Trading Block

Trading notes: SPY is looking to open up noticeably weaker this morning, but in the current market environment we are currently trading in, I expect the bulls to test the waters yet again to see if they can aggressively buy this dip. It is a tactic that is essentially undefeated since late March, so it would

Trading notes: SPY is looking to make it a fifth straight week of monumental gains and semiconductors (SOX) is looking to make it 19 straight days without a red candle (a record already). Tech is an area I am avoiding simply because of the heavy overbought nature right now of that sector (though IGV is

Trading notes: Overnight trading has seen prices attempting to establish another round of new all-time highs, following news of Iran sending a delegation to Pakistan for peace talks this weekend. At the same time there is news that Iran is laying mines still in the Strait of Hormuz. As for my current trade in XLE,

Trading notes: Coming into today, you are seeing some pullbacks that have already started in the defensive sectors like Staples (XLP), Utilities (XLU), Healthcare (XLV) and Real Estate (XLRE), consolidation in the growth sectors like Industrials (XLI), Financials (XLF), Materials (XLB), and Communications (XLC) and a small pullback in Discretionary (XLY). Then you have a bounce

Trading notes: A decent amount of buying heading into the open that practically started immediately after the market closed yesterday. The waters are quite muddied with news coming out of Iran, where you can have five completely contradictory news pieces within a one minute span of each other, making it nearly impossible to know what is

Trading notes: I would say that at this point, there isn't anyone who isn't bullish on this market. It has quickly become a very crowded trade as everyone is chasing after one of the most improbable moves in the stock market's history. Coming into today, VIX is is about 8.8% higher this week, and oil is

Trading notes: News over the weekend of Iran opening fire on vessels attempting to cross the Strait of Hormuz has the ceasefire between the US and Iran on thin ice, and as a result, the market is selling off this morning. However, it has managed to recover about half of its losses as it gears up

Trading notes: Futures are engaged in another overnight bender, taking price even further beyond the previous all-time highs established in January. The news at this point keeps trending towards a continued cease fire in Iran, and each news piece, whether recycled or not, lifts the market higher as a result. Under these conditions, the setups aren't

Trading notes: And just like that, we are back at all-time highs. SPY has managed to rally from the start of a correction to all-time highs within 11 trading sessions, which is something never really seen before, and lies within the 99.7 percentile of all market moves over that period of time. So the dilemma for

Trading notes: At this point, because of the extent of the rally off of the lows from two weeks ago, the market isn't any longer looking at a downtrend being in place any longer. If there was to be a top here still to be had, it would have to be something similar to a double