There is no excerpt because this is a protected post.
Friday ripped higher, but the move was really not a surprise as I had outlined a target of the $ES 1802-1803 zone with a risk upside of 1806-08 in the published daily trade plans. Where we are now: The trend is your friend they say and remains so. On the surface nothing has really changed. Markets pull back slightly for a few days at the most and rally right back […]
Friday was a ripper, but the move was really not a surprise here. In my trade plans I had outlined a target of the $ES 1802-1803 zone with a risk upside of 1806-08. In good old bull fashion we got to 1805.67 and we profited nicely with long positions. So now what? First a look at what the market has done in the short term. As you can see from […]
As the $IWM disconnected from the $SPY today I posted a tweet with the following daily $ES chart with $ES at 1808.15 suggesting a short trade with a stop above. Why? Simply the $ES had moved under the daily trend line and was in the process of retesting it with $IWM off over 0.5% indicating a large divergence. Interestingly enough many seemed little bothered and kept on buying $SPY for […]
Market update: After 8 weeks straight up markets are overbought and very stretched. Excessive liquidity continues to be the primary factor in lifting asset prices. Fair enough, that’s the market reality we are in. December seasonality tends to be strong, yet I haven’t found any precedent where markets came into December that red hot. Bulls are giddy and who can blame them. Bears are virtually non-existent and either ignored or […]