Friday Oct 19th

I love Rocky Road Ice cream,  but Rocky Road Trading?  Not so much.  My last few reports have mentioned that even though we do have a 'low risk entry' for Buying at a swing low in the General Markets and some other areas, stops are a must. It is not a confirmed swing low, and we have volatility and choppiness, so buying the swing doesn't necessarily mean that it will be an easy ride.

In fact, yesterdays report was entitled :  'It Is Still A Rough Ride.'  Going into the last day of trading  for the week, lets review Thursday and see if this proved true.

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Yes, it proved true - The Dow was down over 399 points and the NASDAQ was down 184  when I captured this in the afternoon...

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SPX - I also mentioned that similar to February and March, things can be choppy around this 50sma, even with a swing low in place.

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October 18th – It’s Still A Rough Ride

The release of the FOMC Minutes really didn't seem to have any meaningful or lasting reaction in the markets.  It may have added a little knee jerk reaction or volatility, but overall there was no big directional change.   Let's take a look at our markets, and again, there really are no major changes from yesterdays report to discuss, but we'll still review what we have...

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SPX - I have been looking for a steep drop and an ICL.  We have that steep drop and a reversal after the 200sma was taken out, so this could be a shake out.  It is a swing low, and yesterday I said that this could be bought ( TQQQ or UPRO, etc) however...

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September 17 – Slidiing

Note:  FED MINUTES are released at 2 p.m.  Wednesday.

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The General Markets stopped sliding, yet 1 day before medical & recreational marijuana is to be legalized in Canada -  Pot stocks decide to slide.  Is it going to be the typical  "Buy the rumor, Sell the news? " in that sector?  Is the rally over?   We'll take a look at that too.  Lets take a look at the market action...

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NASDAQ - This ICL drop was steep and broke the RSI below 30, unlike  the Feb & March drop.  This reversal could be bought at a low risk low,  but ...

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