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Hello friends. Based on the current layout and the fact that oil is likely to be in the buy zone, I'm anticipating a green day on Tuesday. It looks like the pros entered a long position the end of the day on Friday. This my basic plan, subject to the opening development.
Hello friends. Those traders who caught the short side in the uptrend have some really quick hands and have been very lucky. I think that better opportunities are on the long side still, taking into account the longer term slope. Have a nice weekend.
Hello friends. It's probably hard to find out what the smart money is doing. I think some iconic companies have more overall predictive power than others. About 3 weeks later after the news was published we can see if there is any impact.
"Because of accounting rule changes, however, the conglomerate recorded a first quarter loss of $1.1 billion, compared to net...
Hello friends. I can't live by a Saturday without generating a bearish idea. After reading the news this one just crystallized. This is not trading advice but a potential scenario only. Thank you for taking a look.
Hello friends. We have a new poster child for the markets this time in the face of Small Caps. In my opinion there is still room to the upside and I would follow the current regression channel. If the channel breaks to the downside we can consider short positions for a 50% retracement sooner or later. Have a nice weekend.
Hello friends. After reviewing several major indexes today I'm slightly on the bearish side. SPY and QQQ look somewhat tired, DIA is in the middle, DJT is at strong resistance, NI225 is rolling over. Some true strength can be observed in IWM which is breaking out on its 3rd attempt. So this is my working chart for the rest of this week. Good luck trading.
Hello friends. Today we have observed some hesitation and weakness in the price action and in my opinion we should see a pullback in the next day or two. My goal is to sell as high as possible and to buy as low as possible. Thank you for taking a look.
Hello friends and traders. A quick look at the current ATR tells us one important thing: we're in a short term consolidation mode. The annoying triangle is expiring and these are often mutated into expanding wedges, megaphones, and other energy dissipating monsters. What is the practical application of this idea? Well, I suggest we explore the boundaries. Being in...
Hello friends. I probably couldn't find anything more scary than this pattern - a wolfy bear (the worst kind of bear out there) and in my opinion only. Every pattern deserves consideration. Have a great day.
Hi guys. I find this current Force Index reading extremely unusual. We have a change of the same magnitude as that of 2008 but this time there's no slow roll over. It's apparent that this is an extreme condition. As a trader I keep getting a feeling that something is cooking. I'd be careful with long exposure at this time. Thank you for taking a look.