A Less Formulaic Approach
The S&P 500 closed today down 0.07% to finish three ticks below 1160, at 1159.97. Based on that fact alone, you would think that today’s trading session was a wholly boring affair after yesterday’s massive rally. Indeed, many stocks took breathers today, including $AAPL. However, many
SPX BULLSIH RISING FLAG
We are now back to the top rail of the bullish rising flag. A break above the top rail will signal a repeat performance of the leg leading into the bull flag. Whenever u build a small consolidation pattern on either side of a NL that is a very bullish setup.
Resistance Ain’t What It Used To Be
After digesting the move higher in early September for the past two weeks, the market illustrated today that the summer highs, of roughly 1130 on the S&P 500, have now become strong support. Including yesterday, the bears had every opportunity to take this market back down into the choppy and
INDU POSSIBLE H&S SHORT TERM TOP 60 MIN LOOK
We have been watching the evolution of this 60 min short term top playing out over the last few days. Today we broke the NL and tested the NL symmetry rail for alittle backtest to the original NL, ping pong move. NL should now act as resistance.
Farmville Of Finance: Who Are Our Users?
A quick look at today’s stream shows the fervor of trading throughout the day. Today we shorted the SPY at a price of 115.25 then closed that trade around 113.54. You will notice we shorted almost .50 cents above the high!! How you ask? That is the magic of trading with the Farmville of
Setups For Week Of 10/04-10/08
Looking at a daily chart of the S&P 500, it is easy to see why many traders assume that we have been topping out just like we did at various points throughout the summer. The market has seen a sharp rally for several weeks, followed by a long period of consolidation, just like we saw in June and
Oldest Most Pessimistic, Youngest Most Optimistic About Economy
Overall, Harris Poll results show that consumers in general do not expect dramatic change to their household’s financial condition in the next six months. Twenty-two percent of consumers think it will get better and 28% think it will get worse, with 50% thinking it will remain the same.
SPX TRYING TO CONFIRM THE BREAKOUT TODAY
The SPX is backtesting the breakout that occurred roughly 3 weeks ago. Today's low came within a whisker of a complete backtest. The neckline is a low risk entry point as its a perfect line in the sand if something didn't go according to plan.
Government Almost Forcing Investors To Buy Everything
Since the beginning of the financial crisis in the fall of 2008, the United States government has been on a non-stop stimulus, quantitative easing, and asset support campaign unprecedented in scale and reach.Think about that for a second. Over the past 2 years the United States (along with several
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