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 [...]
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, [...]
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 [...]
Watch resistance at the 50 day moving average It had been acting as support prior to its break last week, but now the 50 day moving average has firmly converted itself into resistance overhead. Following the break last Tuesday, it has gotten close to pushing back above the 50 day [...]
Bull flag chart pattern now in play on SPX SPX is forming a nice bull flag pattern. It doesn't feel that way, because nearly every day the market opens, it sells off. If it finishes higher on the day, it is well off the highs of the day. But back [...]
