Tuesday, January 23rd, 2018

Market continues to grind higher in the above mentioned video. NDX made a new high on Friday and the cup shaped pattern is proving what it should be doing so far. This index can move much higher if we are correct about the chart patterns. Same for $COMP the bullish action is all there to […]

SPX , RUT and NDX all showing  bullish action this week. The FOMC meeting was well liked by traders last week and a promising start higher resulted in SPX and other indexes reaching new highs. However, we are nearing the upper limit of the channel here and overbought and may see a retreat at some […]

Some pullbacks in indexes and major names this week. We are still in the bullish mode but overbought and its where profit taking takes place. With one exception of CMG that has run up 100 points in last few weeks and AAPL also ran up now pulling back. Take a look at this video. We […]

Major indexes all in rup mode for now and getting overbought. SPX almost hitting the upper channel that could bear signs of reversal. Caution with longs because profit taking may ensue. RUT was the laggard and has shown great break out type performance lately. This was a bullish channel and its break out from here […]

The indexes are now making new highs except RUT which is breaking out from a downward bullish channel. The market direction is still up and getting slightly overbought. The Bonds are also rallying as seen with TLT chart which intrigues most traders. Not seen this in long time. This week is interesting as the unemployment […]