As we have continuously seen in recent past is that each retracement of 1 – 1.5% (25 – 30 handles) Bulls step in to “buy weakness”….Bears become “trapped shorts”…price rallies back to prior highs. This action is keeping the current … Continue reading
Good Morning Traders Worldwide. If there is one “thing” that traders/investors loath, is “uncertainty”…especially when it involves country or region unrest. Traders tend to sell first…figure the ramifications out second. Such as with this morning’s 30 handle overnight sell-down as … Continue reading
Pressure continues to build for an upside breakout, but before getting too excited, we need to keep recent action in perspective. Uptrend has been very symmetrical as buyers respond to any significant pullback…Value Area has also been slowly creeping higher..certainly … Continue reading
In yesterday’s trade strategy, trade scenario #2 played out nicely…Here’s an excerpt: “Failure to convert 1851 forces further consolidation action within yesterday’s range parameters. Violation and conversion of prior day low (PDL) calls for reassessment of bullish scenario, targeting 1829 … Continue reading
Monday’s breakout was followed up by a neutral consolidation (inside day) which so far has held the important 1840 handle. Continuation of this pattern should set the stage for another move higher in the coming days. It’s critically important that … Continue reading
Even Captain Ahab knew that Moby Dick could not stay submerged forever and had to come up for air..Such as with the recent price action of the S&P. The Bears have tried multiple times to keep price “submerged”, only to … Continue reading
There continues to be a “battle for breakout” at the 1840 – 43 zone…Multiple attempts have not been successful, but the pressure continues to build. Resolution should come this week… Failure to convert 1843 on Friday’s options expiration resulted in … Continue reading
Greetings Traders, It’s been two-weeks now since Polaris Trading Group’s (PTG) inaugural launch on February 10th and I’d like to personally thank everyone that has visited the PTG Live Trade Room and would like to extend an invitation to … Continue reading
Yesterday’s anticipated demand zone (1818-21) proved to be the correct level from which to buy the pullback. Wednesday’s intra-day reversal without a confirming following-thru day only provided the bulls and opportunity to “buy the dip”. We cannot argue with the … Continue reading
Excerpt from yesterday’s post..”Prior Cycle targets have already been achieved, so today can either go the way of bulls or bears…” “…but as we know markets can reverse at anytime, so we remain disciplined with our trading.” As we opined … Continue reading