It's not enough to just buy stocks that you think are setting up well, or to just know the direction of the stock market in general. Far from it, you need to know the sectors and industries that are driving the stock market higher or lower. Which sectors to trade and which ones should be
Most of the sectors are showing sideways trading patterns. The market isn't entirely untradeable but it is getting pretty darn close to it. I'm finding the breakout plays to be more difficult than most, and instead focusing on the stocks that are forming a base and coming out of that base, following a sell-off. Most
Technical Analysis: Despite Oil (/CL) experiencing its biggest rally since March (+9%), the S&P 500 (SPX) sold off in the afternoon and into the close to finish in negative territory. Even with banks and oil companies soaring, it wasn’t enough to lift the market higher. Volume on SPDRs S&P 500 (SPY) had a strong bearish engulfing candle pattern after