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BofA Warns, Big Trouble In Small Caps If This Line Is Crossed
US equity price action warns of trouble, BofAML's Macneil Curry warns. Since the start of this year, Tuesdays have consistently resulted in positive returns for US equities; but this week's failure to follow through with that pattern, coupled with the Russell 2000’s first close below the 200-day moving-average since November 2012, warns of trouble ahead.
Indeed, the Russell is dangerously close to completing a 4 month "Head-and-Shoulders Top". A close below 1099 is needed to complete the pattern, exposing significant downside to 1057 (5-year trendline), ahead of 988/975 (Head-and-Shoulders obj.).
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Big Trouble in Little China? i mean midtown
http://hedge.ly/W5B2M9
It stinks out there
if Nov '12 is any indication of anything, it's of a BTFD opportunity for BoAML who is asking you to sell into.
But the Dow
HA-Guy -- how come you are always the first to post?
Sorry, but I will not go to your blog
I try to avoid web sites with a "LIBYA" domain (.ly)
My screen is showing an odd shade of green for this time of day.
Again with the BofA research? Really?! One would almost think that you post this to encourage Bulls on your Bearish website.
It's all good...this will just make the 500th time they look like idiots.
You going to average down on whole foods?
is that a vagina soaked in gasoline and ignited?
Mr Chairman, get busy and put your HFT computers to work on the Ruseell 2000. Or are they too busy attacking gold and silver?
I know whenever i see the dow about to tank near the close I jump up and buy it. i presume everyone else did too...
in what universe are stocks allowed to fall?
When DXY has to be defended.
in what universe does the fed wish to defend the dollar?
It is the same universe where the dude that pulls the rug out from under you hopes that you don't hit your head too hard and die.
MZZ, QID, and SRTY is good now...bottomed out finally.
TWTR was the key on Tuesday with huge volume. http://finance.yahoo.com/q/bc?s=TWTR+Basic+Chart&t=5d
Today looks like dead cat bounce for markets.
because fundamentals matter anymore.
Which 200 DMA?
Simple, linearly weighted, exponentially smoothed, Wilder, geometric , triangular or variable?
And why not the 192 or 205 DMAs which take account of vacations and long nights in the bar?
Because all lemmings are watching the 200 DMA.
the good news is the market can go higher with every stock going lower. that is pretty cool.
Just like Gold and silver go lower , even though more and more of physical is bought. That also is pretty cool.
3:30pm ramp-up is gettin its fuel ready now...
Yeah, but it's increasingly just machines swapping stocks back and forth to one another, and institutions and funds doing the same. No value is being created and there can be no real profit unless they can get enough mom-and-pop muppets to buy.
TPTB don't like this.
Wall Street Channel Stuffing ? There is so much liquidity in the channels now getting blocked up, the bots migh burn-out their transistors as the melt-up melts-down.
Looks like NBI missed the 3:30 bounce.
Dropping into Friday...if this Ukraine and China thing keeps escalatin' and Putin instigatin' then Friday and Monday may be amazin'.
I mistakenly read your comment as "...just war machines swapping stocks back and forth..."
Sometimes the mistaken is correct.
Like one of those Russian TOPOL mobile launchers...
All this worry - and a war threat too - and "The Gold Price" is TOTALLY NON-RESPONSIVE.
Don't mention gold.
That dreaded stuff is what's causing the problems in the first place
the dow shot higher literally as gartman was on cnbc talking about how the market rally failed. The stock market is now a sarcastic guy.
Jack Lew and Yellen rush into Obama's office and say we need much more QE or else the system blows up.
Theft Plan #2.
Last 3 months : Retail Clients Buying buying from Institutional Accounts
Same old same old. Nothing to see here. Move along.
Big trouble when I start listening to bofa dipshits
yes. however 99% of the MSM dips read and follow these lemmings.
A sucker born every minute, right? Hard to believe with such a good educational system at such affordable prices...
And because ZH posted this the line will not,I repete the line will not be crossed! JY, KH
Note to financial advisor: How's my triple levered bull bio-tech startup pre-FDA drug development retirement fund that I bought last month doin'?
Janet Yellen said something today that seems to be overlooked: "Substantially lower" in reference to the FED balance sheet.
So is that numerically or is that purchasing power.
If it is about numbers and politics then its deflation; if its about power or numbers no one will care about then its inflation and a 70's "Goodtimes" redux, with an "Abenomics" twist.
Can you break the dollar and kill yield?
We will find out.
Send in the Volume!
under 1099, like just now?
BAML has not had the hot hand lately though.
Oh fuck! More pinks lines!
My chart shows this as the 3rd close below the 200 day average. He must be using exponential. (I'm using simple)
1114.86 200day simple.
To make good on all State Fed pentions: 401k, Ira,.... The fedor state must kill yield, pay off debt and debase currency.
If you were a twit with a .gov pension what would you do?
Seriously, how come nobody likes small caps?
Cue: Hindenburg Blimp music.
Do DU, do DU, do DU, Do DU, do DU, do DU, Do DU, Do DU, Do DU, Do DU, Do DU, Do DU, Do DU, Do DU, Do DU, Do DU, Do DU, Do DU, Do DU, Do DU,
How can we have a bear market with all these timely warnnings?
Note: The Dow still within tge confines of the triangle that began in 2000.
It is hard not to notice that last time the index traded below the 200 MA in Nov 2012 the index quickly recovered and provided solid gains for those who did not buy the doom and gloom arguments. It is hard not to notice that the billions of funny money the Fed prints are not going into Main Street, it is going into the financial markets. Looks like another buying opportunity to me.