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I dont always do a Friday report, but things looked fairly interesting today in various markets. There is uncertainty in the waters below and it may be up to the Friday Jobs report to set things in motion. May the picture above emphasize the need to honor stops so we can trade another day .
$TRAN- We've discussed the Dow Theory and "sell In May" concepts. Will Fridays jobs report bring recovery or sell off?
The TRAN also made the 50/200 Death cross.
Lets look at the SPX...
Read MoreI want to show you the chart that I had in my morning report for OIL Wednesday . Please notice that it says that OIL may pull back to either the upper trend line or $59.34. It also could pull back to the 50sma in this consolidation and be perfectly healthy...
So what did OIL do Wednesday and what does it mean? ...
Read MoreLets get right to it, this was a BIG move Tuesday...
$USD
Read MoreJust a quick update -
Read MoreIf you have been trading certain Biotech stocks, the markets have been exciting, but if you're watching for a directional move in many other areas? Its been a little boring, maybe a little frustrating. Lets look at the charts...
SPX - Sideways for most of 2015 really. Frustrating for many. Give me a break (out or down please) 🙂
Read MoreThis weekends report will show what the Charts have to say about the health of various markets. Just like any living breathing thing, we can go from healthy to sick , from strong to weak and visa versa. What we will see can change, but this is what I am seeing at this point, based on the charts ...
The DOW JONES INDUSTRIAL AVERAGE - Selling down with a MACD cross, volume picked up on Friday
So lets look at the DJIA WKLY chart...
Read MoreCharts - Charts - Charts! It's Friday and I just wanted to post a few charts that look interesting . I am not talking about buying and holding for a month, some traders dont even like to hold over the weekend with Greece and other geopolitical issues out there. Today I am talking about what look like trade set ups / reversals and so on. Buy one or two , or put these on your watch list to possibly buy a pull back . We had reversals yesterday in OIL & Metals. I liked them because they can be trade-able. I bought as mentioned in the chat / comments area, but is it long term or short? Just a quick trade or more? I'll discuss that this weekend. On to the charts ...
$WTIC- small bounce or lows?
What about NATGAS?...
Read MoreIt certainly looks obvious that various sectors are starting what could be a significant decline. I pointed out the VIX and the elephant in the room last week, indicating that one should be coming, it was just a matter of time. Lets look at the charts ...
In this chart of the VIX I was pointing out that tops (maybe just temporary ones) often started with the Vix in the 12-14 area. It also did a reversal Friday
So this is what has transpired...
Read MoreI was away from my desk Friday and upon returning to the charts on Monday, I am seeing some changes that I want to discuss. Lets start with our regular market review. Lets take several views of the markets, both bullish and bearish, while remember that ELEPHANT IN THE ROOM discussed here last week.
SPX
But we keep this in mind too as we remember that Elephant in the room...
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