The S&P 500 and NASDAQ closed sharply unchanged. Only the small caps firmed (IWM) but never cleared the high from last week. All in all, today was more digestion than a game changer one way or another although the pros …
From the low print last Thursday morning to the close last Friday, market recovered 2.7%. The Dow did not quite make it to new highs for the week. Moreover, the nasty reversal candles from May 22nd loom overhead like a …
About those reversal patterns. One key indication is when a new 60 day plus low is made (even more powerful when the low is on or near a major simple moving average), then it (depending upon which instrument) closes in …
Storm clouds forming now in Northern New Mexico. A thunderstorm in this case would be a welcomed relief to the fires that have been raging. Perhaps the now oversold conditions on the McClellan Oscillators will provide some welcomed relief for …
The market broke the 20 Turnaround Tuesdays in a row streak just in time to get the cliché “June Swoon” primed and ready! Low volume selloff in the indexes with the S&P 500 back under 164 yet holding Monday’s low. …
The market does not want to quit, gaining back more than ½ of its losses from Friday. And I love that so many traders try to pigeon hole the market into clichés as a trading methodology: “Sell in May, June …
Quote from last Thursday’s Daily: “The market remains in a firm bull phase, which is comforting at this point. That doesn’t mean we can’t or won’t see a move to test the underlying 50 day simple moving averages.” Tweet from …
Quote from last Thursday’s Daily: “The market remains in a firm bull phase, which is comforting at this point. That doesn’t mean we can’t or won’t see a move to test the underlying 50 day simple moving averages.” Tweet from …
Although the market moved up slightly today from the established high end of the range made on May 22ndto the low end in place from this past Tuesday (May 28th), it is still very much “boxed in” in a range. …
After the slingshot high left from May 22nd that still has to be cleared to see a move beyond current levels, we are boxed in after Wednesday’s session near the lower end of the range established since then. One could …