I wrote a bullish post about stocks this weekend; let’s revisit them to see what changed. The original post is here. Friday’s rally took the S&Ps to resistance around 870-870.13 was a 50% retracement of the...
Read MoreSPH:Markets hate uncertainty. Spoos are down big on a breakout mode day.I don’t really see much support down here. NQH:1245 is support. USH:Good breakout mode day rally. Last Thursday’s high at 127-24.5 is...
Read MoreWe waited an extra day for the Treasury Department’s new plan to stabilize the financial markets, and like the web site ( http://financialstability.gov/ ) they’ve got a lot of working (and explaining) to do....
Read MoreSPH:Doji, breakout mode.Clearing 873/876 double top would be big. NQH:Ditto on the formation, double top around 1287. USH:Rallying on a breakout mode day, looking to buy. 12627 is a potential breakout point, 12717 is first...
Read MoreI haven’t seen a lot of setups today, although buying the 8180 support in the Canadian Dollar worked for a 30 point trade two or three times. NQH: 1287 was last swing high DJH: 8276 is Fib. Retracement resistance DXH:More...
Read MoreThe day’s delay in the financial rescue plan is being blamed for the weakness in stocks and the dollar today. I’d say it’s just some correction to a huge rally Friday. It’s a slim week for economic...
Read MoreI’m a futures broker.It’s been my business for the past 22 years, and in the course of my career, I’ve worked with hundreds of traders, from complete novices to traders with more experience than I.Some of the...
Read MoreI hate taking a loss as much as the next trader-they cost you money, and it’s that market’s way of telling you you were wrong in one way or another.Bad entry, bad stop, wrong direction, somewhere your analysis was...
Read MoreStocks had a great day Friday-SPoos were up 27.25, about 3.2%.Friday’s rally also augurs well for further advances for stocks. Friday’s rally broke the down trendline off the January highs, and was enough to pull...
Read MoreToday was a momentum buy day for the EuroFX-the bottom panel of the chart shows momentum; the decline under the zero line was the buy signal.It held yesterday’s low overnight, and found a bid after the US payroll numbers....
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