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Dr. Kris
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Dr. Kris has two degrees from MIT because one just wasn't enough. Her life goal was to figure out the universe and having done that (at least to her satisfaction), she decided to tackle something even more difficult—the stock market. Applying the scientific method along with an insatiably... More
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  • Chart: Dow Transports Start Another Leg Down

    Daily Chart of the Dow Transports. Note that the price has been trending down since the end of February, after triple testing its previous high. Next level of support is at 800.

    Jul 23 6:08 PM | Link | 3 Comments
  • Dow Transports Push Higher On Stock Rotation

    Today's strong move by the Transports is buoying the other major averages, most notably the small-cap Russell 2000 (RUT) which is moving back above 1260 resistance. The heightened VWAPs on both the positive and negative sides is a sign of stock rotation out of energy and energy related issues, REITs, and materials, and into consumer discretionary, internet, and software. A rise in bonds today pushed bond funds lower forcing the Long Term Treasury bond etf (NYSEARCA:TLT) to fall under major support at $118.

    On the flip side, the news bode well for banks and investment services. Two bank etfs, the Regional Bank etf (NYSEARCA:KRE)and the Bank etf (NYSEARCA:KBE) both gapped up to hit new yearly highs. Also, the Broker/Dealer etf (NYSEARCA:IAI)bested $44 resistance to reach a seven year high. These groups should continue to outperform in a rising interest rate environment. In currencies, the greenback continues to slide against other currencies. The Bull Dollar etf (NYSEARCA:UUP) is testing $25 minor support; a fall below that would likely send it down to test major support at $24.50.

    1:45 pm ET: Intraday support/resistance:
    SPX 2108/2122
    DTX 840/855.5
    DJIA 18010/18170
    Nasdaq 5085/5115
    RUT 1252.75/1267.25
    VIX 13.4/14.25 (VIX under 15 is overall bullish)
    Trin range: 0.85 - 1.05 (rising Trin is bearish)
    Average VWAPs: +69/-71 (stock rotation)

    Jun 03 2:38 PM | Link | Comment!
  • Transports Continue To Decelerate

    Market Notes (2pm ET): The Dow Transport Index (DTX) continues to buck the trend and could be the anchor that ultimately moors this market. The DTX is on track to close at a seven month low.

    1:40 pm ET: Intraday support/resistance:
    SPX 2104.8/2120.8
    DTX 826.5/836
    DJIA 17965/18135
    Nasdaq 5057.5/5102.5
    RUT 1241.1/1253.9
    VIX 13.15/14.45 (falling VIX is bullish; VIX under 15 is overall bullish)
    Trin range: 0.7 - 1.1 (bullish to neutral)
    Average VWAPs: +94/-47 (bullish)

    May 29 2:06 PM | Link | Comment!
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