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The Market Signals Caution
Longs may get trapped before the holiday weekend.
Marc Eckelberry    

This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO+.

NDX (Nasdaq 100) tags 4079.45, just shy of the August 2000 high of 4080.49, which is also lining up with weekly R1 for NQ (Nasdaq 100 futures). We are also seeing a negative divergence creeping in with the S&P 500 (SPX) stronger than the NDX.  Contrary to what I am reading just about everywhere from the general media to the financial press, I don't think we are safe up here. Game tactics suggest trapping a lot of folks thinking long into the Labor day weekend after a monster rally, so I am waving a red flag up here. It would have been preferable to attack this holiday from a weaker standpoint.

Incidentally, as I pointed out a few days ago, today marks the anniversary of the August 1987 all time high, which was only regained two years later.
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No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
More From Marc Eckelberry
The Market Signals Caution
Longs may get trapped before the holiday weekend.
Marc Eckelberry    

This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO+.

NDX (Nasdaq 100) tags 4079.45, just shy of the August 2000 high of 4080.49, which is also lining up with weekly R1 for NQ (Nasdaq 100 futures). We are also seeing a negative divergence creeping in with the S&P 500 (SPX) stronger than the NDX.  Contrary to what I am reading just about everywhere from the general media to the financial press, I don't think we are safe up here. Game tactics suggest trapping a lot of folks thinking long into the Labor day weekend after a monster rally, so I am waving a red flag up here. It would have been preferable to attack this holiday from a weaker standpoint.

Incidentally, as I pointed out a few days ago, today marks the anniversary of the August 1987 all time high, which was only regained two years later.
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
More From Marc Eckelberry
Daily Recap
The Market Signals Caution
Longs may get trapped before the holiday weekend.
Marc Eckelberry    

This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO+.

NDX (Nasdaq 100) tags 4079.45, just shy of the August 2000 high of 4080.49, which is also lining up with weekly R1 for NQ (Nasdaq 100 futures). We are also seeing a negative divergence creeping in with the S&P 500 (SPX) stronger than the NDX.  Contrary to what I am reading just about everywhere from the general media to the financial press, I don't think we are safe up here. Game tactics suggest trapping a lot of folks thinking long into the Labor day weekend after a monster rally, so I am waving a red flag up here. It would have been preferable to attack this holiday from a weaker standpoint.

Incidentally, as I pointed out a few days ago, today marks the anniversary of the August 1987 all time high, which was only regained two years later.
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
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