Tag: DOW (INDEX:DJI)

Is It Just Me Or Is Janet Yellen Incompetent

Posted on by The INO.com Team

In all the years I've been tracking the Fed and the previous chairmanships, Janet Yellen is coming across as being totally out of her league and just plain incompetent. Now before anyone says that's a sexist remark, I would say the same thing about her predecessor "Helicopter Ben." Whose big idea was to do everything the opposite way of what they did in the "Great Depression" and that is, to print money, print money and print even more money. The bottom line is the Fed has no idea how to get out of this quandary that they created themselves and for the country.

What's going to happen no one knows for sure, but one thing is certain, the markets will tell us where they want to go eventually. The other thing that's certain is that the Trade Triangles will get it right. I'm 100% confident in saying that.

Let's just take it and look at where the markets closed last Friday. Continue reading "Is It Just Me Or Is Janet Yellen Incompetent" →

It's Friday And Things Could Get Very Ugly

Posted on by The INO.com Team

Yesterday Janet Yellen, the head of the Federal Reserve Board, did exactly what I expected her to do and that was nothing. As I have said many times, the Fed is out of bullets and out of options.

If you have practically zero interest rates, how much lower can you go?

It's the end of the week and things could get very ugly in the market today. Earlier this week I talked about not getting suckered into the fake rally as the major trend in the indices was and still is on the downside. Today may prove that I was right and here's why. Continue reading "It's Friday And Things Could Get Very Ugly" →

Sorry Guys, I Am Not Drinking The Kool-Aid

Posted on by The INO.com Team

Yesterday, the market was remarkably quiet and lulled everybody into a sense of complacency. Well, I'm sorry I'm not going to drink the Kool-Aid because I still think we are going to see a push to the downside in the markets.

With all of the Trade Triangles in a negative mode and the weekly pattern indicating stocks should finish lower for the week, I see little to get excited about.

Everyone is waiting for Thursday and to see what the Fed is going to do. Even the best minds in the industry are split on what the Fed is likely to do on Thursday. My view is that they are just going to leave everything the way it is. The Fed is like a deer frozen in the headlights of a car and incapable of moving one way or another. What I suspect they will say is that they need more data, which I think is a cop out. Continue reading "Sorry Guys, I Am Not Drinking The Kool-Aid" →

If This Same Pattern Repeats, Watch Out!

Posted on by The INO.com Team

For the past nine weeks, the Dow and S&P have been repeating a pattern that if repeated this week, will spell trouble for the markets. The market has been going up and down in a somewhat regular fashion. If you look at a weekly chart of the Dow and S&P, you can see that they have not had two consecutive weeks closing in the same direction, either on the downside or the upside.

Last week we saw the indices close higher for the week and if the pattern repeats, this should be a down week with a lower weekly close.

Here are the key levels to watch today. Should these levels be broken, I would expect the markets to accelerate to the downside. Continue reading "If This Same Pattern Repeats, Watch Out!" →

It's Friday And Things Could Get Ugly

Posted on by The INO.com Team

Even before the announcement of non farm payrolls, which is one of the most significant data releases of the summer, the markets were on the decline. One of the reasons for that has to be yesterday's market action, all the indices fell from their best levels of the day and closed at or close to the lows.

Yesterday's close in both the Dow and the S&P 500 was on target to be the lowest Friday close if nothing happened today. The fact that we are down sharply this morning is a huge negative in my book, but is not one that is surprising.

As we go into the long Labor Day weekend look for the markets to be very thinly traded and volatile. I'm looking for a new low Friday close today. The lowest most recent Friday close was 16,559.75 on the Dow and 1,970.89 on the S&P 500. The NASDAQ was the only index to remain above its lowest Friday close yesterday by just a few points. The level to watch in the NASDAQ is 4,717.16, that level represents the lowest most recent close on a Friday. Continue reading "It's Friday And Things Could Get Ugly" →