Tag Archives: SPY

Bears May Get Fooled Once Again and Get Crashed

Posted on October 14, 2012 by Michael Harris

The weekly charts of SPY and QQQ reveal  the mechanism via which since the low of 2009 bears have been crashed all the way to recent highs and trend-followers have been  unable to make good returns. The only winners here … Continue reading →

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Is the Correction Over or There is More to Come?

Posted on September 27, 2012 by Michael Harris

US stock market indices have corrected since reaching overbought levels two weeks ago. SPY dropped 2.68% since its close of $147.24 on August 14, two weeks ago. The technical picture is a little interesting as it shows high probability for … Continue reading →

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TLT and SPY Technical Analysis

Posted on September 21, 2012 by Michael Harris

TLT managed a test of its 200-day simple moving average and SPY tested the upper trendline of the up-channel it broke to the upside last week. Both want to go up and this is indicated by the increasing correlation (or decreasing anti-correlation).

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SPY Attempt to Break Above $140.92 Caused a Bearish Divergence

Posted on August 9, 2012 by Michael Harris

The bearish divergence in SPY was caused by an attempt to break above $140.92, the high of the first day of May of this year. This bearish divergence is also present in the S&P 500 index as I wrote yesterday. The … Continue reading →

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An Interesting Pattern in SPY

Posted on July 26, 2012 by Michael Harris

The pattern in SPY is interesting because in the past it has been profitable in 9 out of a total of 11 major ETFs. This is a 5-day pattern with the close of the first two days above the high of the middle … Continue reading →

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Will the Market Rebound Continue Into Next Week?

Posted on July 15, 2012 by Michael Harris

Contrary to what some people say, the US market has been fairly predictable recently, at least for those that use the right tools in the right context. Actually, both recent strong rebounds in the S&P 500 index, a +2.5% on June … Continue reading →

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Fundamentals or Technicals Caused Friday’s Correction?

Posted on July 7, 2012 by Michael Harris

Most journalists attributed Friday’s correction to the dismal employment report. Let us assume for a moment that the report was exceptionally strong. Would the market rally or drop? I think it would drop in this case too because very strong … Continue reading →

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Euphoria May Not Last Long But Long Enough

Posted on July 1, 2012 by Michael Harris

In my post “Fasten Your Seatbelts“ on Tuesday, June 26, 2012, I talked about a dose of short-term euphoria that would propel S&P 500 near 1,363, which is a resistance level. This dose of euphoria was injected in the market in the form of … Continue reading →

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A Rare Divergence

Posted on June 28, 2012 by Michael Harris

Signals generated by a Price Action Lab scan as of the close of Wednesday, June 27, 2012, indicate a divergence between SPY and QQQ. This type of divergence is rare and it may mean a few different things with the most … Continue reading →

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Common Long Signals in DIA, SPY and QQQ

Posted on June 27, 2012 by Michael Harris

I call common patterns those that form in one or more securities that belong to a pre-defined group but are profitable in the history of all securities in the group. This special category of patterns may be identified using a unique feature … Continue reading →

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