December 5th – Don’t Stay Too Long

/130 Comments/in /by

As mentioned last week, we want to keep some of our open energy trades on a short leash. They were up 20% or so, so after a brief market review, let's take a look, take some profit, and not overstay that welcome  🙂

 

SPX  - We saw a large doji candle on Friday ( indecision) and on Monday the markets Gapped open on the hopes that a Tax break will help business, but then it sold off. Am I bearish? No, this is day 12 of a bew daily cycle and the move higher was steep, I think we may just drop to the 10sma & my trend line, or go sideways,,,

Read More

Weekend Dec 2

/105 Comments/in /by

SPX WEEKLY - Still Bullish?  Yes, quite. On a 2 year chart we see that the SPX formed an uptrend channel, and when it got a bit overenthusiastic  ( over throw), it immediately sold off and closed back inside.  Currently it has closed outside (above) that channel. This can create a steeper incline if it doesn't close back inside next week.

That can lead to more of a parabolic move, and...

Read More

Dec 1- Buy Day Friday

/117 Comments/in /by

Friday is the last trading day of the week, so let's just look at a couple of the important things and some possible buy opportunities.

  Read More