Stocks | HED Capital Management

Dow makes a top extension, Nasdaq makes a compression. Look out!

March 19, 2021 Richard Edwards

The strange divergence between the three main US stock indices is about to resolve. We pointed out in the last edition that the S&P was range-trading, the Dow was trending up and the Nasdaq was in an (interrupted) downtrend. Now…

Commodities & a note on stocks

March 15, 2021 Richard Edwards

We have been sceptical of the prospects for more commodity strength. Here are the reasons, in descending order of time frame. Firstly, at a monthly scale, where bottom extensions in Spring 2020 signalled the end of the big drop. Since…

Stocks drop, top extensions in commodities, bottoms in bonds

February 23, 2021 Richard Edwards

US stocks are falling away from the top extensions shown in the Feb 10th edition and the drop is accelerating a bit. Here is an update: This probably means that the weakness we have warned about in equities has now…