Added 11/22, 2:32 pm: Global Markets in Review: Share Prices Too Far Ahead of Economic Reality -- Seeking Alpha - By Prieur de Plessis, with a great overview of asset classes, charts and indicators, the sugnificance of short-term T-bills going negative, and even quoting Richard Russell on the bearishness of valuations. At http://seekingalpha.com/article/174683-global-markets-in-review-share-prices-too-far-ahead-of-economic-reality.
", 8:48 am: A choppy ride near-term is what Todd Salamone projects, at http://www.schaeffersresearch.com/commentary/observations.aspx?ID=96420. Here's their introduction:
Monday Morning Outlook: Post-Expiration Week Hangover Possible
SPX continues to struggle with technical resistance
Last week was a hollow win for Wall Street bulls. The Dow Jones Industrial Average (DJIA) managed to extend its winning streak to three weeks in a row, but the S&P 500 Index failed to overcome a key technical hurdle in the 1,120 region. A mix of lackluster corporate reports and worrisome economic data proved less than helpful for stocks during a week that is historically bullish. Looking ahead, Todd Salamone, Senior Vice President of Research, sees mean-reversion and coma-like price action for the market, as equities deal with post-expiration week headwinds. Todd also zeroes in on the falling 50-day buy-to-open put/call volume ratio for the S&P Depository Receipts (SPY) and considers what impact it may have on the market. Next, Senior Quantitative Analyst Rocky White mines technical performance for gold and the gold-priced DJIA. Finally, we wrap up with a look at some key economic and earnings reports slated for release this week.
Safe Haven | Technical Market Report. By Mike Burk, at http://www.safehaven.com/article-15086.htm.
SP500 High at Fifty Percent Time and Price Cycles - PTV-Investing.com. Additional Gann analysis by Andy Askey at http://ptv-investing.com/blog/2009/11/17/sp500-high-fifty-percent-time-price-cycles/.
Next low in Spring, then retest high in August? - Weekend Outlook – 15Nov09 - PTV-Investing.com; By Andy Askey at his Gann analysis site, http://ptv-investing.com/blog/2009/11/15/weekend-outlook-15nov09/.
Look out for the TED spread! Check out this article, Goldman Ire
Moving to Mainstream Media & TED Spread | Charts and Coffee Blog - at http://www.chartsandcoffee.com/2009/11/goldman-ire-moving-to-mainstream-media-ted-spread/.
Time Determines S&P Turning Point-Minyanville - A free article by Jeffrey Cooper that discusses time, price and Gann. (Hmmm, it is interesting that some indices topped in October, 2 years after the 2007 peak, and others this month 1 year from the November 2008 lows.) An interesting range of thoughts; at http://www.minyanville.com/articles/jeffrey-cooper-s%26p-rally-bulls-bears-minyanville/index/a/25532.
This weekend, Tim Wood provided his article "The Rally Lives On" with his Dow Theory observations and comments as the featured Market
Observation at both Safe Haven, and also at FinancialSense.com, http://www.financialsense.com/. And Steven Hochberg of Elliott Wave International is the technician in this weekend's audio financial news-hour at Financial Sense.
Safe Haven | Gold: A "Channel Buster" or a Runaway Parabola? - By Clif Drok (who's also just published a book, "The Stock Market Cycles"), posted at http://www.safehaven.com/article-15088.htm
Here's a quote:
The gold stocks have ridden on the back of the gold rally, which in itself is partly the result of the high level of fear surrounding the economic outlook. Contrary to popular belief, gold tends to perform well in periods of economic weakness and is especially bolstered during the hyper deflationary leg of the K Wave. Deflation can best be seen in the contraction in consumer credit outstanding on both an actual as well as a percentage change basis, as shown in the following chart.
Options Trader Friday Outlook: Is Goldman Sachs Stupid, Or Evil? -- Seeking Alpha - By Philip Davis - something to read especially if you still trust in sell-side "fundamental analysis": http://seekingalpha.com/article/174528-options-trader-friday-outlook-is-goldman-sachs-stupid-or-evil.
Options Trader Wednesday Outlook: 10,500 or Bust! -- Seeking Alpha - By Philip Davis - interesting suggestions about the bigger picture in equities, dollar and oil, even though this article was focused on the near-term options positions: http://seekingalpha.com/article/174038-options-trader-wednesday-outlook-10-500-or-bust.
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