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NorthmanTrader

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The Sell Side Merchants

As the $RUT is failing to recapture the 200MA yet again and the $SPX continues to diverge high above it I note a barrage of sell side merchants hitting the airwaves assuring the investing public not to worry. Yet trading volumes keep dropping with yesterday reaching the lowest trading volume of the year so somehow they are having trouble convincing the public to keep tossing cash at this market. And that’s a problem […]

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Utility Check

I’ve been watching ($XLU) the utilities for a few weeks now as they were the safety trade while small caps and tech corrected. Yet the similarity to 2013 is eerie and hence I keep watch their behavior. Today markets are bouncing ignoring global weakness yet $XLU keeps steadily following the 2013 script which foreshadowed a quick correction in the May/June time frame:   The week is young still, but key weekly MA’s […]

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Weekend Charts: Quo Vadis?

If you haven’t read the letters by Seneca the Younger I highly recommend you find a copy and do. Amazing writing that highlights key philosophical thoughts on life, death and society by one of the key eye witnesses of Roman history at a time when Rome was going through major turmoil. Seneca was an advisor to both Caligula and Nero and ultimately got caught up in Nero’s paranoia and was forced to […]

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Dealing With Rejection

There’s probably no polite way to put it so I’ll just say it: Those that positioned long into new highs on Tuesday were wrong and those that sold and stuck to their guns were right. Obviously selling the strong bounce Friday into Tuesday was the hardest trade as markets had just simply levitated to new highs so many times before. So it was tough, I get it and I could feel the tension as […]

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The Weeping PreTeen $VIX

Oh here we go again. The $VIX is broken, there is no more risk, and nothing will make the $VIX grow up again. On the surface all the collective weeping about the $VIX makes sense. Relentless selling day after day has pounded it back into the pre-teen levels. Since April 14 there have been only 3 green volume days for the $VIX. No matter what happens with the $RUT, Ukraine, […]

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The Day the Market Died

Markets made new highs on 0.1% retail sales and then went into cardiac arrest and completely flatlined. Yea I know this sounds bizarre but this is literally what happened. You saw me make fun of the $ES action yesterday which bounced and bounced and bounced off of the same level over and over as shown here on the $SPX below. Buyers are simply not stepping up to the plate and sellers lack […]

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