for the Fed madness CHANGE YOUR CHANNEL
The Qs struggled with the VWAP early on and then broke above it and found support which led to another push higher. The market is getting extended here and is now at the 61.8% retracement of the year high to year low. Time to raise stops on longs.
The markets are trading above key levels and if they can hold up here (no reason to think not at this point) we could see the beginning of a powerful rally. A pullback below the noted levels and then strength would be provide an ideal entry, but there may be too many people looking for … Read More
The worst sorrows in life are not in its losses and misfortunes, but its fears.~A.C.Benson
A review of previously mentioned ideas and a couple of new ones.
The market failed to push past resistance and is back below VWAP as the choppy action continues.
It is still early in the day and breakouts usually don’t occur til later, but this market feels like it is ready to push past the 2960 level. The 5DMA held as support for a right shoulder and a push past 2960 could get this market going nicely. Be aware of the possibility of a … Read More
2960 continues to define short term resistance in the Qs and unless the market can recapture that level all rally attempts should continue to be viewed with suspicion.
Opportunities are usually disguised as hard work, so most people don’t recognize them.~Ann Landers