Happy New Year! 2016, a year that predominately traded in in the same range that 2015 traded in, proved polls are useless, and did the opposite of what everyone anticipated for each major event. In the end though, SPX was finally able to move outside of its two year long range, which at the very least...
I had expected a slow week as I wrote about last weekend, but my expectations were exceeded. Completely dead all week. I don’t anticipate next week will be the same (at least not the first couple of days) but it doesn’t mean we will get tons of movement either so we need to also be...
Last week was fairly slow especially after considering all the catalysts from FOMC to the tech meeting with Trump. In the end SPX closed 4 points lower than last Friday’s close. The weekly candle itself isn’t very pretty, but the fact that SPX held at the very top of last weeks candle is a positive. At this...
It’s been a while since I’ve done a post. Most of you know I was traveling through SouthEast Asia (an amazing trip) and then right when I got back had to head to Los Angeles because of my grandfather’s passing (sad yes, but at least he lived to 90). Thanks for all the comments via […]
As some of you know I have begun tracking when SPY pins on Wednesday and Friday. I began tracking Wednesdays since its inception and Fridays a bit after that. This next part is important – I am not defining pinning as the perfect pin. I am defining it in my own way that gives a range […]
There has been a relentless bid under the market and as much as everything seems extended and it’s tempting to short, the evidence doesn’t suggest we are currently at a top. That doesn’t mean there won’t be down days or pullbacks, but it means any shorts taken are going to be more difficult without great...
I am back and it’s kind of funny to see that SPX pretty much is in the same spot as when I left. Of course I know lots happened in between and not everything is in the same spot. Most markedly, the financials, which had a huge move higher and many tech names that have underperformed....
A Farewell to 2016
Last week here I summarized my post with: “the most likely outcome is another few days to weak of tight rangebound consolidation that may (but doesn’t have to) include further minor (but buyable) weakness followed by strength.” The rangebound part happened and I will lay out where my thinking was regarding “the followed by strength,” and why […]
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