See the market watch charts below. As per yesterday's comments, all 4 broke and closed below the range. An options expiration Friday in the summer is not a day I'd expect the market to be able to have a big …
Yesterday I said I'd look for a close over the 3 day pivot high to be my indication that the market was ready to move up out of the flag. The markets all traded over their pivot highs but could …
The steady decline can really test your resolve if your a bull. It has also now made it more difficult to find shorts that are up against resistance as they have sold off. Here a few important rules to keep …
Yesterday's gap lower than the prior day low with a negative pivot stack played out as you might expect - an initial rally thwarted by the prior day's lows (SPY, DIA, IWM) and the strongest (QQQ) could not clear the …
Friday's gap lower was based on bad economic news and in the context of a positively stacked pivot condition. This mornings gap is based on concerns about the financial condition of Europe and the pivot stack is negative. I'm not …
Consensus expectations were for 125k new jobs to be reported. We got 18k. To make the report even more disappointing the last two month's numbers were revised lower.
Here's the good news for traders. There is no better way than …
Markets are looking like they'll open over a half a percent high helped by better than expected initial claims data. This creates a gap over 2 days of consolidation in resistance created by daily highs from May.
The two days …
The Q's are the only one of the four market watch that closed over the prior high, DIA broke it marginally but closed lower and the SPY and IWM had an inside day high in the prior day's range. One …
After an exceptional move in the markets last week, I'd be careful about buying breakouts on stocks that have run up for 2-3 days with out a rest. As a result the long list has two types of stocks.
1. …
Seems hard to believe, but it's true, the Q's and IWM are at a the 50% line from the highs to the lows at the 200-day MA. Aside from this being a good point to expect the market to take …