Tuesday August 8th- Stretching Out

In some areas of trading, we see stock picks and stock trades stretching out nicely, and in other areas we see 'cycles' also continuing to stretch out, so lets examine both today.

 

SPX - I do not think that day 19 was the peak and the daily cycle low of the daily cycle, so that would mean that we are on Day 26.  This could pop and run a bit higher, but it is probably going to drop to the 50sma area for the next dcl.

NASDAQ - The NASDAQ got above the 10sma, and that it bullish, however I would imagine that it is only good for a short term trade.

 

And this is the reason why...

Read More

AUG 7th WEEKEND REPORT 2

In part 2 of our weekend report , I wanted to provide a few trade ideas for our traders. I am still seeing some very favorable looking set ups, with low risk entries forming.  The big warning that goes with these is that we are in earnings season and we are seeing surprises both to the upside and down. Some of these companies have their earnings behind them already, but please be aware of when the others are to be released.

Read More

Weekend Report Part 1 – August 6th

Let's review the market action from last week, and see where that puts us.

 

 DOW 22,000 was the big deal. The NASDAQ had its day in the light, and now it has been consolidating as the DOW & SPX have been moving higher.

DOW WEEKLY -  However , is the DOW getting a little ahead of itself too?

 

Let's have a look at and discuss the SPX & NASDAQ too

Read More