And with the VIX at historic lows and the market just grinding higher, I typically do not like to trade action like this. It's a position traders market!
Wheat, corn and rice continue lower. No signs of trend change. Coffee a minor low reversal.
Monday, July 25, 2016
Update
Fell out of the blogging routine, as I've been really busy with a lot of stuff!
And with the VIX at historic lows and the market just grinding higher, I typically do not like to trade action like this. It's a position traders market!
I want to highlight CMG, as it is a big name stock with a big pullback, and it has put in a double bottom and with a massive spike higher. This pattern indicates that big money is entering and this could be the start of a massive move higher and change of trend.
Wheat, corn and rice continue lower. No signs of trend change. Coffee a minor low reversal.
And with the VIX at historic lows and the market just grinding higher, I typically do not like to trade action like this. It's a position traders market!
Wheat, corn and rice continue lower. No signs of trend change. Coffee a minor low reversal.
Wednesday, July 6, 2016
Up Down, Up Down
We all know that the market is by polar but geez...
I wrote that I expected a breakout to new highs on Wednesday but never published it due to being so busy with other stuff.
But, clearly I didn't expect such volatility and up down action!
Wednesday: Check mark extreme higher
Thurs: Check mark extreme lower
Today: Gap up and blast off to new highs with a solid trend day session.
I wrote that I expected a breakout to new highs on Wednesday but never published it due to being so busy with other stuff.
But, clearly I didn't expect such volatility and up down action!
Wednesday: Check mark extreme higher
Thurs: Check mark extreme lower
Today: Gap up and blast off to new highs with a solid trend day session.
Tuesday, July 5, 2016
5th of July Minor Swoon
As we expected the pre-holiday session on Friday was a snoozer.
Post holiday the market gapped down and ground lower that gave way to a 11:00 bottom transitional structure good for a valid daytrade into the close.
VWAP well respected today for the most part.
Oil tanked.
GLD still going higher from the magical 100 mark.
Interesting stocks to ponder. Just how long is a premier brand like CMG going to tank? There is just NO WAY that this stock does not come back. To big of a brand and the money is there to figure it all out. Technically, the thing is still in an uptrend on the monthly. Watching.
MMM new highs and a great example how go-no-go-zones are something to really respect -- and make money on!
On to today's index action:
Post holiday the market gapped down and ground lower that gave way to a 11:00 bottom transitional structure good for a valid daytrade into the close.
VWAP well respected today for the most part.
Oil tanked.
GLD still going higher from the magical 100 mark.
Interesting stocks to ponder. Just how long is a premier brand like CMG going to tank? There is just NO WAY that this stock does not come back. To big of a brand and the money is there to figure it all out. Technically, the thing is still in an uptrend on the monthly. Watching.
On to today's index action:
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