Tuesday Jan 29th – Hang On

/in /by

When a trade is acting correctly, sometimes we just trade out of them after they hit an estimated target, and wait to see if they pull back and offer another entry point.  In some set ups, however, if the run looks really bullish,  I  may just encourage  selling a portion on the way up and trying to Hold On if you can. I will explain that a bit more later in the report, after a brief discussion of our markets...

 
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SPX -  Last week I mentioned that because of the rising wedge, Price may need to crawl sideways along the 50sma as shown  (XYZ) to form more of a channel.

SPX -  So far it has done just that.   It is day 21, and I feel that we could still run to the 200sma and then 'peak' and drop into the dcl. 

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The January 26 Big Picture Weekend Report

/in /by

We had another very active week of trading, and opportunities were wide ranged for traders and the short term Buy & Hold investors alike.   Trading has been excellent and profitable for weeks now.   Let's take a look at The Markets and future expectation...

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SPX WEEKLY - The run out of the December ICL has been a sharp rally with a slight pause this week.  It should continue to the 50 weekly ma  (Blue line) over time. 

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Jan 25th – Even More Hope Ahead?

/in /by

After avoiding the stormy waters of the sell off in October through December, we had the hope of a nice rally out of the ICL , and some good trading opportunities presented themselves.  I have mentioned the importance of watching how the first daily cycle unfolds, and especially the 2nd daily cycle.  Well, we have some 'things' to look at that add hope that the current gains may continue for a while longer...

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Just yesterday I said and drew these two things about the market...

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