Today's Market Action--Surprising? The market action this morning may have surprised some traders. We saw the market start to rally strongly after putting in the January 6th low. I had emails from more than one trader saying that this rally looks very similar to the push off the mid-December swing low. They argued for new highs. I have been doubtful about that. A few things … [Read more...]
Trading the S&Ps After the Holiday
Overview: Trading the S&Ps After the Holiday Trading the S&Ps after the holiday can present its own challenges and this year is no different. The charts this week show an interesting pattern. Although we are in a bullish holiday period, the monthly and weekly are both a bit overbought. We can expect a pullback on these time frames at some point. The daily is starting to … [Read more...]
Stock Market Analysis
This stock market analysis like all of our analysis is based on the market’s own action. No indicators are used. We are simply using the law of supply and demand to determine the next likely move in the market. Here, we look at the S&P e-minis as a representation of the US Stock Market. Stock Market Analysis We have obviously been on a strong rally and made new, all-time … [Read more...]
Last Chance for Chart Reading Mastery
Chart Reading Mastery starts this Tuesday, September 16. We haven't held this highly acclaimed course in two years. It is suitable for everyone from traders working to become profitable to pros. This will be the only time it is offer this year. There are still a couple of slots left, if you are interested. You can learn more at: Chart Reading Mastery … [Read more...]
The Coming Week & Free Webinar
The coming week should be an interesting one. We have a fair amount of reports coming out (Housing, CPI, FOMC Minuets, Jobless Claims) that can cause increased volatility. Two weeks ago the US Stock Market (represented by the S&P e-minis) fell hard. There was follow through to the downside in the early part of the next week, and then the market hit support and began to … [Read more...]
