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Logarithmic Fibonacci levels show decision near 3900
For possible large moves it can be useful to do Fibonacci work in log space. Let’s explore what that means.
Shipping Out
Bears are starting to reaffirm their grip on this market, and unless some magical low is made in the next few days, FedEx seems destined for lower prices.
3700… and Beyond!!!
This video is more of a diagnosis of what it means to close back down below 3700 for today with one last day left in the week of trading. Yesterday’s low was 3677 so I actually love the argument of stepping into buy this with a bullish target of +3700 for tomorrow.
Making of a bear flag
It seems to me the market is going to drift upward, but the path is unclear. And while we could look to play the bullish side, I think the bigger move will be down once the SPY and its Daily 50 SMA meet.
Calm Before the Storm
While the market churns in this wide ranging chop to no avail, I think I see what is going on and when it may end. I’ll do my best to explain what I am looking at in tonight’s mid week market update.
The Next Major Squeeze
With every chart I review, the first thing I’m looking for is the status of the Squeeze. This signal is helpful with directional moves, and is starting to show up in some of the most important currencies and stock indexes.
Looking for December Shorts
Though the bulls have had a good showing over the last few days, I continue to think the path of least resistance is to the downside. Let’s take a look at the SPX short we’re pursuing in the Options room that provides plenty of time and cushion.
Short the Rip or Buy the Rally?
I explain what I am focused on and why, using volume in a way that has been very accurate in this choppy market.
Play the Chop in DKS
In this video I walk through DKS consolidating chart pattern and discuss one way you may trade the chop to your advantage.
Up It Is
Last week we discussed and made a case for support against Friday’s lows. Today the market spoke to the support and bids for higher. The natural question now is could there be more to this leg of the move? Honestly, it looks like there could indeed, so let’s look into it in tonight’s market update.
