In yesterday's stock market analysis post, we discussed the bullishness of the market and how it was absorbing residual supply at the September highs. We noted that we were looking to be buyers on an early morning dip or, if highs were made early in the US morning session on low demand around the 1230 level, we wanted to be sellers. Stock Market Analysis: Intraday Trading The … [Read more...]
Happy Halloween & New All-Time Highs!
Happy Halloween! In our part of the world where the leaves are ablaze with fall colors, there are all kinds of signs of Halloween. Pumpkins on every door-step, witches and other scary figures dot the lawns in our neighborhood, and children going to school this morning in their Halloween costumes. It's always a fun time of the year marking the final transition from summer into … [Read more...]
When Your Analysis is Wrong – A Lesson in Trading Psychology
Last night, I was looking for the market to react and begin to head lower today (see last post below). That analysis turned out to be wrong. How do you salvage a trading day when your analysis turns our to be flawed? In truth, there are many days that my nightly analysis turns out to be wrong, or, more correctly, the market doesn't do what I anticipated the night before. It … [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...]
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...]
