Trust Issues

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Let's get right into the weekend report, and I will discuss all of the sectors and why I chose trust issues as a theme.

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SPX-  Last weekend I had been discussing the expected rally and the potential that it has to be strong since price is near the highs, but the signals that I was getting was saying that it was near term lows ( DCL). Since the markets did form a pattern known as H&S,  I used this as one of my charts showing that we were at lows, not highs on a weekly.  Would we have a strong week?

SPX WKLY 5-20  

May 19 - I saw the H&S too, but I had trust issues with it playing out, because many other factors were calling for a rally.

SPX 5-19

SPX WKLY - That was a strong break higher and the SPX is actually heading to the May 2015 all time highs. If it breaks out from there?  I have prepared charts for that time already  🙂   It could get very bullish , apparently climbing a wall of worry, because all I hear is negative talk.

SPX Wkly 5-27 Read More

May 27th – 3 Day Weekend In The U.S.

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Not much has changed from Thursdays report.    Janet Yellen  speaks today and she possibly could shake things up with some dovish or hawkish talk, so we'll see how that goes.   And then all then traders in the U.S. will have a 3 day weekend to think about it.  Hmm

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If  you are heavily invested and you'd rather not think about it on your weekend off, you may want to lighten up.

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From Break Through To Follow Through

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Yesterdays report discussed some break outs that were taking place in various sectors.  Wednesday, we saw some follow through in those areas too. Just like a baseball player at the plate, when we get a decent pitch tossed our way, we also need to follow through to be able to possibly score.  Some may wait for a pullback or start a small position and add on a pullback later, since it is early in some set ups.  Lets review.

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SPX -  This is the follow through that we expected. We are only on Day 5 today, of a daily cycle that can last over 30 days.

SPX 5-25 Read More