I’ve always thought ‘Melt Up’ was a stupid term. Nevertheless, it appears to be applicable. By all measures my typical measures this market is overbought. The SPX is nearly two standard deviations above the monthly pricing average (and has been such for several days now). It’s well above it’s 50/100/200 day trading averages. And even […]
Author Archive for: davelittlejohn
About David Littlejohn
David is BigFoot's Chief Technical Analyst and all-around answer man. He is 97% correct at least some of the time.
Entries by David Littlejohn
Starting dicey with middle eastern conflict. But honestly, the Fed isn’t fooled. Policy unchanged, look for a pull-back, but the recipe doesn’t call for a massive pull-back… yet… Also, if you’re reading this, send an email to email@example.com – playing with format for the new year. I want to know if anyone is actually using […]
It’s been a fantastic rally for stocks over the past couple months as Santa Claus was coming to town. Now is where things get interesting. As discussed, last week was really the last full ‘trading’ week of the year. With the Christmas and New Year’s Holidays happening mid-week you can count on lower trading volume […]
Is Santa bringing the stock market a gift?
Looks like the Santa Rally may still be on its way.
After setting a series of all-time highs it equity markets may be ripe for a trader’s pull-back. This is typical any time there’s been a material run up in the markets. While the climb has been orderly, the SPX is showing over-bought characteristics at these levels. Based on our numbers, a pull-back toward the 3035-3050 […]
Last week managed to finish at all-time highs for the SPX. The question now is how high can we go? While there is no pre-defined limit, our original 2019 projections had 3100 as a likely target. Given current momentum, the SPX may exceed this level either this week or next. The question will then shift […]
This is one of those deals where the headline is probably all you need. Look for the SPX to break out all time highs, then probable a quick trader’s pull-back to re-test about 3000 or so before a end-of-year move to push 3100. How’s that for short and sweet? IMPORTANT DISCLOSURE INFORMATION Please remember that […]
A potential trade deal with China could push stocks higher this week
Markets still appear slightly oversold, even with a big rebound on Thursday and Friday last week. In fact, all three of the major indexes (DJIA, SPX, NASDAQ) have recovered their buy signals. This is a sign that volatility is again on the decline as markets seek to find traction. Most of the underlying technical data […]
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