• NASDAQ

Mixed day in the market overall today, which doesn’t give us much to write home about. Nonetheless, a positive retail report along with some acquisitions in the news created some good feelings across the market, while Wal-Mart reported solid earnings but left questions as to its future earnings growth. Overall, the NASDAQ appears to be consolidating at its highs, which is something that we like to see – look for a possible entry once the NASDAQ breaks out of its range. We would also prefer that the index comes off of its overbought levels some before attempting its next run-up in the markets. Still a lot of short interest out there which could causes some exaggerated price increases when the bears run to cover their positions. S&P chart is the best that once could ask for, testing the trend line and creating three “higher-lows” on separate occasions which provides perfect set-ups for the traders out there.

Now to the NASDAQ and S&P Charts…

NASDAQ

S&P

You Might Like

  • January Barometer: As January goes, so goes the year.

    January Barometer: As January Goes

  • Swing Trading the Holidays

  • Managing portfolio volatility.

    Managing Portfolio Volatility In Your Swing Trading