Friday was just the type of day one would expect after a couple of days of huge selloff and phase changes accompanied with good volume. Digestion and a meager bounce off of the lows: not enough to actually totally believe …
I worry when I see so called "professional" traders who have subscription services and recommend that folks buy falling knives in the "hope" that they will be the first ones to be "right". This is dangerous and quite frankly, the …
Internals got negative, but rotation keeps some sectors in the running
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We are no strangers anymore to market swings of 100-300 points on any given day. The deterioration began when the indexes broke their 50 DMAs in the past 30 days. But, ahead of the election, SPY in particular tried its …
Still looking at same sectors for leaders/laggers, only with patience
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Day of election and market continues to hold support testing yet another level of resistance be it last Friday's high or the overhead 50 DMA. That puts the technical analysis looking at a very clear window. Either the market continues …
Plus, some of my favorite patterns to watch for
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Market action Monday was neutral to slightly positive having held key support levels but not able to clear key resistance. And, all phases are in warning, which means unclear and at this point more vulnerable than not unless the internals …
Best Longs and Shorts to Plan For
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Although neither as sobering nor tragic as Sandy, one does have to assess the Friday damage to the market and look forward with a logical plan. Of course, with US Elections on Tuesday, all plans are subject to change; therefore …