I highlighted the area around which the market has been trading since August in last night's post and update that chart here.  As I mentioned last night, the area could be expanded to the upside by a few points, and I have done that on tonight's chart.  This better captures the price activity vis a vis this area in September and again in early November. We pulled down into … [Read more...]

The webinar at Big Mike's Trading Forum was a huge success.  Many of the Forum members got a first-hand look at how the science of deliberate practice can help develop the skills needed to trade with confidence. What we did We did what we do every Thursday - a session of deep practice to hone sound decision-making and trading skills.  We started with a market on its higher time … [Read more...]

On Sunday night, I noted that the market was in a critical position and -- despite the general bullishness of the season, would likely fall because of the relative weakness seen in the Nasdaq futures market (click to see this post).  So far this week, we have seen the market slide lower on down trending days.  The question now becomes, where might it fall to? Well, no one … [Read more...]

I will be doing a free webinar tomorrow (Tuesday) on how to develop skills and become good at trading.  Registration is free.  I will debunk a few myths and highlight guidelines you can use to improve skills and improve your trading abilities.  Here are the specifics: Date: Tuesday, December 13, 2011 Time: 4:30 PM EST (New York Time) Place: Big Mike's Trading Forum Free … [Read more...]

Last week produced a fairly narrow range of trading.  The first three days of the week saw low volatility, while Thursday and Friday saw activity pick up.  Despite the end of the  week jump in trading activity, only the Dow pushed above last week's highs. Comparative Strength & Weakness: Current Market The chart for this post is a weekly chart of the S&Ps, Dow, and … [Read more...]