Good morning. Happy Monday. Hope you had a nice weekend. I’m going to feel like a broken record here because it’s the same tune I’ve been singing for the last week. The trend is up; new highs are made every few days; dips get bought; there are many great looking charts out there. But there […]
Before the Open
Good morning. Happy Friday. Happy Options Expiration Day. The bulls are resilient, aren’t they? Every dip gets bought…new swing highs were registered again yesterday. It’s now been almost 7 weeks since the SPX lost ground for more than 2 consecutive days. Over the last week I’ve gotten less optimistic the uptrend would continue in the […]
Before the Open
Good morning. Happy Thursday. The market traded range bound most of yesterday until the last hour when it surged upward. Maybe the charts were painted, maybe they weren’t. In any case, the dailies don’t look back. One down day on Tuesday coming off a couple up days isn’t anything to be overly concerned with. I’m […]
Before the Open
Good morning. Happy Wednesday. Yesterday the market gapped down pushed lower…rallied to fill the gap…and then was weak all day. Premarket futures trading suggests an open at or below yesterday’s low. Is there reason to be concerned? This is what’s on my mind: The market has put in 5 consecutive up weeks (it’s due for […]
Before the Open
Good morning. Happy Tuesday. Yesterday the market was weak, then exhibited strength, and then sold off some into the close. In the end the indexes were largely unchanged. Here’s that SPX weekly I posted yesterday. The index is slightly struggling here near resistance while volume has fallen off each week, and although not easily apparent, […]
Before the Open
Good morning. Happy Monday. Hope you had a nice long weekend. Last Thursday all the indexes closed at new swing highs on pretty good volume. Many charts of individual stocks broke out last week and many more are sitting right at resistance. But we aren’t without warning signs. Most of the internal breadth indicators are […]
Chart Pattern Set Ups
This video covers some of our recent set ups and offers a few trading ideas for the near term. Chart Pattern Set Ups
Before the Open
Good morning. Happy Thursday. Happy Passover. Happy (almost) Easter. Happy last trading day of the week (the market is closed tomorrow). We entered this week thinking a big move was coming and instead have gotten a whole lotta of nothingness. The market was weak Mon and Tues and closed well yesterday. Volume has been very […]
A History of Bear Markets
Here are all the bear markets since 1950. A bear market is defined as a 20% drop off the highs. The current bear has been the steepest. …
Before the Open
Good morning. Happy Wednesday. I’m not sure how to read the action over the last two days. We entered the week with the market in a 1-month uptrend…it’s been 3 steps forward and 1 step back, and it’s been several weeks since the market has lost ground for more than 2 consecutive days. Now the […]