Basing. Why would I say this? It's a combination of feel and divergences. The feel part is based on the fact that markets traded below prior lows, and in the case of the Q's below a major daily swing level …
As the market continues to slide into and through support in a very orderly and bearish way, the best approach for our day trading is to fade the intra-day moves in the direction of the main trend. Even in this …
~Short Focus~
DO
BTU
GOOG
~Other Short Charts of Interest~
IBM
BHI
DO
MOS
ALTR
MGA
LVS
CAT
BTU
FST
RIG
OIS
CCI
CREE
MHS
PCLN
XEC
GOOG
~Long Focus~
AET
DLTR
NUVA
~Other Long Charts of Interest~
JCP
TSLA…
~Long Focus~
GS
FL
~Other Long Charts of Interest~
TSLA
VHC
CF
BBBY
OXY
AET
UHS
UNH
GR
ORLY
GS
TIF
DLTR
MA
NUVA
CPT
HLF
As far at shorts -all of these are really only intended to be looked …
The market's decline has been steady and calm. For me this is bearish action. The Q's and IWM's are near their 200-day MA, and by a number of measures - RSI, McClellan, up/down volume, etc. we are near oversold levels, …
The market's decline has been steady and calm. For me this is bearish action. The Q's and IWM's are near their 200-day MA, and by a number of measures - RSI, McClellan, up/down volume, etc. we are near oversold levels, …
The markets bounced yesterday, but were it not for the six down days leading up to it we would probably be describing yesterday as consolidation rather than a rally. Q's and IWM's did not even break the prior day's high.…
The media is all over the fact that the Dow has not been down six days in a row since some time in 2008. While I'm not a big fan of stats like that thrown around without context, it is …
The market indexes are set up to gap lower and below the prior day's low. This sets up two patterns to to watch out for. For the long stocks, look for those that do not go below the prior day's …
Market Comments:
The market was not down on huge volume yesterday, but it was a day where the bears were in control and many stocks closed well below the prior day's lows. This means that prior day low (Friday's) will …