Yesterday’s Trade Strategy was spot on looking for early weakness with potential support coming in at 1681.00. Here’s excerpt: “Prior Day Low (PDL) 1688.75..So look for this zone to offer some initial support. IF price fails to find support, THEN … Continue reading
This past Friday (8.2.13) marked a key Gann Square-of-Nine (SQ9) “Turn Date” completing a full 360 degree short-term cycle. Whether this date marks a more significant turning point only time will tell…For now, Friday’s high does mark a short-term tradable … Continue reading
Price continues to trade in a relatively narrow range with continued low volumes and volatility. There is historical evidence that summertime is particularly slow, so just accept this fact and remained focused on trade setups that Mr. Market offers. The … Continue reading
The grind “up” continues unabated with “sellers strike”. I guess the Fed’s kool-aid is mighty refreshing. Once everyone has gotten drunk from the punch bowl, we know what happens then…next comes the hangover. But until that happens, “Party like it’s … Continue reading
Fed released their Policy Statement and S&P reacted with no fewer than three 10-handle plus moves down, up and down within the Session. Buying Dips and Selling Rips at extremes was the call of the day as we posted in … Continue reading
The “Dog Dayz of Summer” are definitely here…Low Volumes, Low Volatility, Choppy Range Action. As traders we must learn to accept what Mr. Market gives and take full advantage when an opportunity exists, since it may be a bit longer … Continue reading
Trade continues quiet and rangebound as Fed begins it’s two-day meeting. Investors/Traders await further clarification on Fed’s intents to begin it’s QE Tapering process…Last month Big Ben released a “trial balloon” and the market’s response was not to favorable…He then … Continue reading
Having reached a peak last week near 1695 the S&P has pulled back to form support at 1670. Price action is now “bracketing” the upper and lower edges. This mid-summer consolidation is anticipated to continue until either 1665 is violated … Continue reading
Price has consolidated sideways for two days following new marginal high last week. This action is a “slow grind” for traders…Support structure remains intact, so path of least resistance is higher as bulls continue to target the 1700 handle. Today … Continue reading
The summertime slowdown is in full force with narrowing ranges and volatility. Perhaps it’s a good time to plan your “beach party” and go have some fun in the sun. If you are a diehard trader that just must stay … Continue reading