Trading Block

Trading notes: A new start to the month and historically October has a pretty solid track record, with SPY averaging about +0.79% in average returns. Communications and Real Estate are the only two sectors with a rough track record (-0.92% and -0.59% respectively). While the market managed to scorch higher yesterday afternoon, much of it

The website was down this morning preventing me from being able to send out the morning newsletter (all is now restored)... Trading notes: I've added back META to the Setup-Phase this morning, as it managed, for a second straight day, to hold a support level dating back to March of this year. As for the

Trading notes: Strong action in futures overnight as a potential follow on to the bounce seen on Friday. Some fears about a government shutdown, but for me, I don't pay too much attention to it as I have seen it rarely become a problem for the market, unless the shutdown actually happens and it becomes

Trading notes: Yesterday's sell-off took price back down to the 20-day moving average of SPY where it managed to find support and provide a moderate bounce, however much of the bounce was a result of strength in AAPL and NVDA. The breadth never really improved, but we are now at some technical support that was tested yesterday at

Trading notes: SPY is looking to pull back for a third straight day. With that SPY is looking at testing the lower channel band at the open, with support coming in at 657. If support holds and can reverse course here, that will be huge and provide an opportunity to get long additional setups. However,

Trading notes: Yesterday was a bit of a rug pull for traders, even though SPY and QQQ were trading lower early on, the "everything else" trade was shaping up to be a good one, until the afternoon rolled around and the breadth went from +2:1 to slightly negative. It took nearly every thing down with

Trading notes: You have Jerome Powell speaking at 12:35pm ET today, which could lead to some heightened market volatility, depending on what he says. Overall, the market remains in the euphoric stages with traders and investors, without regard to risk, continue to dogpile into tech and AI related stocks. Right now, the biggest challenge is finding

Trading notes: The non-mega cap stocks are looking to continue the selling into today, following Friday's weak showing. While SPY and QQQ continue to push to all-time highs on Friday, it did so, on yet again, dismal breadth with two stocks selling off for every one that advanced. That signifies very narrow leadership and something

Trading notes: I've been playing this week very conservative in terms of adding new additions to the portfolio, and look to continue that into that into today. The market has had a pretty good run here in September, so far, but it also remains extremely overbought on nearly every time frame that you look at.

Trading notes: The Federal Reserve officially launched its easing cycle by cutting interest rates by 25bps yesterday. Similar to the last time we saw rates get cut last year, it resulted in a bounce in the treasury yields, which appears counter intuitive initially, but reflects more on the bigger picture of expectations regarding additional rate cuts