Good morning. Happy Wednesday. It was stated yesterday the market was starting the new week on an edge, and it looks like the edge has given way. All the indexes broke support; several are at their lowest level since the Nov lows. It appears as if 5 weeks on consolidation has resolved down. We’ve been […]
Before the Open
Good morning. Happy Tuesday. Hope you enjoyed your extra day off. We enter this week with the market sitting on edge. The indexes broke down last Thursday but recaptured support at the end of the day. Friday saw slight selling pressure, so once again the market sits on support without much room for error. Every […]
Before the Open
Good morning. Happy Friday. The bulls continue to defend their territory. Rallies have been getting sold for months, and for the last several weeks, the bulls have held the line on every sell-off. There are many cracks in the damn, but so far, it hasn’t broken. Here’s the 30-min SPX chart. A lot of bad […]
Before the Open
Good morning. Happy Thursday. The market seems to be just barely hanging on. Yesterday I showed the SPX trading near support of a consolidation pattern that forecasted a move down to 750 or the high 600’s depending on whether the size of the pattern or move into the pattern was used to measure the move. […]
Before the Open
Good morning. Happy Wednesday. So here we are at a key level for the market – yes there seems to be many of them. For the last month, dips have gotten bought and rallies sold. Yesterday I said it would be nice if support was tested again because that would allow the consolidation pattern to […]
Before the Open
Good morning. Happy Tuesday. Heading into yesterday, my very short term bias was up, but with complacency high and the fact that every other bear market rally was sold into, I wasn’t going to get carried away with playing the upside. Yesterday resolved nothing. The market closed where it opened – an equal battle between […]
Before the Open
Good morning. Happy Monday. Hope you had a great weekend. I’m going to change what I do for the premarket comments. For the past few months I’ve somehow gotten a little off course by becoming very news headline oriented. I would spend a lot of time typing up headlines knowing they weren’t nearly as important […]
Todd Harrison says the S&P 500 could hit 1000 this spring
Here’s a video from tech ticker featuring Todd Harrison of Minyanville.com. He says the S&P could hit 1000 by spring, but it would still only be a bear market rally. Todd Harrison
January Stock & Option Set Ups
In this video we cover many of our stock and option set ups from January. January Stock & Option Set Ups
Before the Open
Good morning. Happy Friday. First a quick personal note. I may temporarily suspend sending this Before the Open document out next week. My 13-week old twins are sick and need constant attention and daily trips to the doctor. It’s fairly easy to trade around their needs, but right now taking care of them is more […]