Gee, go figure. There is the gap up (as was noted in pre-market) and sure enough, there is the orderly looking flag down to potentially fill said gap. It's better…
From yesterday's Happy Gappy day trader post... "Even still, who’s to say today’s little expression of joy is not a gap to be filled quickly on the downside?" Boink, in…
Follow me if you will once again into the world viewed by a day trader. This is their world I assume, because they have to watch this stuff all day…
Let's play day trader and look at the 60 minute chart. The market gapped down and is now pissing off the bears as it rises to fill that gap. But…
As you may know, I have been bearish the Emerging Markets due to the big picture monthly chart breakdown by the MSCI EM index and iShares ETF. But in pulling an EEM/SPY chart I found this bottomy looking thing…
A simple progress report on SPY's bounce. The initial rally today put SPY back above the resistance line roughly equivalent to SPX 1975, which was Resistance #1 to the bounce…
China is again in the news as its Caixin manufacturing index hits its lowest reading in 6 years. Dutifully, world markets decline by around 2% on average. Clicking the graphic…
Using SPY for the US market and EEM for general Emerging Markets, I’d like to illustrate what I think may be in play on the short-term.
SPY shot up to the equivalent of our first S&P 500 target around 1980. This was based on lateral resistance (not shown on the chart below) and a 50% Fib retrace. We also have an ultimate potential upside (corrective) target equivalent to SPX 2040. That is the thick red zone on the SPY chart below.
A subscriber asked if I was still in the SPY short or had I stopped out? Answer: Still on the short. It had been noted that the stop loss would be above 208.61 (last week’s high). SPY hit 208.76 today and I have not even thought of letting that make me cover.
This is very similar to a previous update that worked out well shorting SPY. The parameters to short are very similar, the current level up to 206. A rise above…
So if you are a bull, you are buying here... right? Are you a bull? I ask that seriously, because I myself am not sure at the moment what I…
I have gone mostly sidelines with the seasonal stock market bounce stuff, but also am not short a single thing. With that disclosed, here is a gappy view of the…
Frankly, the more unwieldy this hyper frenetic market gets, the less inclination I have to do NFTRH+ updates, because the volatility has a funny way of breaking charts (with associated…
Per the regular update this morning, the EMA 10 (2056) was noted as key resistance on the S&P 500. Translating that to a bear trade on the SPY, we find…