The market doldrums – they have been brutal of late. Not because they are creating losses, but because momentum isn’t necessarily being sustained. The market gains in the morning quickly fade into the afternoon, only to provide a token rally in the final 15 minutes of trading.
The Dow couldn't go up for ever, it had to experience a day in the red in the very near future. Today the time has come, and it is making its presence known, by wiping out more than two day's worth of gains for the bulls and to retest the breakout level on SPX's declining
Whether Trump plans to pull out of the Iran deal remains to be seen. Personally, I think he pulls out, but you have conflicting reports between CNN, who says he stays, and Bloomberg who says he leaves.
The bears were holding it together early on, and once we made new lows on the day, I’ll admit, it sucked me in. I have three long positions, and I went ahead and started to curb my long exposure by adding SDS (a 2:1 inverse of the returns on SPX).
Sometimes I think it is pointless to convince someone not to short stocks into earnings, when they already have it in their blood to do so. The worst thing that can happen to these traders is to have a string of winning trades related to shorting a stock ahead of their earnings. It gives them
This is a break from the usual nightly watch-list. I've put together a video about trading stocks, namely shorting stocks with the 200-day moving average in sight. Enjoy!
‘Da Bears are back in in charge. And just like that we are looking at another test of the 200-day moving average on the S&P 500 (SPX). On the Nasdaq 100 (NDX), you have a head and shoulders pattern forming, though not yet confirmed.
My Swing Trading Approach I am not opposed to adding more trades to the portfolio today, but the market needs to be favorable for it to happen. We could see a pullback, and I don’t want to buy ahead of that, even if it is likely to be just temporary. Indicators
My Swing Trading Approach The bulls are regaining a firm grasp on this market and the bears are being forced to cover in mass. I will look to add 1-2 new positions today. Indicators
The market has had a solid seven days of upward price action. Not every day has been ideal or even bullish, but the overall picture has been.