Good morning, Friends. It's certainly looking half-empty, perhaps a bit more, in the early going. I'm normally looking to buy dips within uptrends, but this uptrend is now looking like a lower high that's already past its "sell by" date. It doesn't take much imagination to envision a move to the 61.8% retracement around 1160. This is, of course , a daily chart; the hourly looks even more...
Continue reading >>Does a triangle/pennant pattern always indicate a continuation of the previous trend? Maybe not. ...
Continue reading >>Good morning, Friends. Our trading here is driven by the methods taught by Todd Mitchell, which are based on his solid understanding of technical analysis, and of the behavior of traders. I keep an eye on the news, because that's part of my job, and on flows, because I can, but I keep coming back to the chart set-ups that I learned here at TradingConcepts, particularly when the going gets...
Continue reading >>Things are looking a lot less bullish today than they were yesterday. It's hard not to feel battered after an (almost) 47 S&P point onslaught to the downside, but the uptrend remains intact, and the good news is that support is much closer at hand around 1210, where moving averages meet the 38.2% Fibo retracement from the recent high at 1292.66. I couldn't resist doing some nibbling today,...
Continue reading >>There are those who say that the beating wings of a butterfly in China will ultimately manifest themselves as a hurricane on this side of the globe. I have to admit ignorance, something which I've become accustomed to over the years. Still, on occasion, the promised departure of an Italian politician, by pushing the Euro up, the Dollar down, and getting traders excited about taking risk, can have...
Continue reading >>Are we back in a primary Bull Market? Or has the October rally just been a fake-out, sharp Bear Market rally? Watch this video to see how we bracket the price and avoid being lied to by indicators.... ...
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