Trade Setups

Quite the descriptive title, I know, but the market is rallying hard right now, and is doing so on very strong and above average volume.  No doubt there is some end of year chasing going on coupled with FOMO, and a dash YOLO, I suppose too. There are gaps all over the charts popping up,

Some serious long-term resistance overhead for this market, and that is probably going to stunt growth going forward in this market.  That’s not me calling for a major sell-off, because I’m not. In fact as long as the Fed keeps QE4 going, this market will keep going up right along with it. However, the gains

An 84 point sell-off from last Wednesday’s highs to today’s lows. The stock market is freaking out over manufacturing data (again) and Trump’s comments (again) on a China trade deal not being settled, possibly, until after next year’s election.  Seriously, were we not being sold on the idea about 200 SPX handles ago on

Up 8 of the last 9 market sessions, SPX still printing new all-time highs practically every minute of the day.  A sell-off literally cannot last longer then 5-10 minutes. There is no fear of risk in this market, and while stocks under the surface are not doing nearly as well as the overall markets are

First off, a big salute to the veterans who read this blog and are either serving this country or have served in the past.  There was a lot of commotion outside my office window this morning and then heard all of this great patriotic music and so I looked and outside a parade was starting.

The FOMO is undeniable – it is best seen every day in the final minutes of trading.  The buyers suddenly go into hyper-ventilating mode, and the bulls run the table, out of fear they will miss out on another gap higher. I really don’t know how long this can go on for, I trade off

No surprise that this market keeps grinding higher.  I mean, we have President Trump telling us every day it is going higher in his Daily Market Forecast, and the algos love him for it, triggering them into a buying frenzy each morning. The market is still stricken with low volume and at levels that should

Why am I not getting long you ask?  We have literally sold off the past five times that we have gotten right up against or barely established new all-time highs. Today $SPY is showing one of its lowest volume readings probably in years. If the market is serious about some major price expansion, the volume levels would

Extreme light volume prevails once again on Wall Street No holiday, no half day of trading, just a very, very boring and uneventful day. With the big trade news having come and gone, and really not leaving traders with much to go on, there seems to be an indifference with this market today. I am

Light volume prevails on Wall Street during Rosh Hashanah While Rosh Hashanah ends tomorrow, you can expect the volume today and tomorrow to be rather light. I’ve closed out my sole short position and added a long position to the portfolio and plan on staying put from here on, until the rest of the day.