One of the key skills in trading the markets by its own action is the skill of understanding structure. Someone recently told me that they look solely at price and volume; they consider structure irrelevant. I can't understand that attitude. To my way of trading, using structure is essential. A good example of how structure plays a significant role in trading occurred on … [Read more...]
Archives for June 2014
Monday’s Trading
Yesterday, we noted that the 1925-30 level would present likely resistance to the S&P futures. The market couldn't quite reach that level, stalling with no demand at 1924.25. Close enough. A swift, 10-point fall after the US open pushed the market down to yesterday's low at 1914. This was noted as potential support on a Facebook post, with 1910 as strong support. We … [Read more...]
A Bullish Market
The market has been bullish going into the end of May. On Friday, though, the range narrowed as new highs were made. You could see the narrowness of the range by Friday’s intraday trading. It was difficult to trade on Friday. I see no reason for the market to have a big reaction at this time. As the market has moved up, supply has not shown its hand. Although volume has … [Read more...]