Traders have an edge with a contrarian approach
The SPX has had a very selective rally on diminishing volume into Friday’s intraday high…
Daytraders benefit from short-term volatility
Let position traders beware or else learn how to use options.
The casino has big edge this week
The question now is how will the Fed act in front of the midterm elections, and my guess is…
Sell QQQQ resistance zone
…the QQQQ, which hit 39 yesterday, has significant resistance from $40 – $43.
Time zone this week
The SPX will, at a minimum, test the top of the two-month trading range this week
Las Vegas has better reward/risk
You need to free up some cash to take advantage of the next buy cycle in late 2006 or the first quarter of 2007.
Continue to sell rallies; major indices will make new lows
My view has not changed, and any rallies into the 3% resistance range from 1290 – 1330 should be sold…
Key price and time zones
Momentum traders are having trouble adjusting to a trading range action
Hard or soft landing
The short story is that the leading economic indicators have been declining for over 6 months and there is a current yield curve inversion.
SPX 5% range to end next week
The SPX two month 5% trading range between 1280.38-1219.29 will resolve itself after month end in the first few days of August.
Listen to what the market is telling you
If the energy stocks were to head South, you can kiss the SPX goodbye…
Bull to bear cycle trading adjustment
This week is month-end, so there might be an upside bounce on some short covering, but the path of least resistance is down