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 …
Markets are gapping higher and well over the daily consolidation. This comes after two very strong days and all of which has been fueled in a large part by the expectation that Greece would pass an austerity plan. As of …
Markets are gapping higher and well over the daily consolidation. This comes after two very strong days and all of which has been fueled in a large part by the expectation that Greece would pass an austerity plan. As of …
I've included the market watch charts at the bottom of this post again so you can see what I mean about the Q's and IWM turning up. I also put blue lines to indicate key price levels for the bulls …
IWM is the only market that did not have an inside day on Friday and only because it traded above the prior high. The intra-day action was a steady decline resulting in negative pivot stacks in all but IWM and …
Yesterday's big gap down tested the markets nicely. Three important points to notice in yesterday's action.
1. Divergence - SPY and DIA tested their swing low and IWM and QQQ's did not come close.
2. Decent volume on the day …
Below you'll find a screen shot of the same view of the market watch that I posted 2 days ago. Then then pattern to watch for was the Q's coming back into the box with the SPY and DIA taking …
Yesterday we saw the bounce that many traders were looking for. While it was a nice relief, it was not extraordinary. In fact,volume was light. As a result I'd have the same plan as yesterday which was to let the …
The DIA and IWM 60 min charts are trying to turn up and both ETF's closed over the 10-day MA for the first time in a long time. This leaves the market in a position of being tightly compressed so …
The daily trend is down, but may be oversold into support.
SPY, DIA, and IWM have positive pivot stack and sit within a multi-day consolidation. The Q's have negative stack and sit below their multi-day consolidation. The best view for …