FRIDAY – We Have Another Sign

 The Thursday report covered so much and the weekend report will wrap up the weeks activities, so I dont always feel the need to write a report on Friday.  There are actually a few things of interest to note since yesterday however, so I wanted to cover those before the weekend.  I'm going to start with...

OIL -  As expected, A productive & Trade-able bottom for now. More on OIL in this weekends report.


Moving to the markets ...

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Did You See It? Traders To Your Stations

Did you see what I saw yesterday?  I had mentioned in the weekend and daily reports  what I was looking for,  and by the end of the day I was fairly certain that we got what I was looking for . First lets review the markets and then discuss other sectors.

Again, I had been shorting the Nasdaq at prior highs using TZA, but I stopped last week and pointed out why last wkend...


What do I see now in the NASDAQ, SPX, and DJIA?...

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Buy The Dip?

At times we sell and stay out, conditions may not be setting up for a low risk buying opportunity.  At other times, however,  we wait patiently for the trade to come to us and then we Buy The Dips.  Are we in that position now? Some sectors are saying,  "Yes, you may want to buy the dip!" lets review several sectors first and then discuss what might be setting up as a good long entry.   To the charts!...

QQQ - this weekend I said I wasnt shorting this set up anymore at the blue arrows anymore / I saw internal strength


Yesterday we saw this


Here is what I am thinking...

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