Yesterday, we noted that the 1925-30 level would present likely resistance to the S&P futures. The market couldn't quite reach that level, stalling with no demand at 1924.25. Close enough. A swift, 10-point fall after the US open pushed the market down to yesterday's low at 1914. This was noted as potential support on a Facebook post, with 1910 as strong support. We … [Read more...]
A Bullish Market
The market has been bullish going into the end of May. On Friday, though, the range narrowed as new highs were made. You could see the narrowness of the range by Friday’s intraday trading. It was difficult to trade on Friday. I see no reason for the market to have a big reaction at this time. As the market has moved up, supply has not shown its hand. Although volume has … [Read more...]
Trade Mindfully
As many of the readers of this blog know, I have been writing a book on trading psychology. Last week, I submitted the manuscript to the publisher, John Wiley & Sons, Inc. Wiley has put it up on it's website. You can see a preview of the book at this link: Trade Mindfully by Gary Dayton You can also find it on Amazon, at this link: Trade Mindfully at Amazon.com The book … [Read more...]
Free Webinar Tomorrow
We will be holding a free webinar tomorrow (Wednesday). It will run about 40-45 minutes. Just us and see how Wyckoff principles unfolded last week in several markets, including the S&P e-minis, Crude Oil, and the Euro Currency. We will look carefully at how to apply Wyckoff's reading of supply and demand in each of these highly active markets. You will see some great … [Read more...]
Market Falls
The US Stock market as measured by the S&P 500 e-Mini futures fell after weakness appeared at the recent highs. You can learn about the recent weakness and how it was detected from the last two blog posts discussing comparative weakness in the main US markets and the clear evidence of selling in recent days, among other signs of weakness. We are now probably a bit … [Read more...]
