Wednesday, January 24th, 2018

MARKET UPDATE posted 06/20/13 Whew! What a drop today. Lately we were were so bullish that we forgot the nastiness and brutality of trading and today it showed up once again. If you held any long positions today , you would have taken losses or your gains evaporated in thin air in this sell off. […]

The market gapped opened double digits without a shred of news. Next thing it tried to break past the 21 day moving average and clearly broke the downward trendline. Than the Financial Times reported QE program being tapered off this Wednesday. The market started selling off and came down to hit the downward trendline as […]

The media becomes ripe with innuendo and speculation once the market starts tanking. They sell the news. There were many people mouthing off 5 % to 8% correction yesterday on major news channels. One thing you need to remember these are opinions- not facts- not anything close to being a market technician and they are […]

This the second time since Thursday the SPX has visited the 50 day moving average. After bouncing off nicely and enjoying the ride based on Fridays unemployment report, basically the market went nowhere and slammed again almost touching the 50 day line. Many other stocks have also touched the 50 day or broke through it. […]

As the summer comes the stock market slows down.  Today was a resting day. The market digested gains from Friday and  what seemed like a volatile week. The stocks sold off and finally reversed on Thurday but didnot go much higher waiting for the unemployment report which came in at 175,000 jobs added, that was […]

This is the other side of the coin. There was a time when the uptrend seemed almost unbeatable. For three weeks day after day making news highs the market climbed a steep slope, throwing everyone in amazement and wonder. How can this market keep on doing that? And finally on May 22nd, SPX made a […]

The market is appears to be moving downward in an orderly fashion and in a defined channel. After todays trading the pattern is becoming more tha obvious. SPX is flagging after a major bull run to the upside. This flag is again a bullish pattern which resolves to the upside. After todays trading the pattern […]

What a  wild ride this was last 2 trading sessions. Friday the market sold off harshly towards the end in the last 15 minutes of the day. Some folks came up armed with the idea that late Friday we can put an imprint on the chart there are no buyers in the last 15 minute […]