QQQ retreated from the 50 SMA and is below the 200SMA. There’s also an inverted hammer that should hold for today. This should be a good reversal down to support at 50. A bear put vertical could be a good play here. The Oct 54/50 is going for about 1.10.
Steve Jobs announced that he is resigning today, sending Apple stock lower. Apple went as low as 350 in the after hours session. This is a pull back but may not be the time to step into the fire. On a daily chart we have several areas to look at. Around 350 is […]
Swiss Franc Futures have triple bottomed at an area near resistance from the end of July. MACD, Stochastics, and RSI haven’t completely reversed yet and the Persons Proprietary Signal has not indicated a buy yet. This may be worth watching if it goes sideways for a bit and then reverses its downtrend. The Chaikin […]
Friday points to a very unhappy day next week. SPY printed an inverted hammer at the close which is a bearish sign. Volume was almost as high as the previous day which was also bad, and both days volume is higher than any of the recent good days except 8/9. Other technical […]
In China there is a trend of taking out a universal life (UL) insurance policy on newborn children as an investment vehicle. UL policies are a combination of life insurance and savings. Essentially the policy holder pays for life insurance and then some. The money that does not go toward the insurance premium becomes […]