Good morning traders, welcome to a new week. The market was down everyday last week, but it doesn't feel like much danger to me. The liquidity is still there, but the question is for how much longer. Personally, I am going to make the shorts take my money because I have lost countless times when I try to pick the tops of this market. So, I'm staying long here.
Interesting that we dipped down first toward 4490. I still think that we stay in the big red box (see video) as we try to push back into value. I would imagine the next step is 4540.
We are close to the open so I will get you these right away. I don't think there is a big chance for a pullback here, but we are slipping below value low of this week-long area. I would expect to see the buyers come back in here.
Good morning Traders. I hope those of you in the U.S. had a great Labor day weekend. We are back at the screens now with summer and holidays in the rear view mirror. This is the time of year we usually see good movement. I would expect the market to move a lot between now and Thanksgiving, so lets take advantage of that. I would expect the market to continue...
Good morning traders... Big miss on the jobs report this morning. However, I don't think the market will view it as a huge negative. The reason is that it will likely cause the FED to hold off on the tapering. This alone will keep the liquidity flooding the market, making it difficult to go lower. Let's wait and see, but the open will likely be volatile.
Here you go guys, same ol' stuff. Market is moving slowly, but still grinding in this range and more likely to break higher. Do not overstay your shorts.
Morning Traders! Market drifted higher yesterday at the close to give us that end of the month window dressing that we've become used to seeing. Volume is average today, so I'm expecting the market to trade in this range with an upward skew. For me, it's definitely favorable to play the long side. Make your own plan, own it, execute it. Let the chips fall...
Last trading day of the month, likely to see those end of the month flows (window dressing). The volume is up quite a bit overnight, so let's see if that continues into the session. Definitely something to keep an eye on today as it takes participation for the market to move. I would still expect the buyers to win out here, so I'm going to stay long.
Morning traders! News out of Jackson Hole pushed the market down briefly yesterday, on more tapering talks. However, market has rebounded. From here i'ts 50/50 up or down but only because there is still the symposium today. Normally, I'd say just get back long and hold onto it. However, more news could be coming out today on tapering.
Market in almost the exact same place it was yesterday at this time. Jackson Hole Symposium starts today and will go through this weekend. I honestly don't know what to take from that, but the market will show it's hand soon enough. It's not an event to stop trading for, but an event to be aware of in case the market goes haywire. If it starts moving like...
Good morning traders! Very slow and methodical trading up here near 4500. I believe that we will be pinned to these levels until there is more clarity regarding the Jackson Hole event. The FED event starts tomorrow, but the problem is that it's not defined by a certain time. It will last into the weekend, so the markets can be jolted at any time based on the...
THe market got to 4492 quicker than I had expected, but we are here nonetheless. From here I expect the market to slowdown going into the Jackson Hole Symposium that starts on Thursday this week. I would expect a sideways trade here and the market to range back and forth. You still have to give the advantage to the buyers, but I am going to take a more neutral...
Good Morning Traders! Jackson Hole Symposium is front and center in the market news now, as the fed will get together to discuss policy at the end of the week, and into the weekend. The bulls awoke on Friday and squeezed out the weak shorts, leaving us close to all time highs again. I would expect as long as the FED continues to provide the liquidity, nothing...
Have to run out to school today with the kids. Lots of options in SPX burning off on the open, so expect a volatile open. I am still going with the long hunch from here.
FOMC minutes yesterday rocked the market. They said the economy was doing well enough that they could start to taper the asset purchases. From what we've been talking about on a daily basis in class, we knew how the market would react to that. However, I do not think the market will just sink from here. I believe we will bounce today, but it will be a wildly...
Quite a volatile day yesterday, but the quick down move was bought by the always present buyers. FOMC meeting minutes today at 2 pm eastern, so watch for that. I would expect an upward drift today until and after the meeting. On a note unrelated to trading: I have to take my 8 year old for a second covid test this morning, as he requires 2 to return to...
Market is off about 20 points from Fridays highs due to (I believe) the situation in Afghanistan. I do not believe that it will bring the market down for long, as this market loves to climb the 'wall of worry.' I'm staying long here.
Hello Traders, I'mg getting sick of saying 'nothing new to report', but it's the market environment these days. As I said in class the other day, this is a slow, predictable market that has unlimited liquidity from the FED. It is one of the easiest markets I have seen in 10 years. It will bite one day and you will take a loss if you continue to be long, but...