I am entertaining the idea that the markets may be range-bound through the summer with lower volume & volatility than historically happens during the summer. Even if that is the case, the dark pool will give us some setups to watch. Right now there is some interesting dark pool activity in UPS, ETSY & XOM. Let’s take a look at them.
There are several sell signals in XOM & here is a breakdown on why I am targeting $90.
These three symbols can tell traders a lot about where markets are likely to head next and what levels we need to respect. May is over, and the end-of-month rally seems to have stalled.
In the corners of the market that matter—the high concentration weighted sectors in the indices—not enough despite the rally that attempted to predict that the Federal Reserve would change its policy tone and action. Breaking down the indices into the sectors and stocks that move them is the best path to clarity in this retracement, and in some cases, chop.
Wednesday night the NQ futures established support above the Voodoo Fireline. Pushing away from this level gave a short-term all clear for bulls to step in. But it’s still too early to declare a long-term bottom in place.
Let’s do what we do every Friday, and review the core markets and the periphery to see how things are aligned into next week.
The trap is sprung and it looks correct. What’s that mean? Let’s review.
In today’s video I extend my argument for the market continuing to trade higher next week. Yep, it’s that straightforward when you look at the Voodoo Lines.
