Insiders Hit the Bid and Sell this Rally

Buy/Sell Indicator Turns Bearish

by Robert Maltbie,

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Scott MartindaleAfter last week’s Sector Detector article in which I talked about the “relentlessly strong September” making the market quite overbought from a technical standpoint, it looked like the market was going to waterfall into a healthy correction on Thursday. But alas, the bulls pulled a rabbit out of their hat and closed the week with a flourish.

Seeking a New Catalyst

by David Brown, Chief Market Strategist, Sabrient Systems

The market sputtered into negative territory today (Monday), with the S&P 500 closing at 1142 (-0.57%). Still, the index is well above the 50-day and 200-day moving averages.

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Has the Gold Train Left the Station?

by Daniel Sckolnik of ETF Periscope

“It had long since come to my attention that people of accomplishment rarely sat back and let things happen to them. They went out and happened to things.”  ~ Leonardo da Vinci

Watch Schwab's Director of Trading and Derivatives, Mandy Frederick, as he reveals the potential benefits and risks of trading spreads in bullish, bearish and neutral markets.

Sign up for this free webinar now.

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Scott MartindaleA relentlessly strong September is making the market quite overbought from a technical standpoint. So much for September being historically the worst month of the year for stocks. But it now appears to be at a crossroads. And Sabrient's quantitative SectorCast rankings are even more defensive this week.

The market is off to a great start this week, powered by last week's momentum and further buoyed by a lessening of fears about Europe's sovereign debt. All the major indices are above their 50-day and 200-day moving averages, with the S&P 500 finally breaking out of the 1120 resistance level, closing today at 1141, a new 4-month high. As an interesting historical aside, the 1120 resistance level was first encountered way back in April 1998.


On the Verge or on the Edge?

by Daniel Sckolnik of ETF Periscope

“Experience: that most brutal of teachers. But you learn, my God do you learn.” ~ C.S. Lewis

The ragged summer of 2010 is history, thank you very much, but despite an improved outlook for the economy, September drifted forward on very low trading volume last week, probably due to the holiday-shortened week (Labor Day on Monday and Rosh Hashanah on Thursday and Friday). The few economic reports we saw last week were positive, including slightly improved initial jobless claims, and the outlook improved for European banks.

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Breakin' Out is Hard to Do

by Daniel Sckolnik of ETF Periscope

“To know yet to think that one does not know is best; not to know yet to think that one knows will lead to difficulty.”   ~ Lao Tzu

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September 8, 2010 - 2:53pm

Beige Book Notes by Phil:

Phil's comments in red.

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September's Song: Off-Key or On-Pitch?

by Daniel Sckolnik of ETF Periscope

“The pendulum of the mind alternates between sense and nonsense, not between right and wrong.” ~Carl Jung

The first notes of September’s song can be heard loud and clear, and so far it sounds a lot like the mating call of the Bull.

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Scott Martindale Bulls put up a valiant offensive in the last 20 minutes of trading on Tuesday to push the Dow Jones Industrial Average (DJX) back above the 10,000 level as the month of August came to a close. For the last six days of August, bears either succeeded or gamely tried to penetrate this psychologically important level intraday only to be repelled by the bulls.

Housing-keeping note: Thanks to Wordpress's destruction of Phil's Favorites site (and replacement with an invite to sign up for its service!), I've been relocating my blog to TypePad.  Benefits: it looks better, is very user friendly and offers an easy way to search archives for any topic. One unique feature is that while exploring the internet, I can simply click on a button to post an excerpt of an interesting article with a link to the full article.

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