In a previous post I talked about this being a risky time to buy for a long term investment in the S&P, Emini, SPY, or MES. Despite what the media may want you to believe - this market is no longer in a strong bull trend. If it was, prices would break out strongly above previous highs. But what is happening instead? Prices go mostly sideways to down,...
SYMC is at the bottom of a bull flag trading range and in the midst of an expanding triangle. Prices have been volatile the past two weeks, with gaps up and down. Both sides are fighting for follow through. The bulls have a slight advantage because we are near the bottom of a bull flag trading range. The bears need a strong breakout below the 16 higher low. ...
S&P New All Time Highs - Risky Buy The Emini and S&P 500 made a new all time high again today, leading many to believe this market is still strong. In some ways it is, but it is more important to realize it is also in a bull flag trading range. This makes it a risky place to buy up here. This is where strong bulls who bought lower will start looking to take...
Trading is hard work - But no one wants to hear that it is hard work. Everyone wants a short cut. A short cut does not exist. If it did - everyone would use it and the market would cease to exist. Everyone who starts out trading is lured in by the profit potential. You might get lucky and make a quick buck. But over time you soon realize that trading is a job,...
Bear breakout of TSLA, but increased and climactic selling last week and gap down this week. Likely a sell vacuum test of the $180 low. The $240 gap above will likely get filled over the next few weeks to months. The bears need a strong breakout below 180 and 140. Otherwise bears will start to take profits and bulls will re-establish long positions. What...
The Emini reversed down from a failed breakout of the all time high, and nested wedge reversal. There are trapped bulls who bought the May 3rd high who want out. Most bulls used the new high to take profits as the market is likely to transition into a trading range over the next few months or even years. However this does not mean the bulls will not get another...
TLRY has formed a second entry for a parabolic wedge bull flag and larger high 2, although a doji bar. If the bulls are unable to regain control soon - something is wrong with the bull trend premise. If the bulls do not return within the next few weeks, prices are more likely to be in a trading range and will likely test the tight trading range of the open...
Normally, this is a bullish pattern. The bottom support line is key, so long as we do not break below it, the bias remains long. However, do note that if the support breaks decisively, I expect a waterfall of selling to take place as longs who are betting on the same thing as aforementioned will be rushing for the exits,