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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 …
Reversals, Breakouts, and Risk: Why Do or Not Do That Trade
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Tomorrow the boys are back in town. The FED boys that is. Volatility has come in at an important inflection point in NASDAQ (QQQ). Today, the Russells (IWM) made a new 60-day high and closed in the red. Iran is …
Swing trade exits and other guidelines
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The NASDAQ did indeed manage to end last week at the top of the weekly bar in spite of naysayers andGoogle. It even spent most of Friday in consolidation thereby working off overbought conditions. A casual observation about mankind and …
After the market, GOOG reported weak and got hit hard. But, were there clues? Yes. The week of January 6th, GOOG ran to new all time highs and closed on the lows that week. Then, it began the following week …