83% of big daily advances occur below the 200dma. –Trivia Dept.

3 straight days the Spoos have traded more than 100 handles off the highs good times

Another day, another downside gap at the opening. #$SPY would have to rally to 644.82 and #$QQQ to 573.43 to fill this morning’s gaps -- and #$QQQ still has an unfilled gap from yesterday at 585.69. How quickly the gaps get filled -- if at all – gives us an idea of how strong the underlying trend is.

#$SPY would have to rally to 654.24 and #$QQQ to 585.69 to fill this morning’s gaps. How quickly the gaps get filled -- if at all – gives us an idea of how strong the underlying trend is. Also, that 13-day ma has defined the short-term downtrend pretty nicely of late.

They've already been filled.

#$SPY would have to decline to 657.03 and #$QQQ to 587.93 to fill this morning’s gaps. How quickly the gaps get filled -- if at all – gives us an idea of how strong the underlying trend is… but if this morning’s gaps don’t get filled quickly they could be breakaway gaps.

Remember when people were fired for their lack of reverence when Charlie Kirk died?

A recent interview of mine is now on YouTube: www.youtube.com/watch?v=CcjK... The soundtrack's been dubbed because the facilitator was in Brazil. I don't really sound like that...

The important thing isn't that the market's oversold -- it's how the market responds to its oversold condition. Meanwhile, Thursday's gap was finally filled.

83% upside day at 10:30. Need two in a row to have any significance. UVOL/(UVOL+DVOL); Lowry’s definition. Data per wsj.com. See cmtassociation.org/wp-content/u... for explanation.

#$SPX closed below the Dec low and today's gap, unlike others recently, wasn't closed during the day. This isn't fatal yet (the Jan 20 one [dashed line] wasn't closed until the following day) but the bullish forces need to pull themselves together here to limit further damage.

A mere 66% downside day at 11:00. Has no significance. DVOL/(UVOL+DVOL); Lowry’s definition. Data per wsj.com. See cmtassociation.org/wp-content/u... for explanation.

Another day… another downside gap at the opening… and another test of the support at the December low. #$SPY would have to rally to 673.34 and #$QQQ to 605.03 to fill today’s gaps. How quickly they get filled -- if at all – gives us an idea of how strong the underlying trend is.

This is exactly how my pinned tweet works.

Bent bigly but didn't break.

And here's the gap. Would take a rally to 669.76 to fill it.

Stocks don't open for 12 more hours, but with futures -125 the S&P looks like it will gap down through the Dec. low; a low which became even more significant after Wednesday's bounce off its corresponding support. And if the gap isn't filled quickly it would look pretty ominous.

1/ Bears have more proving to do, as no cyclical top since 1990 has occurred in absence of NYSE new lows >4% of total issues. My 10-day average is meant to reduce false signals from the Vince/Williams “bloodbath sidestepping” rule described here: tinyurl.com/6tjt3567

Here we go again.

They very often end when something blows up.

Your occasional reminder...

The European financial sector has a healthier relative-strength profile that its U.S. counterpart. Thank you, Captain Obvious?

“Goodbye, Mr. Bond.” –Auric Goldfinger

From the earliest days of the Internet; still my favorite Christmas video: www.youtube.com/watch?v=CcDD...

Thank you!!

Industrial metals are breaking out (upper clip). Relative strength versus precious metals, not so much (lower clip).

Aaaaaaand scene $IRBTQ last trade 18 cents

www.amazon.com/dp/B0G8QB4G5... Another peek inside:

New book just dropped on Kindle! www.amazon.com/dp/B0G8QB4G5... 66 more insightful quotes from my 60+ years on Wall Street. Mostly my own — but from Helene Meisler, Larry Williams, Doug Kass, and Dave Keller, too. Not a "reading" book...an "idea" book!

Only one member of $SMH is negative since the S&P 500’s intermediate bottom on November 20: Nvidia $NVDA

Just Published! amazon.com/dp/099136829... 66 more insightful quotes from my 60+ years on Wall Street. Mostly my own — but from Helene Meisler, Larry Williams, Doug Kass, and Dave Keller, too. Not a "reading" book...an "idea" book! (Kindle version will be available next week.)

One of the coolest charts - the past 5 years in $AZO

Best chart on planet? #SL_F #SLV

Thrust watch. Whaley 5-day thrust requires 1280 NYSE net advancers in today’s session. Zweig 10-day thrust requires 1180 today, an average of 1020 today and Monday, or 950 on average through Tuesday.

SLV on the loose.

Only Fartcoin can save me now. 🤪

the credit default swaps continue to move up and to the right CRWV ORCL

My mentor in the markets always said foreigners and dentists are the last to buy.

Another A-D Line divergence bites the dust.

3/ Gold/SPX deflected at decade-old resistance near 0.65, increasing the significance of this threshold to my way of thinking.

Today's Miller Lite stat o' the day 1.26 the number of times the entire float of Beyond Meat (393 million shares) has traded so far today. Casino open.

Around the world in relative strength. Will major non-U.S. segments confirm their nascent reversals versus SPX? #WatchingPaintDry

$GLD has 269 positive mentions on r/WSB over the past 12 hours. The next 19-most mentioned tickers have 315 positive references <combined>

The current advance is youthful if counted from April 2025 but mature if counted from Oct 2022. A near-classic sequence of breadth washout, breadth thrust, price momentum, and breadth recovery suggest that April 2025 was in fact a cyclical reset. What would negate this thesis?

Nvidia and Apple contributed 58 basis points of the 46 basis points in total return for the $SPY today

Gold seems extended but could run further, if history is any guide. The millennial-decade bull market featured three run-ups extending >62% above 200-week trend. A 62% extension currently targets 3920, plus 50 points per month to reflect rising 200wma.

Will this bull market ever end? The 3 traditional reasons: 1) Fed tightening, 2) Rampant speculation (a la 2000), and 3) A recession. The Fed ain’t gonna tighten… and speculation’s not rampant a la 2000. But #3? Well, the stock market **is** a leading economic indicator...

74% downside day at 12:10. DVOL/(UVOL+DVOL); Lowry’s definition. Data per wsj.com. See cmtassociation.org/wp-content/u... for explanation.

To fill this morning’s gaps, $SPY would have to rally to 643.14 and $QQQ to 568.54. How quickly the gaps get filled -- if at all – gives us an idea of how strong the underlying trend is.