First-off, I just want to express my condolences to the families affected by last nights shooting in Aurora, Colorado. My prayers are with you all, and still, even in the midst of tragedy, never forget that the unseen hand of...
Read More$SPY looking very much like it is building an invert head and shoulder pattern. I am patiently waiting to enter longs, and not thinking about shorting anything at all. This is what I am looking for – $AMT long above 70.32...
Read More$SPY taking another hit as we slide after reaching the top of the range. Yesterday’s so called rally was directed to the fools. The people who trade these markets everyday, and understand how this market really is supposed...
Read MorePre-market update (updated 8:30am eastern): European markets are trading -1.4% lower.. Asian markets traded in excess of -1.0% lower. US futures are moderately lower ahead of the open. Economic reports due out (all times are...
Read MoreXLF like SPY and the markets has formed a triangle via the downtrend from April the uptrend since June. Now XLF is sitting square in the apex of this triangle. It has to break down one way or the other. It has been odd that the...
Read MoreThe Chart of the Day… Posted originally on SocialTrade.com – if you haven’t checked it out yet – its definitely a cool site to visit. Quick Glance at the Market Heat Map and Industries Notables: Looking...
Read More$SPY trying its best to hold it’s gains, but having a lot of trouble to stay above 137.64 level. It looks like it wants to re-test that 138 level again, but something tells me it fails miserably. It doesn’t matter...
Read MoreBy just looking at price and volume on the charts below, you won’t see an obvious short setups, in fact all of them are trading above their 50-day moving average, and most are in a nice uptrend. But using indicators like...
Read MoreThe Weekly charts below of the YM, ES, NQ & TF show that price has popped above the mid-Bollinger Band as I write this just after noon on Thursday.At the moment, I’d place general near-term support at this level, which...
Read More$SPY moving higher, but I do believe it will give in any time soon. I do think we will sell into the close. We are going up with no real news, so this is a pump and dump kind of day. Here are some ideas. $CAT short under 82.95...
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