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SO MUCH TO WRITE ABOUT, SO LITTLE TIME. Today is Friday, the last trading day of the week, so a quick review and a discussion on a few trade ideas...
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3 SPX CHARTS
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SPX#1 - Thursday saw the Markets gap down, sell off, and then start to recover, so we get another 'buy the dip' reversal, however ...
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SPX - 'No Change' from yesterdays report. Just keep riding it until a trailing stop takes you out. This can keep riding the upper line higher for a while too.
Read More Again, not a whole lot has changed, but I am expecting some changes as we move forward. Let's discuss our current market set ups...
SPX - This looks the same as we have expected, but please notice the recent divergence. This usually calls for a pause , a sideways move, or a dip. Let's take a look at the NASDAQ and see what is happening there...
Read MoreOne trading day after the weekend report and expectations have not changed, except that almost everything improved, so let's take a look...
SPX - No change from our expectations
Read MoreThe various Market sectors acted as expected this week, so let's take a look and see how things continue to line up in a way that we can profit from.
SPX - The General Markets put in another high DCL, and we've discussed how the pull backs are more shallow lately and what that implies. This would only be day 7 of a new daily cycle. That dip was sharp , but shallow, so 'longs' may not have even been stopped out with a trailing stop. If one was stopped out, this sideways stall has allowed many to re-enter long positions.
Read MoreIt's Friday, there is only one trading day left in the week, so I want to cover a couple of questions that I get from time to time in todays report. I will do a short review of a few things first, and then I will just cover everything else in greater detail in the weekend report. For now, this report contains a brief review, a couple of trade ideas at the end, and a lesson or two in the middle.
SPX - No change here from our expectations. This looks like day 6 of a new daily cycle.
Read MoreEvery now and then the Markets give us a bit of a conundrum, and it takes a little extra time and meditation to get to the bottom of things. After the Fed Decision was released and I began to review the charts, I ran into that very situation. Lets discuss the markets and I will show you what I mean...
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DJIA - This is not the conundrum. We got a Gap open in the morning and then the markets sold off a bit into the close post fed. Nothing has changed here yet, this looks like day 5 of a new daily cycle.
Read MoreTrading was going rather smoothly recently in many areas. We were trading some Biotech, Steel, Copper, and Fertilizer stocks, and TECH stocks were also acting correctly. Suddenly this week seems to have turned various areas a bit choppy. We saw some Bullish Earnings for the big Tech stocks, yet other areas became a bit shaky. Take a look at charts of TGB and IPI and you'll see crazy shake out type moves that are not normal price action. On top of that, we are now on Fed Wednesday, so what can we expect? Well, the Oil and Energy trades still look good to me, so I want to discuss that a bit more. Let's also discuss how a Fed Wednesday could possibly affect other areas too.
This is a market scan on Fed Wednesday Morning - Just about everything is green really. Click to enlarge
Read MoreDid you know that this is a Fed Week? I don't think that anyone is expecting any changes, and so far, not much has changed from the weekend report. Let's have a quick review and discuss the Oil / Energy stock patterns too.
Read MoreLast weeks weekend report showed what the BIGGER BIG PICTURE expectations are. This weekend I want to cover the various sectors and explain in a short clear manner what the expectations in the near term are, going forward.
DOW - As mentioned last weekend, The weekly chart makes it clear that the DOW is not pulling back as much as it normally would during daily cycle draw downs into the Daily Cycle Lows. See the chart.
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