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...]
Coordinating Time Frames
One of the key skills in trading the markets by its own action is the skill of understanding structure. Someone recently told me that they look solely at price and volume; they consider structure irrelevant. I can't understand that attitude. To my way of trading, using structure is essential. A good example of how structure plays a significant role in trading occurred on … [Read more...]
Monday’s Trading
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...]
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...]
