Trading Block

Trading Notes: The hotter than expected CPI report had little to no effect on the market yesterday, sending it still higher. SPY remains inside an extremely narrow bearish wedge, and yet to break through the resistance overhead. As long as that resistance remains in place, it will be difficult for the market to make any

New Long Setup: SMH I BOUGHT SMH at 223.48 My stop-loss: 218.95 My Target Price: 240.00 Risk Rating: 3.9

Trading Notes: CPI came in slightly stronger than what the street expected, which puts pressure on the Fed to push back further expected rate cuts. For the most part, the market is unchanged since the report came out, having given up most of the gains so far. Waiting at least 30 minutes this morning before

Trading Notes: Strong selling on Friday with heavy weakness in semis leading the way. These significant down-days, since November have been one-off selling events, with price quickly recovering. That will be tested again today, with futures pointing to the downside. I do expect a solid attempt to buy the dip at some point, and if

Trading Notes: Futures are popping on a strong employment number, which is difficult to really gauge if it is strong or not, after the 50% downward revision of the previous month's employment number, suggests these numbers aren't reliable. Strong rally looking for continuation to the upside today, with price on SPY continuing to hit up

I closed 1/3 of SLB at 50.66 for +2% profit.

Trading Notes: The difficulty in finding quality trade setups in this market, can't be emphasized enough. I'm combing through the most charts, I've ever looked through on a daily basis, and I'm finding less and less that looks attractive to me. We're in a stage of the market where stocks that are already parabolic, like

Trading Notes: Last night, and again this morning, I combed through my watchlists and didn't find anything that I really liked and wanted to add to the watchlist. One particular chart that I thought has some potential is TNL, but the volume is too light for my liking, so I won't be personally adding this

Trading Notes: Monday's price action lured traders in, with weakness being masked by the continuing rally in semis, only for an end of day rug pull in the final hour of trading to send prices careening lower on the indices. Pre-market action has indices pushing lower again, and that is with NVDA trading higher still.

Trading Notes: Market setting up for a flat open, with traders still flocking to semis and in particular, to NVDA. SMCI was added to the S&P 500 after Friday's close, and personally, I think that is going to be something that comes back to haunt SPX, by swapping out a growth stock for a company