May 1 Weekend Report

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Week after week we are seeing very good action and even fairly clear predictability in the various sectors. We have experienced some great gains in Miners, Energy, and Commodities for all of 2016.  I have to keep reminding myself, and so I want to remind the readers here too, that pull backs and corrections are expected and keep a market healthy. Lets review our markets and discuss that idea further. 

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I'll start with the NASDAQ WKLY  - The NASDAQ hasn't been as robust in its recovery as the SPX.  It almost looks to be rolling over,  so lets keep an eye on it.  

NAZ 4-29WKLY

The SPX Daily  began  rolling over, but I see bullish signs too. Remember that corrections and pull backs can be healthy.  Is this a healthy pull back?

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April 28 – What About The Obstacles?

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We have goals and we want to reach are targets, but often there are obstacles that can pop up along the way.  Can we still reach are targets along the way.  Yes.  Lets do a quick market review and discuss our current trading. 

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SPX - I noticed a couple of days ago that the NASDAQ was selling off, but the SPX & DOW were holding up. Now the SPX started to sell off. The stochastics shows that it can fall for a while. I'm watching a few support areas.  We'll discuss this more in the weekend report.

SPX 4-28  

NASDAQ -  The downtrend from the MAY 2015 highs is still in place. Lower lows and lower highs so far.  On this chart I am pointing out that when the NAZ broke down last fall, it broke through the 200sma, but the 50sma was not violated.

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Make Hay While The Sun Shines

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A farmer has to take advantage of the opportunity to make hay when the sun shines. If he has other things to do, they'll have to wait for a rainy day.  He cannot make hay on a rainy day.  A trader or  investor has to invest when the 'set ups' are ready. If the low risk set ups have presented themselves, and he or she decided to pursue something else for a while, by the time they return,  the opportunity may be gone.

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With that in mind, lets make some Hay today.

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WTIC - Think about this. Last week I pointed out that OIL would move higher, but it is in a resistance area.  It could struggle a bit. There is good news with this...

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