Sell in May and go away? Not this year! There is nothing wrong with being aware of seasonal trends, news or opinions of experts in the media but it is all noise if price action doesn’t agree. The market is our master, we need to listen objectively to its message.
Coming into this week the markets felt like they were getting a little tired, and while we did see them pull back a little, but the real story is how shallow the pullback was. As I often mention, markets can correct by pulling back price wise or they can correct by digesting the gains […]
As I often point out, we only know what resistance is AFTER a level has been tested, the market is overwhelmed by supply and prices turn lower. It is actually a little pet peeve of mine when people say authoritatively that the market”will find resistance at xx level” or if they say anything about […]
Markets got the bounce we were looking for and now we have some key levels to watch for potential short levels. The time is not right to short still, the video reviews what it would take to see another leg lower and levels it could drop to. Be aware of all potential scenarios, […]
Below are 65 minute charts of $SPY $QQQ $IWM $SMH these charts show 3 different moving averages. Red = 5 dma, Blue = 10 dma, Green = 20 dma All of the moving averages are currently heading higher and that is a bullish sign.
SPY- broke resistance at 165 which should now provide our […]
Markets saw some profit taking and the near term outlook remains cautious within a primary uptrend. All year the pullbacks have been bought, will this time be any different? The video below examines key levels of support for this market to hold in order to hold off a more dramatic decline.
It was another great week for the bulls and short sellers seemed to be punished extra this week with some spectacular moves in individual stocks. The video below takes a look at trends, key levels of support and different scenarios for the market. Markets trends only end badly for those who fight trends, […]
Only Price Pays!
Click below to view the video.
Markets continued to shrug off “bad news” and climbed the wall of worry into new high territory. In continuing with the constant theme of only price pays, ask yourself if your returns for the first quarter would have been better if you had not known any of the news which was supposed to be so […]