May 12th – It’s a Beauty

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That sunset sure is a beauty, and this chart below is also a  beauty to many of us that went long...

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May 11 – Trading

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NASDAQ -  The NASDAQ continues to climb that wall of worry. If you were long, a trailing stop may work out well, this is now another right translated daily cycle in a Bull Market.  As shown in recent reports, Some stocks are doing well with earnings, and others are getting crushed. Add NVDA & TSEM  to the 'doing well' group. Yelp & SNAP to the getting slapped group.

This is a reminder -  This was my My February thought showing a possible parabolic blow off top . The pattern is similar with a sharp sell off and then a ramp higher.

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May 10th – Changes

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We do see some changes occurring in the markets, so let's discuss them.  They may be just temporary or they could last for a little while, so we will discuss that too.

   

SPX - This was an engulfing candle, but they bought it back toward the end of the day. Could this be the start of the dip into a dcl?

IWM -  I like to use the Russell 2000 and the NYA to get a better picture of the general markets. We see the 2 gaps have already filled here, but the stochastics is still not oversold and therefore more downside is possible.

NASDAQ - The NASDAQ , which has been very strong, also seems to have put in a topping candle, so we could see some selling in the markets going forward.

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