From the Desk of Kimmy Sokoloff
This is a big day, with the FOMC set to announce an interest rate decision at 2:00 p.m. ET.
We had a late-day bounce yesterday — typical, as this market loves to levitate.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
This is a big day, with the FOMC set to announce an interest rate decision at 2:00 p.m. ET.
We had a late-day bounce yesterday — typical, as this market loves to levitate.
I imagine it’s not uncommon for people to realize sooner or later that the person they thought they were is not at all who they really are. Perhaps not even close.
Are you being yourself?
Think hard about this. And be careful. Because your conclusion might have important ramifications beyond your day-to-day daydreaming through life. It will also likely have significant impacts on who you are as a trader and how you approach your relationship with risk – even your courtship of success (or lack thereof).
Everyone’s path to personal discovery will have its own speed limit, hills and valleys, and complements of sharp turns and extreme weather conditions.
The visibility isn’t always clear. For me, the wiper-fluid that cleaned my windows and sharpened my vision was my elimination of alcohol from my routine. [Read more…]
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!