SPY Support and Resistance: Different day same place, that is what is going on right now with this market. SPY once again closed with a doji and pretty much flat. Once again the 134.85 level is coming into play now that SPY has...
Read MoreEach candle represents 3 days on all of the charts below of the Major Indices…the current candle will close tomorrow. You can see they’re in a tight upward trending channel (which is intact for the moment), with...
Read MoreI honestly should have checked the earnings calendar before buying this stock, but they don’t report until after the bell on Wednesday, and since this is a high beta-stock, I’d expect it to move before then. But no...
Read More$SPY trying to give all it’s got to stay above 135.14 level, but there could be an invert head and shoulder pattern building on a 5 min chart. I just mentioned in one of the chat rooms that this market looks like a total...
Read MoreOnce the market opens each day, it can be rather difficult to surmise which direction it will go by the end of the day. For some it seems like a a random walk in the park. But for me, as a trader, there have been countless...
Read More$SPY pulled back as if it was giving the dip buyers an opportunity. I took that opportunity and bought $CAT for a .20 cents gain. Could have been more, but money is money. $SPY got a lot of upside prospect, but it is imperative...
Read MoreRight before I went long on Krispy Kreme Doughnuts, I happened to see the “Hot Doughnuts Now!” sign lit up like Christmas. Secondly, my appetite was begging for doughnuts, and lastly, the market always give good...
Read More$SPY opening lower, but I do believe it is a buy the dip kind of day. We had the news in Citigroup $C who reported quarterly earnings and revenue that beat Wall Street’s expectations. We also had U.S. retail sales fell for...
Read MorePre-market update (updated 8:30am eastern): European markets are trading -0.2% lower. Asian markets traded in a mixed/flat manner. US Markets are slightly lower heading into the open. Economic reports due out (all times are...
Read MoreXLF: This ETF/ Sector has has formed a triangle pattern similar to the SPY triangle. After Friday’s rally XLF is now nearing the apex of this triangle. If XLF breaks this triangle it would mean more upside for XLF the...
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