SPX update 09/29/2014: just the trendline ma’am.

The trend(line) is your friend and today, at 1964, the SPX hit the long term trendline that has held all downside in check since the December 2012 low. Let’s see if it can create a meaningful bounce from here?! Market breadth indicators are today positively diverging (not shown), meaning that at today’s lower low, breadth was better…

FORD (F) Update: May this be a warning to us all!!!

FORD (F) totally crashed today. It plunged 15% in one hour. May this be a warning to us all and that we ALWAYS must have stop losses, trailing stops, sensible targets etc. This is, IMHO, a hall market 3rd wave my dear friends. With today’s price action I can only confirm the primary C label at…

GOGO: found support at ~$18 and took off.

GOGO had a great day, while the rest of the market was being whacked (except also for GPRO and AAPL). It found support at $17.75 (horizontal green lines) and simple took off. The 20d SMA was also right there today and provided additional support. Note that the MACD, not shown here, did not give a…