The bears haven't seen day-light in a long time, and I doubt it is going to change for them this week as Thanksgiving is upon us and the volume will only get more light and the interest by the big money be less interested in what this market has to offer us.
While, I have put together a bearish list of short setups, I don't think that any of them are worth jumping into just yet while this market continues to soar higher and stay above the 5-day moving average everyday since October 16th. So until something changes, why get short? Wait for the market to begin to pullback or breakdown, but to try and front run a move that might not be for days, weeks or months away, does not make any sense.
Continue to maintain your own list of bearish setups that you can take once the market does decide to give back and use the list that I've provided below as a primer.
Here's the bearish list of trade setups:Read more...
Traditionally this is a bullish week for stocks.
But this is also one of the slowest weeks in terms of volume for stocks as most of Wall Street get in their fancy cars and head off to the Hamptons for the week.
Very rarely do you see volatility enter this market though I have seen it happen once in recent years. However, unless there is an unexpected news event that breaks, I expect very little from this market with a slight upward bias.
Here's this week's bullish watch-list:Read more...
Economic reports due out (all times are eastern): Chicago Fed National Activity (8:30), PMI Services Flash (9:45), Dallas Fed Manufacturing Survey (10:30)
Closed out yet another profitable week in the Splash Zone.
Check out the results that one member of the Splash Zone mailed me this morning - it is quite impressive to say the least:
This is a trader that never has to even trade for himself. He simply auto-trades my trade alerts through Ditto Trade and relies on the Splash Zone trade alerts to do the rest and this is what his brokerage account looked like today based of the Splash Zone trades.
And it is shaping up to be another solid month in the Splash Zone and once again outpacing the S&P 500 as has been the case all year long.
Here's November's results:
Traders in the Splash Zone are learning and experiencing what it means to simultaneously profit from the stock market on a consistent and regular basis. Isn't it about time you sign up for a Free 7-Day Trial to the Splash Zone?
With your Free 7-Day Trial you will have access to the Chat Room where you can learn and work with other traders including myself each and every day as well as receive all my trade alerts including email and text (international too). You can cancel any time and you can always check out how all my trades have performed over the years - every single trade - by clicking here.Read more...
Economic reports due out (all times are eastern): Kansas City Fed Manufacturing Index (11)
SharePlanner Reversal Indicator is hitting high levels of altitude lately.
In times past, a bearish reversal would have usually led to respectable pullback in the broader market, but since the Fed took a heavy hand in the market since 2008, the bearish reversal signals can mean one of two things: Either a sell-off is coming or price action is simply going to consolidate.
Due to the strength in the market over the past five years, I have come to expect that a bearish reversal should have the default setting of signaling a period of consolidation unless proven otherwise.
Here is what we are seeing on the Daily SPRI:Read more...