Good morning. Happy Thursday. We entered this week with our bias to the upside but thinking a little backing and filling was necessary to allow the market to regroup and ready itself for its next leg up. Instead we got follow through Monday and mostly range bound trading Tuesday and Wednesday. I guess sideways movement […]

Good morning. Happy Wednesday. Yesterday my hunch played out for all of half the day. The market gapped up…dropped to fill the gap…rallied and failed to take out the early-day high…and then dropped. But it only lasted until 1:00 est when a bottom was put in place and a rallied followed. My bias is to […]

Good morning. Happy Tuesday. So the market couldn’t correct even just a little the day after options expire. I guess that means the market is pretty darn strong – or the correction will be delayed. Here’s the daily SPX. We got a clean breakout from the falling rectangle pattern and now the index is at […]

Good morning. Happy Monday. Hope you had a nice weekend. The Asian/Pacific markets closed up solidly today, and Europe is currently up across the board. Futures here in the States suggest a moderate gap up open for the cash market. Last week was the biggest up week since the bottom formed in early March. Coming […]