Good morning. Happy Tuesday. So the market attempted to break out last Thursday but failed, and then yesterday it dropped to fill its June 1 gap up. The bulls are ecstatic one day and thoroughly frustrated shortly after. Here’s the SPX daily. One day doesn’t change the trend. We’ve had several of these scary one-day […]

Good morning. Happy Monday. Hope you had a nice weekend. Other than a brief breakout attempt last Thursday which the small caps didn’t participate in, the indexes remained in their consolidation mode. Here’s the weekly. It’d be nice to get some follow through to better solidify the breakout from the 4-week consolidation pattern, but resistance […]

Good morning. Happy Friday. If you look at closing prices only, yesterday extended the market’s consolidation period. But if you consider the intraday movement, most of the indexes made a definite breakout attempt only to get sold into and close below resistance. The large caps, mid caps and tech stocks made new highs. The small […]

Good morning. Happy Thursday. Yesterday was a wild ride, but in the end the closing losses were relatively small and the consolidation period was maintained. For 7 straight days the market has moved in a tight range. Each dip gets bought; each rally gets sold. There have been lots of day trading opportunities, and we’ve […]

Good morning. Happy Wednesday. For now the consolidation continues. Two Monday’s ago the market broke out, but little follow through has been seen. For 6 straight days the indexes have been range bound, but things will get interesting at today’s open. Premarket futures trading suggests a large gap up, so we’ll get a chance to […]