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The 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.
Read MoreNo big changes took place since the weekend report, but we do have quite a few charts to look at, so let's dig right in...
SPX - The markets continued higher...
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Looking at SPX, DJIA, and the NASDAQ at the end of the week, and we basically see the uptrend remains on track. Using a trailing stop has kept the 'longs' in the trade. Some are riding UPRO, UDOW, TQQQ.
I wanted to point out the VIX again, however...
Read More How timely was my article at the end of yesterdays morning report, discussing how sharply the Medical Marijuana stocks can sell off ? Holding those felt a lot like that ride in the opening Theme picture, but I am going to have a part 2 in todays report and discuss future buying opportunities in some of these companies again too.
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SPX #1 - There are a few reasons that I do not believe that we just saw a DCL 2 days ago. That means that I think we are on day 32, and we should still dip into a low soon. I pointed out the area of the green arrow yesterday as an example.
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