With all the gaps we’re experiencing in today’s European news driven markets, it’s very important to know the key reference points that can tell you whether to have a long or short bias after a stock gaps. Some of the …
This morning China lowered its Reserve Requirements, and the Fed and other major countries central banks announced coordinated actions to ease strains in financial markets. As a result the market will likely gap open much higher. Markets have been gapping …
The market had a very decisively down day today. The SPY broke down out of a multi-week wedge on good volume (see chart below). But not every stock got crushed. In fact some stocks held up well and could be …
Today is a good day to have mental impression of in your trading brain.
In yesterday’s Focus List I emphasized the likelihood of a trend day occurring today or soon. While the trend day did not start at the low …
Today was a second consolidation day in two. If you look at the 60-min. charts on the market watch 4 (SPY, DIA, QQQ, and IWM), you‘ll see a clear pattern of sideways action since the gap down Monday morning.
All …
200-Day moving averages are where the big corrections end and major trends are defined. Over the years I've come to respect the 200 like unwelcome advice from a grandfather - you don't always want to believe it, it often takes …
Today was a weaker close than the bulls would like to see - below the prior day's low and S1 in the almost all the key the attempt to breakout - SPY, DIA, QQQ, XLF and KRE. IWM also closed …
Rules to trade by when considering trading breakouts and reversals:
If you follow our rules for determining bias based on pivot stack, S1 and R1, and/or the 3-day pivot along with the opening range, today was a tough day. Don't be discouraged.
The trading room has had a 3 week …
After 2 weeks of all up price action, today we finally saw the markets pull back. This doesn't mean the markets must go down, but it does mean weakness may lead to more weakness and strength can be more aggressively …