$QQQ is currently in an ascending triangle chart pattern. Regardless of where they form, ascending triangles are usually bullish patterns that indicate accumulation. Even though the price can’t rise past the 200 day resistance level, the reaction lows continue to rise. It is these higher lows that indicate increased buying pressure and give the ascending […]
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The $SPY downtrend stopped after the bottom 3 weeks ago, and $SPY has gone back to a range bound market. The $SPY chart is currently forming a symmetrical triangle chart pattern. There have been 15 days of lower highs and lower lows showing a range compression of prices. Which trend line we break first will
$SPY Chart Triangle Signals: 9/13/15 Read More »
S&P 500 Fails Again At Key Stock Market Resistance Level S&P 500 200-Day Moving Average Is Pointing Lower, What’s Next? Every trade has a lesson but we often learn the wrong things – The 6 cardinal sins of trading The difference between working knowledge and “chauffeur
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Why I dont buy support or sell resistance but rather sell prior suppport and buy prior resistance pic.twitter.com/LxnQntBzct – @Trader_Dante — Steve Burns (@SJosephBurns) September 11, 2015 number of times the $SPX has been up 7 years in a row? 0 pic.twitter.com/5hMc6Q4Esj — StockCats (@StockCats) September 9, 2015 7 years after calling for $200 oil
Top Trading Tweets of the Week 9/11/15 Read More »
“The key to long-term survival and prosperity has a lot to do with the money management techniques incorporated into the technical system.” -Ed Seykota The above image shows the destruction of capital, not only for a losing streak, but also for a string of 10 trades with a 50% win rate; alternating between wins and
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There are so many traders and investors that remain bullish even when the stock market is under distribution. Here are 5 things I need to see to become bullish again and stop shorting strength and start trading on the long side. $QQQ needs to close over the 200 day as my first sign of
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I appreciate Mark Ritchie sending me a review copy of this book. I have the utmost respect Mr. Ritchie’s market successes, and I enjoyed his interview in Jack Schwager’s “Market Wizards” book. This book is much different than other trading books you will read. The author begins with a warning that trading is probably not
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Guest post by Christopher Ebert @OptionScientist With regards to #2, I must admit I too was once hampered, and to this day occasionally experience the hampering effect from time to time . What released me from that was a realization that there will always be some influential entities that can induce something to go up
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Did a Black Swan Fund really just “make a billion dollars”? Taking a Fresh Look at Your Trading Performance 25 Simple Things to Give Up If You Want to Succeed The Great Jim Simons Why everyone loves to call tops and bottoms…and gets slaughtered
5 Top Trading Articles: Week of 9/6/15 Read More »
The market is still in bear territory under the 200 day simple moving average. The MACD is extremely bearish, showing a lack of momentum. Up days continue to be on lower volume and down days on higher volume, which shows distribution. A 27.80 $VIX is not bullish, it demonstrates uncertainty. The RSI is weak at
10 Fast Facts About the $SPY Chart: 9/5/15 Read More »