The Chart of the Day… Quick Glance at the Market Heat Map and Industries Notables: Basic Materials reversed whatever strength it showed yesterday and tanked today. Financials no better. Services showed relative strength...
Read More$SPY have done almost everything I was expecting this morning even with some hiccups. Bulls are currently defending the 100MA (136.11) and the 1st Fibonacci retracement level @ 136.08. I think that there are still some market...
Read MoreThis is going to be a farily informal post, but one thing I’ve been thinking about, and one thing that I believe gets in the way of traders in general is watching the Benjamin’s in their account. For me personally, I...
Read MoreI was patient this morning, maybe a little too patient, because while the market gapped down at the open, and started trickling higher thereafter, I refused to go short anything until we filled the gap. I kinda, sorta thought...
Read More$SPY took a nose dive and right now it is looking very much like it wants to test that 100MA level @ 136.16. I see that the sentiment is overall bearish with a good reason. When we get close to a level that we might actually...
Read More$SPY losing it’s strength after the release of the weekly jobless claims that rose 8,000 to 365,000. Analysts were expecting 370,000; continuing claims fall 19,000 to 3,272,000 meaning that less people are getting...
Read MorePre-market update (updated 8:30am eastern): European markets are trading 0.5% higher. Asian markets in a mixed range from -0.7% up to +0.4% US futures are trading moderately higher ahead of the bell Economic reports due out (all...
Read MoreIt is now the time to play close attention to the short term EWP of Gold. I believe that it is a fact that there is a negative correlation in force between Gold & USD Index and hence there is a positive correlation between...
Read MoreThe Chart of the Day… The 3 Step Process to Understanding the typical market reaction to the Fed’s FOMC Statement. Quick Glance at the Market Heat Map and Industries Notables: Financials, Consumer Goods, and...
Read More$SPY maybe forming an invert head and shoulder on a 3 min chart. For that to confirm, the $SPY needs to cross 138.28, and we may have a good end of the day with the bulls taking it over the bears. Some good names that can run if...
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