So have I made my point yet? The one about Sheep scattering, grazing, filling up, pooping and then scattering again? Good. Let’s put that aside now and talk about trading ranges, and leading sectors/ groups.
Beginning with the 2015 Granddaddy …
Indices coming back with overhead hurdles
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As annoying as my constant harping on the Sheep imagery related to market tone may be-I must say-it has kept me patient throughout the correction-or at the very least, given me perspective.
For example, let’s take our friends, the so-called …
Top setups both long and short
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Following inside day patterns in all 4 indices, they all reconciled to the downside, with certain instruments going s-p-la-t!
We have unconfirmed warning phases again in both the S&P 500 and the Dow. The Russell 2000s or small caps held …
Plus where to look specifically
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It seems safe to get back into the sheep conversation after recent activity. I titled the weekend commentary as Cast Sheep because that perfectly defined last Friday’s action (if you accept the premise of sheep in the first place.)
A …
Especially after big reversal days
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An experienced trader never designs or alters a trading plan based on what he/she “thinks” is going to happen. Experienced traders confirm and place trades using top down analysis, market internals, risk/reward ratios, and proper position sizing.
Key is to …
I feel like the market looks-upbeat but a bit tired. Upbeat because the sectors I have been watching are holding up. Tired, because it seems that the prices in those sectors haven’t moved much as if waiting for either the …