Tuesday August 1st

In the weekend report...

 

NASDAQ - I was pointing out that the reversal on Friday after Thursdays slam down could be a false reversal.  This would draw in the eager 'buy the dip' crowd, but they may get stopped out shortly after. I pointed out a similar slam & reversal in June, and it did not just take off higher...

 

 I have often mentioned in my reports when discussing Bull Market runs, that they are NOT as easy to ride as most think.  These long rectangles show that contrary to popular belief, bull markets do not just go up day after day.

NASDAQ on Monday-  Many buyers would put their stops under Thursdays low to minimize losses. You can see that if the markets start selling down on Tuesday, stops may get run, and that could also cause even more selling, possibly back to the 50sma.  That might be a good buy.

NASDAQ - I wanted to point out again that in both June & July, sharp drops followed by a reversal day  bounced around for weeks.

 

That said, ...

Read More

WEEKEND REPORT JULY 29

With all of the detailed daily reports pointing out just about everything there is to look for, I like the weekend report to usually just be more of a big picture look at what happened over the past week and what we can expect going forward.  Well, there is just too much that stands out to me at this time, so I will cover the bigger picture and some of the smaller details too.

 

SPX - I understand the "buy the dips' Theme in a bull market, but is every dip being bought profitable or easy to buy & hold? This week we saw a market slam down on Thursday, and Friday had a small reversal.  Was that 'Buy the dip" on Friday? Notice June 12th.

 

The timing on June 12th for that slam was also similar to this past weeks slam, and price went sideways to lower for 4 weeks into a dcl. ( Each 5 candles is a week of trading). Buying that dip made no money for  weeks actually.

SO NOW LET'S CHECK OUT THE NASDAQ ...

Read More

July 28th – Bungee Markets

We all watched the markets slam down quickly mid day on Thursday, and then they rebounded back a bit as the day went on.  Bungee Markets are not all that fun to ride, so let's take a look at our Thursday trading...

Read More