Good morning trading addicts. Yes, if you’re reading this you are likely an addict. With the market closed tomorrow, it’s not likely to do anything today. You really don’t need to be here. Nevertheless happy Thursday. 🙂
The Asian/Pacific markets closed mixed. China dropped 2.8%, Japan 1.3%. None of the markets rallied 1%. Europe is currently mostly up. Austria and Greece are up more than 2%. Amsterdam, London and the Czech Republic are also doing well.
The dollar is down slightly. Oil and copper are down a little. Gold and silver are down.
Banks in Cyprus opened, and thanks to the limit on how much can be withdrawn each day, there have been no signs of people desperately trying to withdraw money. Things are orderly, and the market generally likes it.
Here are the daily charts. In all cases, small consolidation patterns within solid up trends are forming. So far the market is correcting with time instead of price. That means instead of pulling back, the indexes are moving sideways to accomplish nearly the same objective. I wish we’d be a swift move down to shake out some longs, but there’s no sense hoping for anything. The market doesn’t listen to such requests.
The market has been very boring lately, but we’ve had many rock solid set ups to play. Most of the Long List has done very well. It’s a testament to entering the best set ups letting them go. For many traders, thinking too much will cost you money. Play good defense today (if you’re here), and enjoy your day off and long weekend.
headlines at Yahoo Finance
headlines at MarketWatch
today’s upgrades/downgrades
this week’s Earnings
this week’s Economic Numbers
0 thoughts on “Before the Open (Mar 28)”
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“With the market closed tomorrow, it’s not likely to do anything today.”
As a contrarian I can’t think of a better reason to trade. The gap up today will be a great short.
Scratch the last comment. There will be no gap up so I ain’t trading either.
KNOW URSELF-YOUR OWN MIND SET
i am a proud adict,i enjoy the emotion ,the trils,excietment of live day trading,rather than watching some boring trend or sideways chop
the only reason im flat atm is because my tick indicator is hovering at the nutral line indicating a cherning market
but im watching the charts with one eye as i watch a movie on t.v
why—
because i saw a flock of canaries going by
they are employed by the bears to hover over their prey,alowing the snipper bears to pick of the fat bulls one by one untill the comando goriller bears arive in army force
there are many canaries in the caol mines atm and indexes one by one are rolling over and droping off
soon the gorilla bears will get usa
go to redlion trading click on tick ind or ask pattern trapper
i trade in pajamas
Strong gap up Monday = Short. Anything else walk away.
Sure will be glad to see the snow melt.
Sounds good where Jason is right now.