VIX Hits Almost 6 Year Lows, Complacency Replaces Fear

24/7 Wall St.

Stock Split ImageThe Volatility Index, AKA the VIX, just hit a 52-week low. Make that a multiyear low, all the way back to April of 2007. Is the “fear index” showing a market that is overly bought and ripe for a correction? It may just be signaling that we are in the midst of one major rally that can keep running and running. The move we are seeing is being confirmed by the iPath S&P 500 VIX ST Futures ETN (NYSEMKT: VXX). This exchange-traded note is also at a 52-week low.

Some market observers may start to say that this alone may be marking some seriously overbought territory for the broad stock market. 2013 has been a great year for stocks with record inflows for the first two months of the year. The problem is that as the VIX gets lower and lower it signals extreme complacency. The good news for the bulls…

View original post 256 more words

Dow Jones 8 Mar 13 (Daily)

DJI I 8 Mar 13 Daily

Dow Jones has been bullish since the start of the year without and significant retracement. Perhaps it is time for profit taking soon. I would think that there is a strong resistance at level 14,450 +/- 50 points. The index has surpass its channel. If it meets with resistance at level 14,450 +/- 50 points and resisted, it may come back into the channel and perform a good retracement. Let’s watch out for it !

China’s Exports Surge in February: A Sign of Global Economic Recovery?

24/7 Wall St.

cargo shipChina’s exports jumped in February, which may indicate a recovery of the economy across most of the rest of the world. Or it could be that inventories of goods are low in many nations and have to be restocked.

According to UPI:

China’s February exports, spurred by demands from the United States and other markets, rose 21.8 percent annually to $139.37 billion, a government agency said.

In a further demonstration of China’s strong recovery in its foreign trade, the General Administration of Customs said Friday imports fell 15.2 percent year-on-year to $124.12 billion, yielding a monthly trade surplus of $15.25 billion.

In February of last year, China had a trade deficit of $31.98 billion.

The agency said, however, the numbers would be different when making allowance for seasonally-adjusted factors such as four fewer working days in February due to the Spring Festival.

View original post

STI 7 MAR 13

STI_7 Mar 13 Daily

Due to good news of Dow Jones, Asia market was lifted for the past 1 day. It has somehow halted the retracement/ profit taking and invite a buying volume. I would say the price is still consolidating and will be bounded by its resistance at 3,320-3,340 (inside the bigger channel) and its support at 3,160-3,170. Investor has to be patient and see how the index develops before opening a trade. I will only enter either when it is at its support or when price break out from resistance (3,320 – 3,340 or upper channel line) with strong momentum. At the moment, some stock counters rebounded while some still displaying reversal patterns.

At the moment, it seems to me that the market is moving sideway with no clear signal.

DJIA Crosses 14,200 to New All-Time High! More Gains to Come

24/7 Wall St.

Wall St Bull statueThe Dow Jones Industrial Average has now hit a new high, and it did it on a day where there is actually very little news acting as the driving force. The prior closing high was 14,164.53 from October 2007. The intraday highest price was 14,198.10 at the time. Now on Tuesday you know what the deadlines will say in every print edition on Wednesday.

DJIA HITS NEW ALL-TIME HIGH!

The DJIA is up more than 75 points after the market open and is at 14,219 this morning. Our readers should not be surprised at all by the new high. We have been calling for unofficial upside to our 14,590 target we set as the peak DJIA price for 2013.

We have not yet issued a DJIA 15,000 alert nor have we formally lifted our price target to that level. The key word is “yet,” but we are in no real…

View original post 107 more words