The S&P 500 closed at 1101 on Friday and 3 minutes into the open Monday it is at 1116! Then we INSTANTLY backed off up to the ISM number and on that news we got an instant knee jerk to you guessed it to the 1120ish level...
Read MoreIn our mid-day update to our subscribers on Friday we said : “Part of me would feel safer seeing a retest of recent highs for a mini double top (little red line at 1120 or even the 1131 level before a drop as that would mark a...
Read MoreThis is your captain speaking, we’ve turned off the keep your seat belts on sign (for those of you who have short exposure, those who have long exposure? Please fasten your seatbelts). You are now free to move about the cabin....
Read MoreAmazon (AMZN) was featured in our newsletter as an ideal short-sell set-up. All it did was rally on light volume back up to resistance at its downtrend channel line. It’s at that point, we initiated a short-sell position in this...
Read MoreSo AAPL reported earnings after the close Tuesday and what did it do Wednesday? See that? Traded basically right up to the little red 265 line and backed away. Anyone who had to have it on those great numbers AFTER it popped is...
Read MoreWhen you look at the following charts, it’s really pretty simple. Downtrend channel resistance is resistance. In downtrending markets, it’s all about shorting stocks that are in clearly defined downtrends. See those pink line...
Read MoreGoing into last week we said: “We’re in the middle of the road and could go either way” Up to that point in time we were just looking at a normal pullback off the recent highs and everything was going according to that plan all...
Read MoreLook at the charts above, Are we closer to support or resistance? Given we are at a support level do you really want to stop out of everything here? Not us. We’ll let the dust settle, manage our positions (of which most all are...
Read MoreFollow The Leaders! While everyone is fixated on the indexes we prefer to focus on the leaders. While the indexes have gone lower the the last few days breaking into new lows during this pullback off the 1130 level on the...
Read More“What’s so special about 1130? It’s downtrendline resistance and a 50% fibonacci level”One look at the SPX chart below tells the story, all in a news driven pop based upon the Yuan. Sure enough the...
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