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Let's get right to yesterdays action...
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SPX - I believe this is day 44 of this daily cycle. It looked like a bull flag going into the weekend, and it did break upward, but it is late in that daily cycle. I would expect a small pull back soon. These are very bullish markets.
Read More We have a Big weekend report, dealing with the BIG PICTURE, so let's get right into it...
SPX - This is usually a topping candle, a 'spinning top' on the weekly. The markets have been very strong, so a pull back would be normal. We'll see how this plays out next week in our daily reports.
Read MoreI want to do a quick market review, and then I have some very interesting charts of Gold & The Miners pertaining to the situation that we find ourselves in currently. I want to use this Friday report to further prepare us for what is coming in the Precious Metals Sector...
SPX - Day 42 is late for a daily cycle and I expect a pull back eventually, but these markets are very strong. Last weekends report pointed out that the 'weekly charts' looked to be heading into a parabolic run, and this week may close at highs again! 'Longs' just continue to take advantage of this never ending gift with a trailing stop 🙂
Read MoreThe VIX was Popping, the markets were dropping, and ...
DJIA - We just can't even get a 2 day pull back in this runaway move 🙂 A trailing stop still has you in this long position ( TQQQ, UPRO, UDOW, ETC). If we do get a sustained pull back, it will likely be a very good buying opportunity.Day 41 for the Dow is getting late.
Read MoreThere is an old saying designed to help us avoid being fooled into believing that something is anything other than it really is. Maybe you are familiar with that saying, it goes like this...
“If it walks like a duck, quacks like a duck, looks like a duck, it must be a duck”
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I think that this saying can also apply to a Bull too, or even when it comes to a Bull Market run. Whether it is short term or longer term, a Bull Run should be treated as one until it no longer looks like one. Another helpful saying in this regard has been , "Never short a Bull market". Let's discuss a number of Bull Markets on the run here...
SPX - Well nothing has changed here and this is a weekly chart. This is a bull market and anyone trying to short this has been trampled down.
SPX - I have recommended just using a trailing stop to be able to continue riding this Bull ( UPRO, UDOW, TQQQ, ETC), and with these shallow sideways pull backs, the ride continued to another week of new highs.
Let's take a look at the DJIA too...
Read More The way the various sectors of the markets have been playing out, I would say that there is something out there for everyone. We have 'short term trades', 'longer term set ups', 'trending runs', etc.
Note: Today is Friday, the last day before another 3 day weekend in the U.S. Markets. You may want to keep that in mind as you decide what you do or do not want to hold until Tuesday.
Read More We will discuss the Miners and the current pullback after a quick review of various Market Sectors.
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SPX - This is often a topping candle, a reversal , but lately the SPX just drops down to the 10sma and may fill some gaps if it does.
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