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...]
Webinar Today
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...]
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...]
So Far, It’s Been A Pretty Weak Rally
When we look across the three major US stock market indices, the best we can say is, So far, it's been a pretty weak rally. Last Monday (June 9), all three markets made new highs. As the week progressed, the Nasdaq (as represented by the QQQ ETF) tried to hold onto the newly gotten gains, but the Dow (DIA) and the S&Ps (SPY) gave them up. You can see this at the area … [Read more...]
Bullish Market – What Will Turn It Down?
The market--as represented by the S&P e-mini futures--has certainly been bullish. We have had a run of several up days or near up days in a row. The market structure has been conducive to a bull run and the run has been impressive. At some point, however, the current rally will end and we will see a pullback of some degree. What Will Turn This Market While I don't try to … [Read more...]
