Psychology of a Turn

On Tuesday I used the George Soros quote “volatility peaks at turning points and diminishes as the trend becomes established” to suggest we might see larger volatility which could lead to a tradable rally in this severe downtrend. Yesterday we saw the release of “bad news” with a larger than expected reading on the CPI, … Read More

Psychology of a Turnaround in the QQQQ

Technical analysis is not perfect. It is not enough to be able to identify head and shoulders, flags, triangles, shooting stars, dojis, etc. and be able to make money on a consistent basis. There is a lot of technical lingo that many traders take as gospel, “support broken, becomes resistance” is one such example. True, … Read More