Archive for category: Premium

The Stock Market involves real money, so it's by no means considered just a 'game', but similar to many  games, we have a few choices when we take a position(s).  If, over time, we find that things are getting a little rough ( the markets may get choppy for example,  or players may get banged up), we still have choices.

    3 basic choices are:

1. We can exit the playing field (sell) and head for the sidelines to avoid all  of the choppiness.

2. We can stay in the play until we get 'stopped out' or are rewarded with a move higher

3.  Just wait on the sidelines and see how the game plays out for a bit as a spectator, and look for a better time to enter

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It is the Last day of the week and the Elections have passed, the somewhat non-event of the FOMC Meeting has passed, so now let's just take a look at what we have going on...

SPX - We had a slight pause on day 8, so I have just drawn in a possible dip to an inverse H&S at the 10 sma as support.  This is just hypothetical.

However here is another reason that I think we may see a drop in the General Markets....

It has been difficult trading or investing for the Buy & Hold group.  October was a drop into our ICL , and it was a deep one.  Since then, we have seen a lot of choppiness heading into the U.S. Elections.  Markets do hate uncertainty.  Now that that will be behind us, we still have an FOMC Mtg scheduled for Wednesday & Thursday of this week, so unless we get a strong reaction higher when the results of the elections are released, maybe we should just expect a bit more choppiness .   Let's review our market sectors...

SPX  - After an A-B-C type sell off , this looks like an ICL is in place and we are on day 6.  Resistance is right above, so the elections results could push price through.  Markets do not do well in uncertain times, so the post election results could help the markets.

When you take a look at the weekend reports charts, you will see that we have been buying in areas  that went on sale recently.  To The Charts!!...

SPX WEEKLY -  We have our weekly reversal in the General markets.

Let's discuss this further...

SPX DAILY -  Yesterday I mentioned the day 52 lows,  the 'last engulfing candle' and probability of a low forming here.   We did get follow through higher on Wednesday.

SPX DAILY -  We did get a pop higher.  It sold off into the close, but I still feel that this is a valid break higher for a dcl. It may drift lower along this trend line and fill that gap though.

SPX WEEKLY 1 of 4- We have a weekly reversal.