Guy Ortmann is Senior Technical Analyst and Director of Research at Scarsdale Equities, a boutique investment banking firm in New York. He is a  Chartered Market Technician as well as  a registered fundamental research analyst  (series 86, 87, 7, 63, 24) with almost 30 years of  experience on Wall Street.Expand

His technical research involves general markets, sector specifics and individual equities, that have been noted in  Forbes, Reuters, Dow Jones Newswire among other publications.Collapse

Risk remains high and warrants a cautious, negative outlook for the near term.
If the economy were improving, they would be quicker to respond than large caps.
Analyzing an unconvincing bounce.
Finding bullish and bearish reversals in the market.
Down volume surpassed up volume, suggesting demand was not as strong as the indexes implied.
The near-term outlook turns negative.
The forward P/E of the S&P 500 is back near historic highs.
Finding bullish and bearish reversals in the market.
However, it is not actionable, in our opinion, unless support is violated.
The pattern is describing an erosion of breadth.

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COST is beginning to firm up near the $150.00 area. The stock bottomed here at last December's lows before exp...
We like this move today on good turnover and strong option flow. BOUGHT FCX OCT 15 CALL AT 1.04
View Chart »  View in New Window » So far we are holding key support in this one.  Target...

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