Today the markets gapped lower then struggled to get back above the prior day’s floor trader pivot level. The markets closed on a strong note near their high of the day, but just a fraction above their one day pivots. …
I put a lot of weight on the condition of the SPY because the world watches the S&P 500 with a lot of respect. On Friday it closed right on a major inflection point – a bear flag trend line …
I start using HotScans every day in the same simple way - the default Big Volume scan.
Whether you are swing trading or day trading, you should look at it any time and all they time to see what is …
Market Consolidation
Here's the plan...
The TLT's and GLD have interesting island tops in place. It they continue lower tomorrow it could indicate a top in so much as the risk on trade is back on pushing stocks higher.
The market watch is getting back …
Is the SPY flagging or basing?
If it is flagging the implication is the next big move is lower. If it is basing the implication is the next big move us higher. I see a very well defined flag pattern …
I hope Tuesday will be more helpful in revealing the market's short term direction than Friday. While the main trend is down, the last few weeks have created a wide range consolidation pattern which will likely result in a large …
The last day of summer trading, a three day weekend and a big jobs report all on the same day. Tomorrow. I'm not going to try to call this one.
Purely by the numbers, all 4 market watch...
1. The …
Today was a tough day for day traders because the market traded above its OR and then back below the OR low. This is price action that is typical of a market that needs a rest, and as I highlighted …
What will you do if the market gaps below today’s low?
I don’t have any reason to believe it will happen, but it could. And if it did, would you know what to do? You should.
The markets have moved …