a realistic look at what could be headed our way in the upcoming month of July. The GLD, GDX and SLV charts in this article were made using the publically available software at FreeStockCharts.com. Read more…
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