Thursday August 3
SPX – We see tails on the bottom of the last few day, so the selling is being met with buying. I would have expected more selling, maybe down to the 50sma, but this might have been a 1/2 cycle low. NASDAQ – The NASDAQ is still under the 10sma, and is showing ‘tails’ […]
AUGUST 2 – A Dull Gold Market?
There is an old saying that says, “Never short a dull market.” Why? Professional traders know that under the right conditions, a quiet or dull markets can suddenly break out into a strong move higher. I am going to discuss this a little later in the report, but right now, let’s visit a couple of […]
Tuesday August 1st
In the weekend report… NASDAQ – I was pointing out that the reversal on Friday after Thursdays slam down could be a false reversal. This would draw in the eager ‘buy the dip’ crowd, but they may get stopped out shortly after. I pointed out a similar slam & reversal in June, and it […]
