Just A Minute

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Fed Minutes are released today. We have seen a few sideways moves in various sectors, maybe this will be a catalyst for a directional move.

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SPX - If you re not long or short, don't jump the gun. After a long consolidation, the move can be prolonged, and I have actually been expecting a dip into a dcl. I dont think that the early Aug dip on day 25 was enough.

  SPX 8-16   Read More

The Eye Of The Beholder

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Not much has changed since the weekend report, and we are still seeing once semi-ugly charts becoming diamonds in the rough. Let's review...

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SPX -  I personally took a long trade after calling the ICL in June  ( And pointing out the 3 white soldiers very bullish pattern),  I didn't stay long  during the long sideways move started getting drawn out.  I still expect a dip soon into a dcl, though this break out does have an occasional pop higher out of the sideways consolidation.  I think you are looking at 1-2-3-4-5 completing for now.   It may become a buy the dip in the future.

SPX 5-15 Read More

WEEKEND REPORT Aug 14- TORN

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The past few weeks of trading have been very good. Active traders have been able to find set up after set up, especially in Miners and now Energy. Some that Bought Miners in late May and Early June are still reaping rewards, and we have been looking at Energy trades for the past 2 weeks too. I am just a little torn about what I am seeing in some areas.  For example, The General Markets broke to new highs and consolidated, but the VIX is very low. Also I've mentioned the  lack of follow through in Golds Pop at the open for the last 3 days, etc.  Lets go through our weekend update and review our weeks activity.

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SPX - After a long sideways consolidation, we had a pop and basically more consolidation.

SPX 8-12

The Markets should have a strong move after such a long consolidation, but so far they are just continuing sideways and the VIX is at a point that usually ushers in a temporary top. Cycle-wise, we are due for a DCL soon,  so I'd expect that we get a drop soon.

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SPX WKLY - That drop could back test the break out or the 10ma.

SPX WKLY 8-12 Read More