evening folks. Nice day in the markets thursday and friday while i was gone. At this point when market has broken key levels of support you have to assume the market is guilty till proven innocent. So any bounces toward 1300/ 50dma i will assume are reflex/relief bounces. Often a breakdown of key support after …
Hey folks. interesting week in the stock market. That consolidation pattern that we had been watching for quite some time finally broke through the downside. We saw some definite signs of distribution. We did have a nice snapper on Friday. Watching for follow through on Monday. If we dont get it then we will have …
Morning folks futures are gapping down even with the price of oil down 2% plus. For weeks we have had an inverse relationshipin the market to oil. We saw that relationship start to unravel. We still are coiling inside a tight range on the SPX. Many traders will tell you when you see a …
Morning folks futures looking flat today. Uso gapping up .6%. Gld up .46% so far. Remember the markets are trading inversely to oil at times so if we see a spike in oil it makes it hard to add non oil related breakouts as the sell pressure is to strong. we dont have much in …
Morning folks. Interesting days these days. If u havent noticed the market seems to pop in the morning then fade the rest of the day. Then usually end of day we get a slight bounce. Seems all the action is in the first hour of trading (for me in my career 75% of all my …
Morning folks. stock market futures a bit flat. Looks like the jobs number is out. reaction is somewhat muted so far. the reaction will probably be the primary focus ( possibly i personally dont think it matters) typically if market opens up very very strong historically its not been a good idea to chase it. …