From the Desk of Kimmy Sokoloff
We have big data out at 8:30 a.m. ET this morning.
As I write, the futures are up. Let’s hope they stay that way.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
We have big data out at 8:30 a.m. ET this morning.
As I write, the futures are up. Let’s hope they stay that way.
The concept of “Tilt” is often discussed when things have gone awry. It’s usually associated with poor risk management and sloppy trading that has led to larger-than-expected losses.
You can no doubt find endless stories of traders in every timeframe who have gone on tilt and proceeded to wreck their month, their capital, and sometimes even their careers.
We’ve all experienced some degree of this in our own trading. It comes with the territory. It takes a rare human who possesses the mental fortitude to stay completely focused no matter what’s happening to their portfolio. Those people are out there – but they’re hard to find.
The downsides of going on tilt when our trades or strategies aren’t working out are fairly obvious.
But we rarely talk about when we go on tilt with a winning position! [Read more…]
by David
From the Desk of Kimmy Sokoloff
The market did bounce from the lows at $SPX 3,700, but it was lackluster.
In order for this market to head back up hill, the SPX would have to get above 3,750 and hold it for a move to 3,775.
Well, that was fun!
Yesterday we were treated to the latest interest rate hike from the Federal Reserve and a speech and Q&A with Fed Chairman Powell that apparently wasn’t well received by the market as stocks slid furiously into the closing bell and continued the selloff into this morning.
Where we go from here is anyone’s guess. Still, I’d like to take the opportunity to continue taking advantage of consistently elevated options premiums and put on a delta-neutral credit spread in an area of the market where I think some sideways rangebound action may be setting up into the end of the year.
by JC
Someone years back decided to convince people who are bad at math that the Nasdaq is a good representation of the stock market.
With every day passes, particularly in 2022, the market continues to prove how silly that whole thing is.
Whatever you need to do to remember it, do not EVER forget:
The NASDAQ is NOT the stock market. [Read more…]
by David
From the Desk of Kimmy Sokoloff
It’s anybody’s guess where we go from here.
I think Mr. Market was looking for a glimmer of light from our Fed Chair, and that did not happen.
by Ian Culley
From the Desk of Steve Strazza @Sstrazza
When investing in the stock market, we always want to approach it as “a market of stocks.”
Regardless of the environment, there are always stocks showing leadership and trending higher.
We may have to look harder to identify them depending on current market conditions. But there are always stocks that are going up.
The same can be said for weak stocks. Regardless of the environment, there are always stocks that are going down, too.
We already have multiple scans focusing on stocks making all-time highs, such as Hall of Famers, Minor Leaguers, and the 2 to 100 Club.
We filter these universes for stocks that are exhibiting the best momentum and relative strength characteristics.
Clearly, we spend a lot of time identifying and writing about leading stocks every week, via multiple reports.
Now, we’re also highlighting lagging stocks on a recurring basis.
by Ian Culley
From the Desk of Ian Culley @IanCulley
The US dollar has stopped going up!
In fact, it’s already registered a slightly lower high and lower low this past month.
But we can’t call a top in the US dollar yet. While it came close to officially triggering a top last week, the lack of follow-through kept us in our seats.
With fresh monthly candles in the books, let’s review longer-term charts and reiterate key levels for ol’ King Dollar.