There are so many ways to study the markets and even more ways to apply what you learn. Stocks were volatile this week, but we have several great examples of some of the most important concepts I’ve learned in my trading. How each trader applies them will be different, but they’re worth taking some time to review.
It’s tough when some trends make perfect sense and others are simply moving on fairy dust, but nonetheless, the combination of long bonds, long gold, and long equities is working and we have to trade what we see… even if we don’t believe it… that is, once the Federal Reserve starts throwing their weight around.
MSFT is a market leader, but ADBE is not far behind. Here is why I think ADBE will be the next of our cloud kings to break through overhead resistance, onto new highs.
It was fun watching the melt higher as the S&P breached 2850. We can thank the Fed, along with everyone who was short at this level. I continue to be very bullish this market, and with the strong close today, I am looking for higher prices tomorrow. Of course, it’ll run out of momentum — but that time hasn’t come yet. I’m trading ADBE, DIA, COUP, NFLX, GLOB, BA, and CGC.
Today’s bullish action in equities was in large part due to J. Powell staying on message. In the meanwhile, currencies are being upended and energies are behaving. See what’s on the radar for the remainder of the week.
