Markets traded a considerable range this week, but with the Nasdaq closing on the lows and several stocks breaking key levels, I’m looking for another leg lower. Don’t rush it, but consider these levels and timing as you get into the end of August.
With the weakness in the US dollar, the plan is simple and the same one I have had all year: Buy dollars on pullbacks. In this video I explain the three currencies I am selling against the dollar and the symbols to watch.
We’re looking at a number of markets driven by the crude oil, bond, gold, and financials. Here’s what we have in the books as we wrap up the week.
This is one of those things that if you aren’t aware of, it will make trading very frustrating.
This is the kind of market where you want to buy the strong ones and short the weak ones.
We’re focusing on relative out-performance leaders to the downside and the XLF (a heavy weighted sector in the S&P futures) is a great place to start.
There are setups in energies, stocks, and more that are favoring relative out-performance. Here are the setups on my Radar.
