Trading Notes: Yesterday's heavy sell-off took SPX down over 100 points from the highs to the lows. Once again the bulls are back at it, bidding up overnight futures and taking what should have been a very bearish jobs number and spinning it bullish for the hope of buying the dip again today. How this
I closed out IWM at 206.66. Selling picking up heavy momentum across the board. Back to cash and will consider new positions tomorrow after the jobs #.
I closed AMD at 176.64. Bearish engulfing candle kicking in here and relative weakness vs other semis far too much for my liking here.
Trading Notes: The market is showing a willingness to bounce in the pre-market as all three major indices have key trend-lines they are trying to bounce off of, following yesterday's test of each, with SPY and QQQ setting up for an attempt at new all-time closing highs. I am open to adding another position to
Trading Notes: There's very little in the way of quality trade setups out there right now. Most of the charts that I am seeing are showing patterns of indifference. Breakouts that refuse to push higher. The issue as well with this market lies in the fact that, though we are selling off six of the
Trading Notes: SPX is gearing up for its sixth loss in the last seven trading sessions. Since the rally began in November, such a sequence has not been seen. But on the flip side, the depth of the selling has been very shallow. resulting in a -0.008% sell-off in SPY. However, caution is warranted as
I closed EXPE at 134.12. Hard break below the rising trend-line from the earnings gap low.