OH BOY! We got an O’Neil Follow Through Day! That’s just great isn’t it? We should start buying stocks now? You mean seriously AFTER the S&P 500 has just ran from 1040 to a high of 1115 (75 points) with the...
Read MoreWith regards to cup and handles, it helps to know what exactly the components of a cup and handle pattern are. Before you can have a completed cup, you have to have the left side of a cup (usually some sort of downtrend or...
Read MoreThe big question early this week is will be are we going straight to a retest of the recent lows if not more? Or are we going to backtest Monday? If we backtest we’ll be looking at shorting another name or two on our watch...
Read MoreSeven reasons we are glad we have short exposure. 1. 38.2% Fibonacci retracement level was tagged and promptly turned back. 2. RSI at the level of the correction highs 3. Red Lines/ downtrend resistance levels hit. 4. The...
Read MoreFriday’s sell off was to be expected as the market had come a long way in a short period of time. What we’ll want to see is the market either resume its advance early next week or if it stalls right here as we have...
Read MoreOn Tuesday, the futures in pre-market were down over 200 points on the Dow. It’s at that time we issued a pre-market alert where we said: “We’ll be down pretty big at the open and for the most part we feel that...
Read MoreUpon completion of the first leg down we would get some sort of rally that could last a month or so or even longer to correct back the excesses of this recent waterfall down (Wave 2).There is a good possibility we are done with...
Read MoreResistance and overhead supply levels are still in play. “On The 3rd To 4th Day Watch for a Reversal” Today is Day 4 and the indexes are struggling. The big question is do they sit here and work off the overbought...
Read MoreDoes this change everything? Maybe and maybe not. It’s too soon to tell. But what we can tell you is that today’s news driven event has averted a full blown meltdown and has now taken the indexes back up to overhead...
Read MoreOne classic and often explosive short-sell pattern we want to be on the lookout for is that of a First Thrust Down, Snapback Rally Bombs away pattern. Below is one such example with more further in this post. We cannot stress...
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