On Monday, I suggested that if the Bulls ‘want it’, they better get on with it … and well, we saw the outcome … the major indexes have lost 2.84% since then. Complacency is the enemy in the markets. We broke a number of major support and trendlines yesterday and held below them today. Again […]
The market continues to be news driven and Europe is causing a lot of concern right now. We still sit in the trading range that I have spoken about much over the past month. We seem to be spending more and more time in the bottom half at that range these days, which isn’t an […]
today calmed the fears that I had expressed yesterday. Going into a weekend with the numbers we had yesterday would have probably created a lot of concern on the face of investors, but with a strong close today we have removed that fear factor. Are we out of the woods yet … nope … just […]
Yesterday’s weakness coupled with today’s lackluster response makes me very nervous. We are still sitting directly in the middle of the trading range I have been speaking of for a few weeks, whereas yesterday we were at the bottom of this range … so currently we are still ok, but … I am seeing little […]
For any of you that has seen the movie “Father of the Bride”, one of my favorite lines in the movie is when Steve Martin is talking in the first few minutes of the movie about how as soon as he ‘thought he had it made’, he heard a voice call out, “not so fast […]
today was a great day in the market. A number of important resistance levels were broken and prices held above them into the close which is psychologically important. the SPY closed above the 200 day moving average (it previously closed above this on 10.27, but only stayed above it for a day and then it […]
The market seems confused, doesn’t know if it wants to go up or down… We had what is called an ‘inside day’ or in candlestick speak, a ‘harami’. Basically it means that the price action today was ‘inside’ of the price action from yesterday. doesn’t mean anything significant, except indecision. I am also seeing doji […]
Today was a very strong day in terms of the tone it set. Yesterday we had the makings of a potentially very bearish situation, but today the market spoke loudly that we want to go higher. we closed on the SPY and IWM above yesterday’s high which means that all people that shorted yesterday are […]
minutes ago, we opened up roughly 1.5% higher than the close yesterday (spy and iwm) … almost completely erasing yesterday’s movement. We will see if it can hold, but this is a fantastic bullish start to the day. We got within pennies of breaking yesterday’s high, which also coincided with the confluence of the 5 […]
A pretty nasty day today with a lot of volatility. Good news is that the low of the day was put in within the first few minutes of trading, but the bad news is that it basically closed at the same level (higher, but at the lows of the day nonetheless). I was hoping to […]