Markets Still in Primary Uptrend

Markets are still in primary uptrends but are showing short term reason for caution, below are some levels to keep an eye on. $SPY tested support near 15400 yesterday, breaking below that level brings about the possibility of a further decline down towards 15300 which is prior resistance and a 50% retracement of the Feb … Read More

Uptrends Still Intact

The correct focus for these markets continues to be to monitor the health of the rally by the ability of support levels to hold, not to try to pick a top. The market has given us clear levels of meaningful short term support and as long as those levels hold, the trend remains intact. Key … Read More

Stock Market Video Analysis for Week Ending 3/8/13

After the volatility we saw 2 weeks ago it appeared some consolidation was due for the markets but buyers showed up once again and longer term uptrends continued to exert their strength. The higher we go it seems that more people are focused on picking “the top.” The correct focus should continue to be objective … Read More

Time For a Market Pause?

The primary trends are still higher and while it is tempting to think the market is ready for a more meaningful pullback, there is zero evidence that a larger pullback will develop. Of course that doesn’t mean we should just blindly trust the trend, it means that we need to remain focused on price action … Read More

Stock Market Video Analysis for Week Ending 2/8/13

The markets tested and held key levels of support and the market surged higher once again. Picking a top is a suckers game and panicking out of long positions while the uptrend remains intact is a frustrating experience. Learn to listen to the message of the market. The market has given us temporary reasons to … Read More

Market Momentum Slowing But Uptrends Remain Intact

$SPY still in uptrend on daily timeframe but momentum has slowed and it is below the 5 dma and support from earlier in the week at the 15050-15060 range, near term cautious. More important support is still found between 14920-14975, holding above this area keeps the market “innocent until proven guilty” $QQQ stuck in the … Read More

Stock Market Analysis for Week Ending 2/1/13

Only Price Pays! I repeat that phrase all the time because I constantly see comments on stocktwits, email, etc that tell me why the current market action doesnt make sense. The past couple of weeks I have been hearing that the markets had topped and a correction is imminent. The theme I have emphasized throughout … Read More