QQQ ended up 1.5% and as expected, with lighter volume than yesterday. It got through 55.50 with the next resistance up at the lows made on May 25 at 56.47 and beyond that the 50 day moving average at 56.97. …
SPY closed up .9% and rallied a little bit more immediately after the market closed based on good earnings at Nike. But, volume was extremely light and I anticipate it will stay that way ahead of the holiday weekend. Looking …
SPY had an inside day closing near the lower end of the range yet holding the 200 day moving average. The volume was light, typical of a Friday. Since the pivots are negative and we have closed beneath the FTP …
Yesterday I wrote that QQQ might be the most decisive index. Most decisive thing about it turned out to be not to sell the lower opening, which one would have never done if one used the opening range rules as …
Beginning again with IWM, there continues to be mixed signals. On the one hand we have the continuing decline of the 50 day moving average, a close beneath the adaptive moving average at 80.21 yet still above yesterday's low 79.42 …
Beginning with IWM-if we go back to that March 15 low at 77.57 and look at the low that was made on June 16 at 77.23, we will also see that although it took out the March low, it held …
Those of you who carried home several of the recommended longs from last week such as BIIB, CL, MCP, had a good start to the day. Then, with a relatively orderly open, we had an opportunity to get into longCELG, …
On Friday, the divergence in the market continued with DIA closing marginally higher with a marginal accumulation of volume and QQQ ending down .5% with yet another distribution day in volume. SPY closed down .1% and ended with an inside …
If you used the proper position sizing and risk management, many of the long picks turned out to be profitable such as ORLY which had not only an opening range reversal but also an opening range breakout, AMGN, LULU on …
The last time we saw an orange paint bar denoting a distribution phase or one in which the price trades beneath a stacked 50 and 200 day moving average, was right before Labor Day weekend 2010. And if we go …