Further Room For Upside But These Are Still Not Perfect Conditions
Another good week for the Nasdaq, this time dragging the other main indices along meaning a broader based rally. So, why the “but”? Because there’s also a lot of ragged behavior out there. Because the Nasdaq and leading stocks are over-extended. Because earnings was far from consistent. So, enjoy this run by all means, but do it by managing your trades conservatively. That means protect profits as soon as possible. Market Outlook: A broader rally than previous weeks. I mentioned last week that the higher quality setups were bullish. That has seen follow-through this past week. As I look today, the quality of setups isn’t quite as good. Watch the video for more detail. The Main Indices: The S&P did make its upside breakout as suggested last week. The QQQ is in overbought territory.
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S&P Poised For a Breakout, But Serious Obstacles Still Loom
The Nasdaq has lurched into even more overstretched territory, the S&P is poised for a breakout, the Dow is trying
Big Tech Leads The Way, But For How Long?
The Nasdaq had a storming week, leading the S&P somewhat, but barely having any impact on the Dow and the
Post Earnings Likely to Be Tepid
The major indices are all pretty much where they were 12-months ago, and with this earnings season limping into its
Earnings Season To Continue the Volatility
Our new automated stock selector has achieved a win rate of 69%, which is extraordinary when you consider it doesn’t actively manage the trades. You can further improve the stats by some simple trade management which is something I teach
New Lows Imminent for SPY … And More Automation Coming for VIP Members
Exciting developments this week as we finalized the latest research upgrade to our automated stock picker which will be included at the Summit event. Also we’ve made further design enhancements, which make the next platform upgrade spectacular. It all means
Next Pit Stop at 350 for SPY … And Big Upgrades Coming for VIP Members
VIP Summit members I’m adding four important new Fast Filters for you, which you’re going to need in the coming weeks and months. In just a click you’ll be able to see a selection of potential reversals, and you’ll have
Short-term oversold, then new lows will be likely
If you’ve been following my market commentaries you’ll have either gained rather well from being short, or at the very least you’ll have avoided the carnage. This was a momentous week for the markets, and yet you won’t find me
On Second Thoughts … Volatility Yes, Direction Yes!
So, I’ve been predicting volatility … and we’ve got volatility ! Last weekend it was something of a surprise that the volatility had sent the markets upwards the previous week, but I maintained volatility would continue. This past week we
Volatility Yes, Direction Not Quite!
Last weekend I predicted volatility … but I didn’t expect the direction to be quite what happened! No harm done … short weeks following a holiday Monday can be a little treacherous, which is something I did more than allude
Follow Through As We Anticipated
A grizzly Friday afternoon session provided another big red pie for “Downward Momentum” stocks, which is especially sensitive coming before the Labor Day holiday weekend. This means an extra day for news (good or bad) to seep into the market,
Markets Playing Out Uncannily As Suggested
The expected third leg down, which I’ve mentioned would happen many times over the past few weeks, is happening before our very eyes, and it’s not hanging about! Remember what I said just last week! In line with my reading
Short Term Choppiness Will Be Ideal
In line with my reading of the markets over the past few months, I’m hoping this current stalling action will be followed by short-term choppiness and then a decline that will complete a Shrinking Retracements third leg down in the
Market Still On Track With Last Week’s Analysis
Market Outlook: We did pretty well last week with some notable winners and no “stinkers”! From last week: This suggests to me that the rally will weaken. The question is … when?! My answer is within a matter of weeks. I’ll