Good Monday morning to you! It’s the last week of trading for the month of October, so make it count.
Overnight, the Asian markets were up on mild strength with gains ranging from 0.05% to 1.7%. European markets are currently seeing slight gains with the DAX leading the way at 0.6%.
No major economic reports out today, and though there are a ton of earnings reports coming out, there were only a few that caught my eye: CF Industries (CF), and Corning (GLW).
Currently the Dow is trading up at 10 points, the NASDAQ at 2 points, and the S&P is up 1.5 points.
The markets continue to trade flat as of late, with a slight negative bias. The 50-day average continues to creep up on the S&P and a challenge could be looming. The 50 hasn’t been broken since June, when we saw a descent pullback then. Most important in terms of support levels is the October low at 1020. A break here would send bulls scurrying for the exits.
Thought I’d leave you with a quote from one of my favorite all-time traders:
“Don’t take action with a trade until the market, itself, confirms your opinion. Being a little late in a trade is insurance that your opinion is correct. In other words, don’t be an impatient trader.” – Jesse Livermore
Here are Today’s Trade Setups (New and Improved!):

Ready to Bounce: VLTR
Bullish Candle Setups: CONN, TQNT, WIW
Bearish Candle Setups: BBW, BWP, BWS, CAF, HAO, HNR, IDXX, OGE, OKS, RJA, SAH, SID, SII, SR
I’ll be adding more categories in the coming days as I get more familiarized with my new charting software and its capabilities.