Monday Morning Market Thoughts

Monday Morning Market Thoughts

Last week's market action was weak, as displayed by bearish engulfing candlesticks on the weekly charts of major U.S. indices.    The Russell 2000 is despite choppy action very close to again making lower lows since the beginning of May and the SPX and...
Friday Morning Market Thoughts

Friday Morning Market Thoughts

Boom!  Nonfarm payrolls 54k vs 169k concensus expectations.  The futures shaved off a quick 15 points on the back of this and are hovering around the $1295 mark. Yesterday's trade was marked by consolidation, which was to be expected after...
Good Reward/Risk for Longs

Good Reward/Risk for Longs

The S&P 500 chart gives us good reward/risk trades here.  On the SPX itself stops can be placed near $1318 (Tuesday's low…which was also the 50 dma and 61.8% Fibonacci retracement),  Upside targets as we see them are between $1380 and $1400,...
Thursday Morning Market Thoughts

Thursday Morning Market Thoughts

Yesterday's trading action was bullish, period.  Coming into yesterday morning, the market still felt heavy despite the intraday reversal on Tuesday.  As the morning unfolded however something took the fear level out and markets pushed higher....