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 […]
I think you could find an equal number of traders that would make a case for being bullish or bearish. We sit right in the middle of the trading range we have been in for months with prices tightening tighter and tighter (less distance from the highs and lows, staying closer to the middle). heck […]
well, my test position did quite well today, but I sold it mid day. In hindsight … probably would have held it until the end of the day or longer. Today’s strength put us back in the game … surprising most market participants which is why the move was so ferocious … shorts got squeeze […]
most everything in the market looks bearish still as it has for the past week or so. We are getting close to a situation where we should see a bounce, but I think it is still a day or two off. I actually purchased a small long position today, but I think it is too […]
I definitely see healing going on as the markets flatten and seem to be consolidating. It seems that the markets have accepted the fair value and prices are sitting relatively flat. I will say that this morning’s rally attempt got shot down hard, but looking over the last 3 days we seem to be holding […]
going to keep this one very short today. Although intraday I was seeing strength … my end of day analysis confirms that we are not only in a downtrend, but that we have more downside to go before we are done. Although I was hoping we would bounce sooner, it is looking now like we […]
I haven’t posted in a few days and wanted to provide a quick update … my lack of posting is simply because my view hasn’t changed. Today finally showed what I have been seeing (and discussing here) for the past few weeks. There is a bearish underlying hue in the market and today it finally […]
well, we got the pullback I had been expecting and waiting for with the markets down between 2% – 3% today. As you probably saw from my previous posts, I was surprised it had not come 2-3 days ago. The markets continue to teach me patience, although it is so hard to have at times. […]