Video Stock Market Analysis for Week Ending 5/17/13

It happens every single day. Someone tells me the market is “up too much” or that it “doesn’t make sense”, or that “it’s just because of the Fed” My response is almost always the same. I say, let’s just be aware of the risks of a pullback, make sure we aren’t too exposed and to manage risk in open positions. We also need to find good low risk, high probability setups and guess what? We find them every day on Alphatrends. The fact is “only price pays” I say it all the time…

We don’t get paid to theorize about why the market is up or down but we get paid to be right about price action. You cannot take volume, common sense, opinions, etc. to the bank. Keep the job simple and consistent, if the trend is up it is “innocent until proven guilty.” The video below reviews some key levels to watch for signs of potential weakness to develop, right now the trend remains higher on all timeframes. Why fight it?

ETF Close May 17 2013