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Stocks pull back from recent peaks

NEW YORK (CNNMoney.com) — Stocks slipped Tuesday as investors stepped away from the recent rally that left the Dow industrials just shy of the 11,000 mark.

The Dow Jones industrial average (INDU) lost 28 points, or 0.3%, after ending the previous session at 10,973.55, the highest point since Sept. 26, 2008, when it closed at 11,143.13.

The S&P 500 index (SPX) slipped 3 points, or 0.3% after closing the previous session at its highest point since Sept. 26, 2008, when it topped 1200. The Nasdaq composite (COMP) fell 9 points, or 0.4% after closing at its highest point since Aug. 15, 2008.

Can it be true that my previous post on bond stock divergence is in effect?

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Inverse correlation between HYG and SPY!

April 6, 2010 1 comment

There is a diverging correlation between bond and s&p500 now. Looking at this post, we can see it very clearly. Larry Williams has mentioned this as one of the trading strategy.

Why? Because once the stock gets too expensive and bond gets to cheap, people will shift their money from stock to bond. And this is usually true. We shall see something will happen in a month or less.

This has also been mentioned in investment moat.

Evidence showing economy is going higher

Look at the the end of the line for every indices, it has shown that Asian market is moving higher with Shanghai and Hang Seng confluence with the market movement in STI. Not to mention, SPY.

20100403 world chart

20100403 world chart

Another good news, is the job data is improving. It seems to have reach the bottom for states.