I just finished the slides for today's webinar on Tops & Bottoms. There are 60 slides covering how to read a top and how to read a bottom. I think you will like them. We will have a thorough discussion on market tops and bottoms, including the all important structural characteristics, how markets behave in these locations, entries, use of the Weis Wave, bar-by-bar reading … [Read more...]
Trading Losses
Trading losses are tough to handle for many traders. Not only do many try hard to avoid them, we may even try hard to avoid thinking about them! In my article published on TraderPlanet.com, I explain why not thinking about our losses is a poor psychological play. You can read the article at the link that follows. Below the article there is a section where you can make … [Read more...]
Follow-Up in the S&Ps
Yesterday, resistance was identified in the area of 1965 - 1970. Today, the market stopped it's upward movement at 1968.25. Today--marked A on the chart--was an up day. Although it was up, it also traded inside the range of the previous day. We had good volume, but the market remained largely range-bound. We could be seeing the market accumulating around support as we have … [Read more...]
Progression of a Top
I showed Daily Chart 1 of the S&P e-mini futures in a free webinar held by TradeGuider yesterday (Monday) morning. You can see that Monday's bar C was still in progress. We noted that we were likely creating a top and could expect at least a modest pullback. Here was the rationale: The daily chart had reached the Weekly Supply Line (red trend line) on Thursday last week … [Read more...]
Happy Fourth of July!
Happy Fourth of July everyone! Helen and I wish everyone a wonderful and safe holiday weekend. For readers who may not know, the Fourth is our national holiday celebrating our adoption of the Declaration of Independence from Great Britain. This occurred in 1776. We actually severed ties from England two days earlier, on July 2, 1776. On the 4th, our government adopted the … [Read more...]
