The market took a decent dive early today, but after lunch time we saw a decent bounce. Perhaps it was short covering.
We don’t know which way the market will go tomorrow after the Fed’s interest rate announcement.
Time will tell.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
The market took a decent dive early today, but after lunch time we saw a decent bounce. Perhaps it was short covering.
We don’t know which way the market will go tomorrow after the Fed’s interest rate announcement.
Time will tell.
by Ian Culley
From the Desk of Ian Culley @IanCulley
“The bigger the base, the higher in space.”
That’s how I learned it from JC.
But he wasn’t the technician who coined the adage. It was actually handed down from Lousie Yamada, who studied under the legendary Alan Shaw.
It was amazing to connect with technicians from around the world last week at the 50th Annual CMTA Symposium.
I have a great deal of gratitude for all those who made last week possible and to the founding members who paved the way for technical analysis.
The experience was humbling, as it exposed my roots and reminded me where I come from.
It’s just like the Swiss franc reminds us that observations from more than a hundred years ago continue to play out across today’s markets…
by David
From the Desk of Kimmy Sokoloff
$SPY bumped right against its Bollinger band yesterday and dropped.
We had a pretty decent-sized move last week, and I think the indices will wait till tomorrow to get going again.
by JC
It’s that time of the year again.
I keep being told to ‘Sell in May and Go Away’.
But where is it exactly that I’m supposed to go?
Investors continue to be rewarded for owning stocks as both the S&P500 and Nasdaq100 closed out April with their highest Monthly close in a year. [Read more…]
by JC
This is the video recording of our May 1st Monthly Charts Live Strategy Session
by Ian Culley
From the Desk of Ian Culley @IanCulley
It’s still messy out there, no matter where you look.
Signs of strength are fleeting, whether we’re discussing gold, the S&P 500, or US Treasuries. It’s one of the few observations everyone agreed upon last week at the 50th annual CMTA Symposium. (I’ll have more on that later this week.)
Despite failed breakouts and trading ranges ruling the market environment, one bullish data point stand out regarding precious metals…
Silver!
by David
From the Desk of Kimmy Sokoloff
The market is still trucking along and going higher.
$SPY does have potential to the February high at 418.31.
From the Desk of Steve Strazza @sstrazza and Alfonso Depablos @Alfcharts
This is one of our favorite bottom-up scans: Follow the Flow.
In this note, we simply create a universe of stocks that experienced the most unusual options activity — either bullish or bearish, but not both.
We utilize options experts, both internally and through our partnership with The TradeXchange. Then, we dig through the level 2 details and do all the work upfront for our clients.
Our goal is to isolate only those options market splashes that represent levered and high-conviction, directional bets.
We also weed out hedging activity and ensure there are no offsetting trades that either neutralize or cap the risk on these unusual options trades.
What remains is a list of stocks that large financial institutions are putting big money behind.
And they’re doing so for one reason only: because they think the stock is about to move in their direction and make them a pretty penny.
Then we flip through our list of stocks flashing unusual activity and pick the best setups using many of the same technical filters we do for our other scans.
And, just like that, we’ll follow the money flow and fatten our own pockets along with some of the world’s most powerful financial institutions.