• New All-Time Highs Awaits

    New all time highs is the next step for the market No doubt all this talk about 15% corporate tax cuts are fueling this market run. If you have been short the last two days…my condolences. But trading is going where the market wants to take you, and not being in the backseat strapped in

    By |Published On: April 26, 2017|3 min read|

  • Bull Flag Breakout People

    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 the charts. Yes, there

    By |Published On: April 25, 2017|3 min read|

  • Le Gap Higher

    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, the market has been

    By |Published On: April 24, 2017|3 min read|

  • Another Shot at the 50-day Moving Average

    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 500 5 points and, despite

    By |Published On: April 21, 2017|3 min read|

  • 50-Day Moving Average Providing Resistance

    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 moving average but each time

    By |Published On: April 20, 2017|3 min read|

  • Bull Flag Chart Pattern

    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 to the bull flag pattern,

    By |Published On: April 19, 2017|2 min read|

  • Dead Cat Bounce Trade

    Bear trap in the form of a dead cat bounce Yesterday proved that trying to play the short side of this market so far this month and not aggressively taking gains along the way was a futile approach. With just yesterday's dead cat bounce, the market managed to wipe out a majority of the losses

    By |Published On: April 18, 2017|2 min read|

  • Bear Trap Opportunity

    Absence of Nuclear Armageddon leads to a possible bear trap Futures are spiking higher this morning. And for good reason – the world isn’t engulfed in Nuclear War. North Korea tried to launch a test rocket, but that rocket blew up in its face before it could even get off the launch pad. Good for

    By |Published On: April 17, 2017|2 min read|

  • Price Support Holding On

    Price support holding on, moving averages are not On the surface, it wasn’t a huge sell-off for the stock market. Far from it. SPX finished about 0.33% lower on the day, which seems like a walk in the park at first glance.  But under the surface, things were far worse.  The breadth was far

    By |Published On: April 13, 2017|3 min read|

  • Trading Notes During Holiday Week

    My trading notes on this market To say that I have enjoyed this week of trading so far, or even this month for that matter would be an overstatement of the grossest of proportions (somewhere an English major is probably having fits with that sentence). The market has hardly moved, and when it has, it

    By |Published On: April 12, 2017|3 min read|