Buy the dip? I would say that one might want to be careful when choosing where or when to enter this time. . SPX – It is day 27 and there is time to drop further, but we are also due for an ICL (overdue), so this could drop even further than many expect in […]
In the last few reports I have been discussing a good number of bullish trade set ups that have been forming after sell offs and consolidation periods. In some areas, the entire sector seems to be reacting. We will continue that discussion today. SPX FROM JUNE 23 – The bulls and bears are battling, […]
We have seen an increase in trade set ups and patterns following through the past couple of weeks, and it actually looks like this may continue for a while. Let’s review the markets and then we can discuss that… SPX – Fridays report – We could dip down and back test the break out. […]
SPX – We are really well along in the entire intermediate cycle, so I would expect this daily to top and become L.T. and begin to drop. We are overdue for an ICL, but these markets have just been pure bullish.
This was my IBB Weekly chart on June 20th. It is breaking out in bullish manner ( It hit 316 yesterday) and has the potential to get to 330 in a few weeks. The daily chart could back test the break out or it may just bull flag and continue higher. I will discuss […]
So far, The SPX has put in a swing high every 4 days or so, 🙂 and here we see another one. Since we are getting late in the intermediate cycle, and since we are on day 22 of the daily cycle, I am watching each swing high as a possible top. A break […]
On the weekend, I used this chart to point out that the NASDAQ did find support on the 10 weekly MA. This is often an area that holds as support, so would the markets move higher from here? The markets did move higher, and I would use recent lows as a stop.
I posted the following 2 charts in the weekend report as a reminder of a few trade ideas that we are currently watching. I have a few more that I wanted to add before the market opens… NAK – we have been accumulating this on and around the 200sma for months. Friday mornings report […]
On Friday we saw some nice follow through on a few of the recent trade set ups, but Let’s start by discussing the markets after the Fed decision on Wednesday.
Just a quick report this morning, because today is Friday and it is the last trading day of the week. NASDAQ – Yesterday I was watching this slight push higher after the sell off, just in case it was a bear flag. The 50sma would be watched for support or failure. QQQ- About […]
