Trading Notes: Last night, and again this morning, I combed through my watchlists and didn't find anything that I really liked and wanted to add to the watchlist. One particular chart that I thought has some potential is TNL, but the volume is too light for my liking, so I [...]
Today's Reading for 3/5/24: 68.57 Current Reading: Tilting Bullish Additional Notes: Heavy sell-off today, particularly with tech large caps, but hardly a budge from the oscillator. Across the board, the metrics on the market were by far very benign - nothing to suggest panic. Interpreting the Chart: 0-10 is "Extreme [...]
Trading Notes: Monday's price action lured traders in, with weakness being masked by the continuing rally in semis, only for an end of day rug pull in the final hour of trading to send prices careening lower on the indices. Pre-market action has indices pushing lower again, and that is [...]
Today's Reading for 3/4/24: 68.92 Current Reading: Tilting Bullish Additional Notes: Despite a divergence on Friday, Monday, saw a much bigger push than usual to the upside on the indicator. I'm still finding it shockingly incredible that despite SPY going for green in 17 of the last 19 weeks, that [...]
Trading Notes: Market setting up for a flat open, with traders still flocking to semis and in particular, to NVDA. SMCI was added to the S&P 500 after Friday's close, and personally, I think that is going to be something that comes back to haunt SPX, by swapping out a [...]
Today's Reading for 3/1/24: 63.11 Current Reading: Tilting Bullish Additional Notes: Slight decrease in the Stock Market Oscillator, when I thought we might be seeing a slight increase, but now seeing it diverge from new all-time highs in the broader market. In a healthy market, this oscillator should be giving [...]
New Long Setup: SLB I bought SLB at 49.65 My stop-loss: 47.93 My Target Price 53.70 Risk Rating: 4.2
Trading Notes: Futs are flat to start off a new month of trading. The one theme continuing to trend higher is semiconductors. AAPL is falling out of favor with the market diverging lower, as Goldman Sachs takes it off its conviction list. I'm hoping for a more active month of [...]
Today's Reading for 2/29/24: 63.49 Current Reading: Tilting Bullish Additional Notes: Oscillator is starting to play catch up with the rest of the market, but under the surface, stocks still indicating overall that conditions remain unhealthy despite all-time closing highs for the bulls today. Interpreting the Chart: 0-10 is "Extreme [...]
Trading Notes: PCE came in line with expectations and the market has been ripping higher ever since. Small caps looking to lead the way. Bull flag highlighted in yesterday's stock market update, looks to be validated today, assuming it can hold it into the close. The biggest obstacle for the [...]
Today's Reading for 2/28/24: 61.74 Current Reading: Tilting Bullish Additional Notes: Over the last three days the range has been within a 1/2 point on this oscillator. That indicates little to nothing is happening in this market worth acting on. Still barely tilting bullish here. Interpreting the Chart: 0-10 is [...]
Trading Notes: It is getting difficult to trust the price action when volume has gotten this weak in the last three trading sessions. Outside of last week's NVDA earnings reaction, the market hasn't been able to do much of anything over the past two weeks. Heading into the open, futures [...]
