The Phone Lines were ringing off the hook!!

Well, to be honest, I got 2 requests on the Markets in general, but they are just as important to me Thumbs up animated emoticon The Question was , "Did you see a pullback in the Markets approaching and is that why you moved to the Energy Sector?  If so, what did you see?"   The answer is , "I did think the markets were toppy and in need of a pullback, and I expect a bounce soon, but It does not look like the downside is complete so far. (Recall my chart 2 posts back saying "Sell in May, Go away?"). The second part is , "No, I just entered the Energy sector because using tech Analysis, it was still 'set up properly'.  It also did withstand the heat recently."   Here is what I was looking at on March 21 . There was weakness in BOTH the weekly and daily charts ($1800 target?) $SPX WEEKLY   Read More

Did you “SEA” what I see?

While the Nasdaq was busy Selling off hard Friday, bleeding in earnest with high volume (See QQQ chart below) , and all the MOMO stocks like PCLN, AMZN,NFLX and other market darlings were being thrown overboard last week, something odd was also happening...   QQQ Read More

APRIL 3 – Too Much Of A Good Thing…

I dont want to overload anyone, but I look at so many charts and when I see what I think are  "Good probability set ups" or other "Interesting Ideas" & things to take note of, I'd rather give a variety of info and let the reader take what they want from it. Let me start with simply something to take Note of...and then cover some  trade ideas past & possibly future.   $NDX Weekly-  Is this a sign of "Sell in May and go away"?   With each "higher High" (Colored arrows) the MACD momentum matched it.   Recently,however,  we see Momentum waning. Since this is a weekly chart , we could rise for a few more weeks (into May) , but THIS CHART causes me to take note and keep an eye on the strength of the next rise.   NDX TOPPING Read More