The thing about earnings is that you never know which way it will actually go. You see, earnings, whether The Street responds favorable or not to the report, rarely pays much attention to the technical outlook initially. I’ve seen so many excellent charts, very bullish charts in fact, get completely dismantled once the earnings report
This market, as much as it has consistently moved higher by 2 points here, and 3 points there, has managed to put traders and investors alike, to sleep. Traders these days, conveniently turn on their computer and expect the market to be either 1-2 points higher or 1-2 points lower. If it is the latter,
Here’s the updated list of short setups I am following. It’s a pretty good list and most of them have fared pretty well of late.Â
At this point, what good is a list of short setups. I keep them of course, and will post them tomorrow, but overall, they have been good for nothing really. The market continues to ramp higher, unabated. And if there is some selling, it is minimal, so that any quality sell-off never has any quality
The bulls are at it again here to kick off the last quarter of 2017. Not huge gains by any means, but still a good day nonetheless. My portfolio is doing really well too, with Olin Corp (OLN) rocking it with 6% in profits on the day.Â
Amazon (AMZN) has a massive head and shoulders pattern brewing. And it has the potential to get really ugly for this market if it confirms, because with it, will be all of retail that gets dragged down as well. For now, or today, I should say, it is bouncing, but if that bounce fails to
Not a lot to add here. The market still refuses to sell-off, so the long setups are the only way to go, for now. I even dabbled some yesterday to the short side with mix results. Right now, I just wait patiently for the market to give me the right opportunity to get short, and
I’m not sure how high, this market can actually get. It has already amazed me how high it has gone already, and wouldn’t put it past it to keep pushing price higher.Â
Talk about an exercise in futility – coming up with these bearish lists of trade setups have been a waste of time for about 99% of the time so far in 2017. Yeah, there are some good setups on there, and you’ll find in the list below there are some great setups.