Another relatively quiet trading session on Wednesday with a slight improvement in range above the prior day…Still at the historical low end of average daily range and nothing to get excited about. It clearly seems that investors/traders have simply “Walked … Continue reading
As the S&P continues it’s slow grind higher it is supported by improving Advance/Decline Lines together with a bullish Inverse Head and Shoulders continuation pattern. Small Caps have been the recent laggard, but there are now early signs of relative … Continue reading
Good Morning Traders! Welcome back from an extended Memorial Day weekend…Hope you enjoyed some R&R. I spent the weekend with friends enjoying the Northeast’s first major Regatta colorfully named: FIGAWI to kick off the official start of summer season on … Continue reading
In yesterday’s DTS Briefing we highlighted that price had reached initial 3-Day Cycle targets, and that any additional strength could carry higher into 1892.25 – 1894.50 zone. The actual high of day was 1894 even…so effectively a dead hit. Bullish … Continue reading
Mr. Market’s Three-Day Cycle Rhythm of establishing an extreme low swing followed by an up swing to an extreme high has hit on cue for several cycles now during current consolidation phase. The current swing is bullish having reached initial … Continue reading
The Title Song..”Same Old Song and Dance”..by Aerosmith comes to mind as I review recent price action this morning. Price pushes higher to key resistance…chop…chop..Buyers get their fill..and WHAM!…Algos enter and smash price lower to key support…chop…chop and the “same … Continue reading
As we have seen so often this year that every deep pullback in price into Value finds renewed Responsive Buyers. As well, when price reaches upper extremes, buyers dry up and Sellers Respond. This action simply is Range Consolidation between … Continue reading
Last week’s “Island Reversal” High and subsequent swing lower remains within the overall context of a normal retracement pattern within the larger bull uptrend. Also of key importance is that price tested and remains above the “2014 WVAP”…at 1858…Each retracement … Continue reading
This week’s auction failure on retest of April 4th high reinforces that level as resistance. Yesterday’s sharp sell-off creates an “island top” type formation at the high end of multi-day range. The recent pattern has been to push higher creating … Continue reading
Short-Term Traders had high expectations that the April 4th high would be penetrated, setting up for an potential explosive move to 1900…BUT the “Other Time-Frame” (OTF) Trader did not play ball, as “Buyers Fizzled and Prices Drizzled” lower in a … Continue reading