Interesting Stocks Stronger Than The Market & Trading on Volume
Today the markets gapped lower then struggled to get back above the prior day’s floor trader pivot level. The markets closed on a strong note near their high of the day, but just a fraction above their one day pivots. You should be able to see commentary and charts covering today's market action in another ... Read more
Island Tops in TLT and GLD
The TLT's and GLD have interesting island tops in place. It they continue lower tomorrow it could indicate a top in so much as the risk on trade is back on pushing stocks higher. The market watch is getting back up to the resistance of the swing highs of last week and the August 17th ... Read more
Is The SPY Flagging or Basing?
Is the SPY flagging or basing? If it is flagging the implication is the next big move is lower. If it is basing the implication is the next big move us higher. I see a very well defined flag pattern in the context of a bearish phase, the 50-day moving average is below the 200-day ... Read more
Tuesday Will Make Up For Friday
I hope Tuesday will be more helpful in revealing the market's short term direction than Friday. While the main trend is down, the last few weeks have created a wide range consolidation pattern which will likely result in a large move in either direction. Friday wasn't all that helpful because with a report of the ... Read more
Pop Quiz
The last day of summer trading, a three day weekend and a big jobs report all on the same day. Tomorrow. I'm not going to try to call this one. Purely by the numbers, all 4 market watch... 1. The Fibs: Have stalled at the 50% retracement from their July highs and the Q's have ... Read more
Markets Move Up And Consolidate
Today was a tough day for day traders because the market traded above its OR and then back below the OR low. This is price action that is typical of a market that needs a rest, and as I highlighted yesterday, the SPY is sitting at the 50% correction level from the recent lows which ... Read more
SPY at 50% Mark
What will you do if the market gaps below today’s low? I don’t have any reason to believe it will happen, but it could. And if it did, would you know what to do? You should. The markets have moved up nicely in the last 5 of 6 trading days, and the 1-day pivots are ... Read more
Through The Roof (The Top of The Range)
Ok, so when I said the markets would have to get above R1 to be bullish, I was not anticipating they would all gap open above R1! Despite all the excitement in price action the volume was incredibly light. This should not be a surprise given that the East coast of the U.S. is still ... Read more
Market Consolidation
By Geoff Bysshe on September 9, 2011
Market Consolidation Here's the plan... Consider the weekly trend and or market phase via the 50 and 200-day MA's. Consider the daily trend with 10, 20 and 50-day MA's. Consider the 3-day condition relative to the 3-day range by using the 3-day pivot range. Consider the 2-day condition with the floor trader pivot rules (i.e. ... Read more
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