Without guidelines, like trading blind
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Seems the market forgot to have its morning cup of joe since it began weak and then proceeded to drift higher with no real gusto. No bloodbath nor "in your face bears" type rally...milquetoast at best. Neither committed sellers nor …
Another layer with the pivots, reference points and opening range rules
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NASDAQ (QQQ) has a pattern worth paying close attention to. New highs Wednesday, followed by a bearish engulfing pattern on Thursday ending with an inside day on Friday. Volume patterns indicate 4 Accumulation days over the last 2 weeks. Yes, …
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There is sure a case for the reversal in NASDAQ (QQQ) based on the new high tick on the open followed by the escalator down to almost but not quite Wednesday's low. We all see the bearish engulfing candle pattern. …
Market will tell you but good to have a plan
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I have been consistently friendly to the market since the year began. I write everyday about how the phases are positive, the volume is light with the occasional accumulation days thrown in, major sectors have been leading and other former …
The market held its breath today. That gave it time to digest and work off some overbought conditions while all sat in wait for AAPL earnings. Most noteworthy was my favorite index Russells 2000 (IWM). Beautiful bullish engulfing pattern candle …