October’s sell-off had plenty of drama. Headlines and tons and tons of volume and extreme oversold readings on pretty much every indicator that ever existed. November hasn’t been anything like that, which has been what has made it so complicated. The breadth has not been bad at all. In fact, the T2108 indicator, which measures
There are some pretty glaring divergences in this market right now (sound familiar?) I thought it would be interesting to show the difference in the charts right now between Apple, (AAPL) which is hitting new all-time highs and breaking out of consolidation today:
My Swing Trading Approach I will look to be playing the bounce, should it hold through the first 30 minutes of trading today. I will only add 1-2 new positions depending on the strength of the market today. Indicators
My Swing Trading Approach The sell-off on Friday, cast a dark cloud on the market as Amazon earnings was unable to lift the market as most expected. I am out of tech for now, and will will keep my portfolio light going into the week, and will only add new positions if the market can
My Swing Trading Approach Follow the trend and the market intraday action. If price action is favorable and the setups are there, I’ll take them. Meanwhile, I plan on raising the stops in my open positions where it is possible to protect profits. I expect a low volume day in the market today and that
My Swing Trading Approach I’m focused on managing my existing positions coming into today and the risk associated with each of them. Tech will negatively affect the market today, due to Facebook (FB) earnings. I’m not against adding more positions today, but the market will have to show it is willing to look past FB’s sell-off
A divergence is popping up on the charts that was the same as the one seen back in late January. Of course that divergence ultimatley led to the massive -10% correction off of the all-time highs.
The bulls can make it happen here as April quickly comes to a close. Last week the bullish reversal signal came through for the market, and while, it hasn’t been a clean ride, some substantial improvement in the market’s technicals can be had here.
T2108 bullish divergences still in full effect I don’t tend to post the T2108 chart all that often, but I have lately because it does a much better job of forecasting and determining market direction following a major market sell-off.
I’ve really been impressed by the start that we have seen here in 2018. Really an amazing start, and the best opening week that I can remember having to a new year, in a very, very long time. In fact it is the best opening week for the stock market since 2006.