• May the Fourth Be With Your Trading

    The Fourth is Strong with this Market For a moment there, just a moment, it looked like the market was going to lose its marbles and actually experience a legitimate sell-off yesterday. But nope, it didn’t and now you have “May the Fourth” playing Jedi mind tricks on the Wall Street bears in the pre market

    By |Published On: May 4, 2017|3 min read|

  • Going Nowhere Slowly – Stock Market Remains Range Bound

    This stock market can’t break out of the range bound price action The price action has become very dull among the indices. In fact, this is the tightest 6-day trading range in the last 23 years. For many of you, that is before you ever started trading. Needless to say, what goes up, must come

    By |Published On: May 3, 2017|3 min read|

  • Sideways Trading Leans Bullish

    S&P 500 remains stuck in a 5-day sideways trading range While the S&P 500 (SPX) can’t get out of this 5-day range it has been stuck in, the Nasdaq is still rocking higher. There is very little reason to not be riding the stocks in this index as your primary focus. The majority

    By |Published On: May 2, 2017|3 min read|

  • Breakout of Consolidation Highs

    Breakout of Consolidation a Must SPX had that opportunity on Friday to really close out the month strong and breakout of that consolidation pattern that is more evident on the intraday charts than it is on the daily chart. Instead the market gave traders a gap and crap the entire day. Very little bounce and

    By |Published On: May 1, 2017|2 min read|

  • Nasdaq Rally Like Its 1999

    Nasdaq Rally + Euphoria Knows No Bounds Nasdaq is blowing the roof off this joint and I wish that when you clicked on this post to read, that I could have had Prince singing his infamous "1999" song. It would have been a nice touch and really brought the point home that I'm trying to

    By |Published On: April 28, 2017|3 min read|

  • No Cigar on New All Time Highs

    Pulled back right before making new all-time highs It has been almost two whole months since we last established new all time highs (3/1) - which really is an eternity in today's Trump-induced market rally. Yesterday, SPX had its chance to do so, the Dow didn't even get close, and the Nasdaq had a hangover

    By |Published On: April 27, 2017|3 min read|

  • New All-Time Highs Awaits

    New all time highs is the next step for the market No doubt all this talk about 15% corporate tax cuts are fueling this market run. If you have been short the last two days…my condolences. But trading is going where the market wants to take you, and not being in the backseat strapped in

    By |Published On: April 26, 2017|3 min read|

  • Bull Flag Breakout People

    Shockingly the market didn’t sell-off the bull flag in the afternoon and maintained the breakout instead That afternoon sell off has been strong of late, but the bull flag held strong on the charts and the breakout is still in play. Should you be short right now? Not according to the charts. Yes, there

    By |Published On: April 25, 2017|3 min read|

  • Le Gap Higher

    Market breaks out of bull flag on French Election Results Not a bad way to start your week, if you are long on the market (and yes, I am long on the market). It all goes back to what I have been saying in these morning writeups, and that is, the market has been

    By |Published On: April 24, 2017|3 min read|

  • Another Shot at the 50-day Moving Average

    Watch resistance at the 50 day moving average, take two Everything looked fine and dandy yesterday for the market, and resistance at the 50-day moving average that I talked about in yesterday's trading plan, was going to be broken. But with 10 minutes to go, the bears dropped the S&P 500 5 points and, despite

    By |Published On: April 21, 2017|3 min read|