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...]
Fed Day Trading
Fed Day trading almost always involves contraction of volatility in the morning session and expansion of volatility right around the announcement. Often, like today, the pick-up in volatility will trigger an afternoon trend. In yesterday's post, I highlighted my take on key resistance and support for today's trading. These are outlined in boxes on the 3,000 tick chart. We see … [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...]
Rally Dying?
Or is it just a pause? As we await another winter nor'easter here in southern New England we are trying to stay warm and figure out what the likely next move of the market will be and how much snow we will get. The weather seems easier. It's been very cold here lately. I awoke this morning to one degree above zero (that's -17.22 Celsius). It's what we call pretty nippy. … [Read more...]
The Day After A Trend Day
One of my favorite days to trade is the day after a trend day. Yesterday was a big trend day down. Sometimes, it is hard to get aboard a trend day. Yesterday, there were several opportunities to enter short, but even so, traders often report that trend days can be frustrating events. Trades are taken off too early and sometimes it looks as if the market is bottoming, but it … [Read more...]
