Best Fit

Lets review some charts and examine what possibly fits next weeks possibilities.

SPX chart from  March 11,  looking for a buy point


SO where does the SPX stand now?...

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   Yesterday at 7 a.m. I saw that  the futures for the DJIA, SPX, and NASDAQ  were green, but I said that I expected them to would sell off and close red for the day.  They did. What about now , the futures are Green again pre-market,  Are we due for a bounce?  Lets look at some charts...

March 9 , QQQ looking for more downside. Notice the yellow dotted line and blue trend line break out


Lets look at the various markets  as of yesterday ...

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Patiently Waiting

As mentioned in the past, there are times when the markets allow us to see clearly the direction they want to head in  for a sustained period of time, and at other times it's just not that clear.     Often times when the various markets are changing direction, price gets a little choppy.  Entering trades during that period can be frustrating too,  since  even good set ups may work for a day  or two , only to fail the next.  Unless you are a day trader , then that leads us to this conclusion for traders who want to buy & hold positions for a week or two - Sometimes it's a good time to be trading and at other times it's best to just try to be patient.

Futures are currently higher in the DJIA, SPX, and NASDAQ, is the pullback over?

Yesterday , I was looking for a deeper pullback


Yes, the futures are green, but is it just a bounce?  Notice what I wrote on  the following chart of the QQQ's...

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