It is tough to say, whether the bulls will string together a third consecutive week higher. They have come out of the gate flat to start the week, and unless you are trading in the financial sector, you aren’t likely to see much in the way of profits today. There’s a clear surge of volume
If you had looked at futures last night, you would have thought the bulls would have SPX up over 40 points heading into the final hour of the day, today. But no, we are at the same place that were were at when futures opened up at.
Good start to the week. The bulls are certainly trying to run this market through the 50-day moving average. So far it is providing some resistance for the bulls, and that means we'll need to keep a close eye on things, to make sure we are ready to book gains, should another sell-off occurs again.
Again, the dip was bought up right away this morning. There is some resistance with the Fibonacci 61.8% retracement and the underside of resistance in the short-term. However, if these two minor obstacles can be cleared, it should pave the way for a retest of new all-time highs, once again.
I’ll never trade this market with blind confidence, but the blindness of traders for now, keep this market soaring higher. And that makes it to where the only option is to trade this market from the long side.
Here's my latest rendition of the weekly long setups. Plenty of solid trade setups out there to explore. I am expecting, the way the charts are going, that if this market holds up, I'll be adding chemical stock. Think FMC Corp (FMC), Huntsman (HUN) and Tronox (TROX). Technology seeing some weakness today, but if this
It really quite amazing, even with the market down as much as 12 points, at one point, it continues to push methodically higher. I’m as skeptical as anyone about this market. It has been a good run, and you can’t help but wonder, “how long can this possibly go on for?” But right now, the
If only the bulls could hold the gap up Imagine the possibilities – a gap and run, maybe even a move of more than 1% (Gasp! Did I just say that out loud?) Nonetheless, the bulls seem to hate every gap-up to start the day, and spend much of its mornings erasing any good vibes
The bulls started off strong on the week, but the bears quickly faded the gap – nonetheless, there are trading opportunities out there and plenty of them at that. With this week being window dressing for the funds and considering how strong the first half of the year has been, I’ll be surprised if the
Russia Week for the Stock Market + Trade Setups The bulls are not starting the week off with a bang, but then again neither are the bears. The market is trading sideways, which isn’t all that surprising, and could see that continuing into Thursday when Comey testifies. Unless James Comey drops a massive bombshell (which