After Labor Day?
Each evening we focus
on the most interesting aspects for the upcoming trading
day. The comments are based on observations of the nightly
updates of the Stocks/Sectors and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
markets opening. Therefore, overnight events may alter the
outcome of these observations.
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“Bow Ties,” my latest trading lesson.
At the time
this is being published, the S&P Globex futures are
trading up 0.25 points and the bond market is unchanged.
a marginal day higher but failed to take out Monday’s high.
This leaves minor resistance around the 4,100 level (a).
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sell-off on Tuesday, making Monday a pivot high (a high
surrounded by two lower highs).
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might be under way, based on the above price action and the
fact that the VIX began to bounce off of its lows.
things are shaping up and that we could get a decent rally after
the market corrects. We’ll have to wait and see —