Kunal Desai Market closed up about 1% for the week. After some real weakness and a strong breakdown from the 50dma we have had a bounce right back into resistance. That is our line in the sand the market will be in a bit of a standstill till we get over that level. [screencast url=”http://screencast.com/t/uw9cFaCowLdp” …
Slight pullback in the Market as 20 and 50 MA on S&P-500 still acting as resistance. Bull case, we consolidate under those moving averages and eventually break out. Bear case ,S&P-500 building a Bear flag under both moving averages and getting ready to break down. So we are still in no mans land until a …
Another melt-up day in the markets today. Volume on the buy side is still lacking. I would be cautious holding longs overnight for now. We had an awesome day in the bulls room, with the alerts totaling $1410 in gains. If you aren’t a member yet, you can join us in the Bulls chatroom, which …
Volatility still proving to be the only for sure in the market this week. We rebounded nicely the past 2 days in the markets which made for some great trading. If you take a look at the $spy chart, note the volume on the rebound. It is much less than the sell off volume. Possible …
Weak bounce attempt in the Market today as S&p-500 relieved some short term oversold condition. It is now stuck between 100 MA with 50 MA strong resistance. As long it stays below 50MA, weak bounce will only create a Bear flag for next leg lower. Bears are still in control. As far as trading this …
Another bloody day in the markets. Bears are still in control for now. Thanks to the mid day rebound, we made some nice profits on the long side today with $1076 in gains! With the volatility in the markets right now, you have to be alot quicker with your trading! Take profits when you get …