Courtesy of Zero Hedge Yet someone (or much more likely something) keeps pushing it higher. A chart of the market’s divergence index indicates the most exhausted uptrend witness in years. Divergence Index: ((10 Day Momentum * 40 Day Momentum)/Variance 40 Day Price Changes). Not surprisingly, large positive values indicate an exhausted trend. Visit...

Sometimes I wonder how my pals over at Elliott Wave International ever make any money — they give so much valuable trading education away for free. I was surprised to receive an email the other day that told me they’ve compiled 14 of the very best lessons from their Trader’s Classroom Collection...

Courtesy of CalculatedRisk The MBA reports: The Market Composite Index, a measure of mortgage loan application volume, was 528.9, an increase of 2.8 percent on a seasonally adjusted basis from 514.4 one week earlier. … The Refinance Index increased 4.0 percent to 2089.7 from 2009.4 the previous week and the seasonally adjusted Purchase Index...

Be sure to watch these education chart video presentations below. Pre-earnings Apple Analysis What’s the best strategy for USO? The cyclic pattern of Gold! Revisiting and reanalyzing the USD/JPY How you SHOULD have traded Goldman You will see how Adam measure moves and how this particular move could be a really good one. He will also share with...

Hat Tip Tyler

The September S&P 500 index was lower due to light profit taking overnight as it consolidates some of this month’s rally. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near term. Day traders are looking for bullish set ups taking us into a double top at 958. As we head into the open...

Courtesy of our Friend Phil at Phil’s Stock World What a pretty picture “THEY” painted yesterday! I titled yesterday’s post “8,900 or Bust” and it did look like a bust around lunch as we tested our hold targets of Dow 8,800 (8,811 was the low), S&P 946 (944), Nas 1,860 (1,892), NYSE 6,200 (6,084) and Russell 530 (518)...

Courtesy of Chuck Young From Rebel Traders Moodys places all classes of the company’s credit card securities on review for possible downgrade The move will impact about $64.4B of asset-backed securities. These securities are backed by a $93 billion revolving pool of unsecured consumer general purpose bank credit card receivables. The review is primarily...

Courtesy of Tyler from Zero Hedge As seems to be the case all too often, volume picks up only when the market starts dropping. Updays see a general decline in relative volume, compensated only by downdays: basically fewer and fewer trade to the upside and only the liquidity providers give the illusion that there is notable volume which is “pushing”...

The NASDAQ 100 closed higher on Tuesday as it extends this month’s rally above the 50% retracement level of last summer’s decline crossing at 1522.75. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices...

The old adage says, “you are what you eat,” and today we’re offering you a heaping portion of brain food. At long last, the mainstream media is beginning to question buy-and-hold investing – it’s a myth that EWI’s original Independent Investor eBook debunked years ago. Even the “Efficient Market Hypothesis”...

Courtesy of  CalculatedRisk Click on map for larger image. Here is a map of the three month change in the Philly Fed state coincident indicators. Forty seven states are showing declining three month activity. This is what a widespread recession looks like based on the Philly Fed states indexes. On a one month basis, activity decreased in 46 states...

Courtesy of  Greg Michaels, Deal Breaker White House tennis champion Larry Summers wants banks to remember that they have the “aura of government support” to thank for their success. While his boss was campaigning against GS deriving profits from taking risk, LS set the behavior litmus test by which the likes of Lloyd and Jamie Dimon will...

Swiss Banks Freeze Out US Clients (WSJ) It’s not that they don’t want your business they’re just a little gun-shy about coming in contact with the IRS and its narrow-minded views of doing business again. CIT $3 Billion Bondholder Rescue May Not Prove Permanent Cure for Lender (Bloomberg) “The company has indicated they have...

In today’s video Adam will be looking at an ETF that closely tracks the natural gas market. The United States Natural Gas Fund (PACF_UNG) is one of the more popular energy ETFs and a could be a great market to add to your portfolio as the “Trade Triangles” are catching profits from the spectacular moves. In this short video he is  going to show...