Meat On Bone
Some bullish signs appearing in key areas of the market, but approaching major resistance zones. Let’s review the risk to reward profile for next week.
Some bullish signs appearing in key areas of the market, but approaching major resistance zones. Let’s review the risk to reward profile for next week.
Let’s do what we do every Friday, and review the core markets and the periphery to see how things are aligned into next week.
In this chop the simple and time-tested fade has worked effectively against both support and resistance levels intraday, here’s how it worked during the FOMC Minutes release today.
In this update I walk you through how I have been daytrading and the best times, which trends on the daily chart are on my radar, as well as the most straightforward approach to decoding inflation and jobs data.
It’s a short week this week but certainly has been a good one. Tonight I’ll review a little but also make plans for the next session or two.
I think of tonight’s update as really just that, an update. The reason is that most of what we have working from recent trade ideas is working well and thus needs little attention. I do want to point out a couple of very interesting new observations in Crude and Corn that are worth paying attention to.
Software stocks have really been nailed on the spike in interest rates, as their high price/sales valuations fall. If bonds stay up, I think the unloved software stocks are buys on dips.
It’s a short week for the market, but the structure of key charts continues to lean in the favor of the bulls. Here’s a few of my favorite setups that looked poised for more upside, market-willing.
The bulls have done a good job keeping much of the progress they made over the last few weeks. From here, a path into the daily 200SMA seems likely, and here’s a few of my favorite setups that should benefit from more strength in the market.