There was not a lot of change to report today, but there were some ‘significant’ changes that took place, so let’s take a look at what has changed… SPX – This weekend I mentioned that the SPX could go a little higher, but unless it breaks out strongly and runs, it looks to be […]
In some areas of trading, we see stock picks and stock trades stretching out nicely, and in other areas we see ‘cycles’ also continuing to stretch out, so lets examine both today. SPX – I do not think that day 19 was the peak and the daily cycle low of the daily cycle, so […]
In part 2 of our weekend report , I wanted to provide a few trade ideas for our traders. I am still seeing some very favorable looking set ups, with low risk entries forming. The big warning that goes with these is that we are in earnings season and we are seeing surprises both to […]
Let’s review the market action from last week, and see where that puts us. DOW 22,000 was the big deal. The NASDAQ had its day in the light, and now it has been consolidating as the DOW & SPX have been moving higher. DOW WEEKLY – However , is the DOW getting a little […]
If you were recently stopped out of TQQQ or UPRO, would you really want to start a new ‘long’ or ‘short’ position on a Friday going into the weekend, with the NASDAQ on day 25 of its daily cycle?” Probably not, today is the last trading day of the week. Let’s take a […]
SPX – We see tails on the bottom of the last few day, so the selling is being met with buying. I would have expected more selling, maybe down to the 50sma, but this might have been a 1/2 cycle low. NASDAQ – The NASDAQ is still under the 10sma, and is showing ‘tails’ […]
There is an old saying that says, “Never short a dull market.” Why? Professional traders know that under the right conditions, a quiet or dull markets can suddenly break out into a strong move higher. I am going to discuss this a little later in the report, but right now, let’s visit a couple of […]
In the weekend report… NASDAQ – I was pointing out that the reversal on Friday after Thursdays slam down could be a false reversal. This would draw in the eager ‘buy the dip’ crowd, but they may get stopped out shortly after. I pointed out a similar slam & reversal in June, and it […]
With all of the detailed daily reports pointing out just about everything there is to look for, I like the weekend report to usually just be more of a big picture look at what happened over the past week and what we can expect going forward. Well, there is just too much that stands out […]
We all watched the markets slam down quickly mid day on Thursday, and then they rebounded back a bit as the day went on. Bungee Markets are not all that fun to ride, so let’s take a look at our Thursday trading…
