It has been a sloppy, narrow range morning in the S&Ps. After the high volatility of the past week, it can be hard to step on the brakes. I put on a trade this morning and it quickly showed a profit of 4 points on good range and volume. I thought it had more legs, so I brought my stop to break-even and played for a higher target. It reversed and stopped me out -- … [Read more...]
Traders’ Expo New York
I just got back from the Traders' Expo in New York (I beat the snow!). As always, it was fun to see all the hoopla, make new aquaintances, and see old friends. I especially like to see traders who have taken classes with me or have traded emails. It is always good to see how they are doing. I wasn't there to make a presentation this time - just a spectator. And actually, … [Read more...]
Wyckoff Spring Takes Us To New Highs
Yesterday, the market made new 20-day highs on good intraday trading. Twenty minutes after the open today, the market dipped and tested yesterday afternoon's low. Obvious support points like this are things I look for. The market likes to trade at these obvious points. Since the market slowly sold off yesterday afternoon, the market had to go an test that area to determine … [Read more...]
S&P Trading – The Wyckoff Way
Last week on January 26, new highs were made, but on much narrower range and lighter volume. The next day continued higher on lighter volume (1.554 million contracts) and narrowed into an NR7 day. This began to look like dullness at the top of the rally. We also see SOT at the highs. Buyers appear exhausted, giving a chance for sellers seen on January 19th an opportunity to … [Read more...]
