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July 5, 2016

Market Update For Purists

It’s that dreaded day after Independence Day. The weather is gorgeous and I don’t really feel like trading either. The thought of just phoning it in had occurred to me, but as the new month just rolled over I thought I may as well take another peek at our monthly charts. Which uncovered quite some interesting perspectives that I’m eager to share. But no worries – we’re keeping it light and easy today. Consider this a purist’s approach to market analysis as we’re going to ignore everything but Net-Lines.

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August 21, 2015

Long Term Support

Something rather interesting happened yesterday during the E-Mini session. Granted it was a bit subtle but perhaps some of you veteran subs picked it up as well:

More specifically it’s something I saw on the Zero Lite after I marked a pretty significant bullish signal divergence, meaning price was meandering down while selling pressure was abating. Our modus operandi when confronted with such a divergence is to start looking for price confirmation in order to take out a contrarian entry – in this case a long position. Only problem was – price never budget. Participation continued to contract and then completely flatlined with the tape dropping lower [...]

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July 15, 2013

Uncharted Territory

The price action in equities today reveals renewed imperviousness to gravity which is a bit surprising given the chasm we are facing on the volume profile panel. I am a bit conflicted up here – there are reasons to be bullish and reasons to be bearish.

As a trend trader there still are no reasons to pull positions. But as a discretionary daily trader I am a bit uncomfortable following the bulls higher as we are heading in uncharted territory – and that at the onset of the vacation season when participation is expected to fall.

Let’s take things from the top. The more medium term SPX P&F panel (by P&F standards) shows us a [...]

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June 24, 2013

Monday Morning Briefing

Welcome to our morning briefing. Here we are reviewing short term setups ahead of the NYSE opening bell. If you are a scalper or swing trader then these setups may be of interest to you. As usual keep in mind that these are short term setups although they could be used as early entries for more longer term positions.

I actually meant to post a weekend update but somehow wound up wiping out my Windows installation, thus condemning me to a weekend of recreating my workstation from scratch. Yes, I do backup religiously but my bootcamp partition wasn’t covered by time machine – fortunately I back up my Windows data separately twice a day. As the old saying goes [...]

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Cognitive Bias Carousel
  • Cognitive DissonanceCognitive Dissonance
    I had to think long and hard about what exactly to post today without insulting at least half of my readership. As you know I have … more
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