Nagging 4th distribution day in volume ending the month in NASDAQ 100 and S&P 500. That looks to be saying the market wants lower after the Thursday bounce that could not reach the fast moving averages. But, QQQ and IWM …
And right on cue, a rally to resistance as none of the indexes were able to test or clear the fast moving averages. But certainly, in the face of some anemic economic numbers, they did indeed bounce off the lows-and, …
When market hits bottom of an unexpected trading range, some tips
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I took the day off from trading. As such, Icould step back a bit and digest the last several days. The fact that the drop happened quickly (over the last couple of days) is concerning but, the drop is into …
Nasty yet an oversold 2-day Relative strength indicator in many instruments. Also, a distribution day in volume. The weekly and monthly RSIs are not oversold. More important, is that AAPLdropped precipitously and GOOG might have had a key reversal today. …
While market internals continue to work off negative short term indicators, some guidelines
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Low volume nothing day to begin the week. And, pretty much expect it to stay quiet again for the next couple of days. That means a quiet choppy drift, which will be good for a resumption of the rally.
S&P …
Entries, initial stops and adjusting exits at end of day
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S&P 500 closed out the week down with an inside day. It also closed resting on the fast moving average which means Monday will be telling about whether or not this it's due for more correction, or ready to rally …
All week I called for a correction and test of the fast moving averages. Although not all indexes hit the mark perfectly, Russell 2000 (IWM) and S&P 500 (SPY) did. Now, will the bull market resume? Good question for Siri. …