Trader’s Narrative

Since the last time I looked at the trend of the market, the S&P 500 has put in a higher bottom at 1235. This is the first thing we need for a change in trend. The next thing we need is a higher high.
Right now, it seems the market is working on that. If […]

Here’s a brief run down of the current sentiment picture from the widely followed sentiment surveys:
AAII:
Having recovered from a bout of deep bearishness, the survey shows 43% bears and 35% bulls. This rescues the bull ratio from the extreme levels it had reached recently (not seen since April 2005 and March 2003) but it still […]

Yesterday after the bell, Microsemi released their quarterly earnings report and gave positive guidance for the upcoming quarter. This morning, propelled by that news and upgrades, their stock gapped up above previous resistance on the daily chart:

The first candlestick was a wide range bar which expanded price 4% from $24.67 to $25.64. The second candle […]

This is a 20 minute clip of Tony Robbins at the 2006 TED in California. TED stands for technology, entertainment and design and is an annual conference where some the most intriguing, talented and intelligent people on earth have the stage for a few minutes to share their ideas with each other and the world.
Robbins […]

Utilities have been among the few sectors with high relative strength during this recent swoon that began in May. Even Chairman MaoXian recently made note of this. Usually this would make me like the sector because by swimming upstream against the current, it is showing that the ’smart’ money has spoken. But there is more […]