Insane strength in the market and new highs. Still there is some chop during the week so it’s not the case that everything is going straight up and entries and exists as we see still matter. We were able to take advantage last week though very short term trades. It seemed to work the best...
Despite the market being at highs, things have no doubt slowed down, which is why our trading has slowed down. Our activity needs to be in sync with the overall activity in the market environment and given how things have become overbought we may again see a slower market next week. However, because earnings are...
Another great week – 2018 starting off with a bang :-). Breadth: SPX stocks at 20-day highs: Finally I have to expand this chart out 2 years because we surpassed 2017 levels. Clearly we are overbought. That means that either a pause (a sideways consolidation to work off overbought conditions) or pullback is on the...
Awesome week! Moving on to next week. Breadth: SPX stocks at 20-day highs: Last week this measure was oversold. Currently, it’s as high as it has been since 2017. As you can see on this 2 year chart that it can go higher, but either way the market is at or very close to a...
New year! New beginnings! Let’s make 2018 the best yet! Breadth: SPX stocks at 20-day highs: On this short term measure the market is actually oversold. It can stay down at these levels for about a week if things are really weak, but we are likely to get a decent bounce at some point over...
Open Interest for the First Expiration of February
Last week here I discussed the high calls a 280 and mentioned that if price got and held above it it was not worth fighting. Indeed price flew above that level at the start of the week and never looked back. If you have not yet subscribed to my weekly freebie you can do so […]
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