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 […]

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 […]

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 […]

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 […]

Good morning. Happy Thursday. The Asian/Pacific markets closed mostly up, but other than Hong Kong (up 4.6%) and Japan (up 1.8%), no market gained more than 1%. The Chinese market was still closed. Europe is currently down across the board. Stockholm and Switzerland are down more than 2%. France, Germany, Amsterdam, Norway, Spain and London […]

Good morning. Happy Wednesday. Happy Fed Day. Today at 2:15 pm EST the FOMC will announce their overnight and discount rate targets. Normally this is a market-moving news item, but today’s meeting should be meaningless and irrelevant. They’ve already targeted overnight rates in the 0.00-0.25% range, so unless they say something like: “the credit markets […]