Looking at the past four days price action, we might have seen stalling action, but not necessarily bearish action. Although the bears have had plenty of opportunity to get ‘busy’, they are currently sitting on the sidelines which is helping the bulls. But, there doesn’t seem to be any buying occurring as we are stalled […]
very little action has happened since one week ago, we are certainly consolidating as prices is getting tighter and tighter. What that means from a psychology point of view is that 1) there seems to be an agreement on what is the correct value of the market at this moment, both bulls and bears are […]
This past week was very constructive for the market, as it is consolidating and preparing for the next big move. Short term it looks bullish, but we do have some overhead resistance that will need to be taken out. So, although most of the data points to up, until a break occurs caution is warranted. […]
Today’s price action was constructive on the QQQ and SPY. IWM is lagging a bit, but I am starting to like what I see. We seem to be chiseling away at the previous high made back in October, slowly making healthy advances toward that level. Although I am still holding shorts and in fact bought […]
Today was a very strong day from a price perspective, We advanced roughly 1.5%, and broke through a previous resistance level which caused a short term higher high to occur. That’s the good news, now the bad … I over the last 12 months, you only were in the market today … you would have […]