Today's catalyst is higher oil prices. Given that energy is the largest component of the SPX, when oil rises, the XLE and OIH rise and that buoys the market. There are time when higher oil prices would be a detriment but in this upside down world, hi...
Read more...It is so easy to get complacent. When the market climbs higher slowly day after day it allows you to feel as if it will just continue that way. It's as if all the worries maybe really are just overblown and life can somehow return to something more o...
Read more...There hasn't been much of a let up in the financials but a close below $14.52 on XLF is a failure on the day. XLE is failing and all the majors have the opportunity to do so although the NASDAQ doesn't look to do so. It's a mixed bag but we are neare...
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$Gold may have put in a wave 4 low this morning- see the following 2 month daily chart.
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We've hit the 1893 target with overshoot to 1897 and a fall back to 1883 thus completing a 5 wave move up- see the following 15day 30min chart.
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Sept NQ's are trying to break out of a channel topside- see the following 10day 30min chart.
Read more...Knowing the trend is important, but the use of anchor bars to better time entry and exit is critical. L.A. shows an example of the process and describes why OIH is a sell now, not a buy.
Read more...Realmoney's L.A. Little takes a look at the Select Financial Sector SPDR ETF to see where it is going after yesterday's big push higher. L.A. says if you want to know where the S&P 500 is heading, just keep an eye this index.
Read more...L.A. looks at Intel Corporation from a long perspective. Yesterday showed a possible reversal for a trader higher. Is it worth it? You might find the conclusion interesting!
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