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SPX 1 of 3 - After the pause that we expected under the 50sma, the equity markets actually look ready to break higher already, so
I want to show you these 2 charts ...
Read More Monday s market action did not change the expectations mentioned in the weekend Big Picture Review, but the trading has been very good and most of the recent buy opportunities continue to play out. Lets do a Tuesday review...
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QQQ - We expected this pause and...
Read MoreThis is the weekend report, where we can monitor the progress that the various sectors of the market have made, and what we may expect going forward. Since I give a more detailed day to day update in the daily reports, I often focus mainly on the Big Picture in the weekend reports by using the weekly or Monthly charts. This week , however, I will start with the daily charts in a couple of the sectors, to include a close up of where we are now, and then we'll get into our Big Picture Outlook.
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QQQ Daily - We are pausing at the 50 sma, as expected. Will we go sideways or pull back? It really shouldn't matter, at day 12, I think that we should still break above the 50sma in the first daily cycle and maybe back test it on the dcl later...
QQQ WEEKLY - This is an area that POSSIBLY may eventually become an important topping point. We are watching this s things unfold. If the FED stops raising rates in early 2019, I wouldn't rule out that the markets can hang in there a bit longer. FED PROPPED. I still lean toward a H&S top though, with highs in place.
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