We got the pullback and now markets are getting to levels which will be critical to form support if the market is going to be able to sustain a rally. I will be out for the rest of the week but may have a wrapup video on Friday.
We were hoping for a pullback as the markets were extended in the short term and now key levels are being tested. There are no signs of stability yet, but the levels we were watching – $SPY 125 $QQQ 55.60 $XLF 1295 are being probed and we have the rising 5 day moving averages (which … Read More
Today’s subscriber video is open for anyone to view.
It was a constructive week for the markets as higher lows were formed and some key levels were taken out ($SPY 200 day moving average, $QQQ resistance at 56.00, $XLF resistance at 12.80, $SMH 30.50) The video takes a look at these markets and some possible scenarios for what is ahead including the potential for … Read More
The $QQQ is still the weaker market and remains under the downtrend line as well as below the larger level of 56.00 but markets are showing improvement today. The higher low has clearly been formed in the $SPY $XLF and $IWM and we will now look for the prior resistance levels of 124 (SPY) 1280 … Read More
. SUBSCRIBERS can access the video through the premium tab. At 2:20 PM Eastern on Thursday December 22 (tomorrow), I will be joining Barbara Cohen and Geof Smith for “Traders Talk” which is hosted by DIVERSIFIED TRADING INSTITUTE (DTI) for a live talk/interview on topics such as -What is the setup that you’ll jump into … Read More
At 2:20 PM Eastern on Thursday December 22 (tomorrow), I will be joining Barbara Cohen and Geof Smith for “Traders Talk” which is hosted by DIVERSIFIED TRADING INSTITUTE (DTI) for a live talk/interview on topics such as -What is the setup that you’ll jump into unhesitatingly…knowing that the odds are stack in your favor? -Did … Read More
The larger levels we were watching as potential resistance did in fact prove too difficult for the market to overcome. Yesterday we noted $SPY 123.50-124 $QQQ 56.00 $XLF 12.80 and those numbers were never exceeded, in fact the high print on the $QQQ was 56.00 . The Nasdaq is the weaker market today as its larger percentage … Read More