By: Steve Spencer of SMB Training At the beginning of each AM Meeting I spend some time discussing the bigger picture in the market. Today the focus was on signs that the market may have put in a short term bottom and that I...
Read MoreS&P futures are up 7-9 handles this morning, going for the 4th day of this rally. There isn’t much new to report on the news front, which is probably why the futures are higher. Overseas markets followed the US gains,...
Read MoreAfter a quick rinse in the first hour of trading Wednesday, the squeeze was back on as the SPDR S&P 500 ETF surged 4 points (3.4%) from low to high. Weak shorts were forced to cover, and it was off the races for stocks. But...
Read MoreBy: Mike Bellafiore of SMB Training This Open I kept saying,”For some reason SOA is working.” Above 14.62 the top of the opening range was my first entry. And above the consolidation at 15.10 was my second....
Read MoreMarkets opened higher and the SPX hit 1180, just below the next big resistance area of 1184-1187. Trading back below yesterday’s high of 1176 is a short-term sell signal, or a signal to take some profits if you’ve been trying to...
Read MoreMarkets got some decent follow through yesterday to Monday’s Bullish Technical Reversal. Today the futures have been a bit volatile but are now pointing to a 5-8 point up open in the S&P. Last night the French Banks finally...
Read MoreStocks closed in the black Tuesday but struggled to hold onto gains at the end of the day. When the market reaches oversold levels like we saw Monday morning, it is typical to see oversold bounces that turn into short squeezes....
Read MoreBy: Mike Bellafiore of SMB Training Special Guest Post from my mentee SW After reviewing today’s work, I found myself in a situation where I tend to initiate trades with “bad habits within good habits”, which...
Read MoreThe tug of war at 1135-1140 was won by the Bulls today. After a move from late last week from 1197 to today’s low (1136) it was hard to lean on shorts today regardless. This is why you wait for a daily close below the lower...
Read MoreTricky day so far, but there was opportunity for guys coming in flat to buy the down open for a quick trade. This was prudent strategy since we were entering our third down day and 70 handles off of last week’s levels. Most key...
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