If you are looking for a trend on the daily or any clue as to the direction of this market, you won't find it by looking at the daily chart on the S&P 500 (SPX). In fact, you will have to drill down into the intradays, namely the hourly or half-hour chart to find what
I’m going to let the chart do the talking on this post, as I have detailed much of what I am seeing on Apple (AAPL). Essentially, I think there is more downside to the stock than there is upside and that a pullback or even gap fill from late July is possible. I just wouldn’t
Yes, I am a faith watch-list developer of all things long and short. But there can’t be that many bears left in this market. I mean, seriously, what has the market done for you at all lately that says, “I need to be net-short?” Absolutely nothing! On the flip side the last two months in
The market is back to its up/down/up/down ways, so there is some uncertainty regarding current direction it wants to take. But there are some clear price levels to watch going forward if you are bearish. For one, you should be watching the 20-day moving average. So far it has held up well and will need to,
There is a lot that could go bad this week. Apple (AAPL) earnings are after the bell, then you have Amazon (AMZN) later in the week. Not to mention the slew of economic news from the Fed tomorrow at 2pm eastern when they release their FOMC Statement and then again with the GDP to close
The market is trading sideways the past couple of days. I don’t see that being bearish at this point. Especially when you consider the ramp the market has been on since the Brexit sell-off. The can change in the favor of the bears, but first some technical damage needs to be done and when looking
I provide short setups – because it is in my nature to always have a list of them handy regardless of the market conditions. Now that we have broken out of that two year range that the market has been in since 2014, I don’t see a reason to be net-short on this market. If
Choppy trading session as the bulls nor the bears are holding on to any king trading edge here. This is in large part due to the suspense that the Brexit vote has the market in. Odds seem to point at them staying, however polls today show the “leave” vote evening up the score. Where do
I’m not short anything yet. Instead, what I am waiting for is the market to give us a bounce that alleviates some of the selling pressures seen over the last four days of trading and set up the stocks listed below, in the most minted kind of way. I say that, but of course the
At this point, the bearish case doesn’t have many proponents supporting it. For me, I just go where the price takes me and right now, it isn’t taking me lower, as a result, I am trading long. Today is fairly significant for the bullsA if it can hold the current price gains into the close