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From Trader Mike - view blog entries - visit this blogMay 7, 2020 at 7:48 pm ET
The sellers stepped their game up today and wiped out most of last Thursday’s gains. Yesterday I was surprised that stocks traded opposite the dollar. That dynamic continued today and oil traded ... ( more)
From Trader Mike - view blog entries - visit this blogMay 7, 2020 at 9:24 am ET
On Today’s Calendar:
10:00 — Pending Home Sales
10:30 — Crude Inventories
More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic
Potential swing trades:
See one of the recent ‘Chart Reading‘ posts for some potential swing ... ( more)
From Trader Mike - view blog entries - visit this blogMay 6, 2020 at 8:10 pm ET
The market had a change of character today. Lately the indices have been trading the same direction as the dollar but today they went in opposite directions. Logic might dictate that the broader ... ( more)
From Trader Mike - view blog entries - visit this blogMay 6, 2020 at 9:17 am ET
The futures are down this morning so it looks like we’re in for a retest of last week’s breakouts. I’ll be watching the support levels I drew on the charts last night.
On Today’s Calendar:
nothing
More ... ( more)
From Trader Mike - view blog entries - visit this blogMay 5, 2020 at 10:22 pm ET
A few people have asked me what happened to the daily links posts. When I switched the site’s layout I decided to stop having those posts generated automatically. If you visit the site ... ( more)
From Trader Mike - view blog entries - visit this blogMay 5, 2020 at 9:18 pm ET
There was a serious lack of action today as the market gave back a bit of last week’s breakout. All of the indices are in what I like to call “no man’s land” — ... ( more)
From Trader Mike - view blog entries - visit this blogMay 5, 2020 at 9:06 am ET
I’ll have MSFT and YHOO front & center on my screen today now that Microsoft has withdrawn their bid. Here’s a quick look at the indices. Of course the market kicked in ... ( more)
From Trader Mike - view blog entries - visit this blogApril 30, 2020 at 5:25 pm ET
Note: I’m taking off for a long weekend. Look for the next post Monday morning.
Well the Fed decision turned out to be anti-climactic. After initially building on the day’s rally the market ... ( more)
From Trader Mike - view blog entries - visit this blogApril 30, 2020 at 9:18 am ET
The market responded well to today’s pre-market economic data (GDP and the ADP payroll numbers) but it still has the 2:15 Fed announcement to deal with. Hopefully the reaction to that decision will move ... ( more)
From Trader Mike - view blog entries - visit this blogApril 29, 2020 at 9:21 am ET
One more day til the big bad event…
On Today’s Calendar:
10:00 — Consumer Confidence
More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic
Potential swing trades:
See one of the recent ‘Chart Reading‘ posts for ... ( more)
From Trader Mike - view blog entries - visit this blogApril 28, 2020 at 8:18 pm ET
It sure seemed like the market was on pause & waiting for Wednesday’s Fed decision. Today was one of the lightest volume days of 2008 and price stayed in a narrow range. The ... ( more)
From Trader Mike - view blog entries - visit this blogApril 28, 2020 at 12:53 pm ET
For my fellow Atlantans — this should be a good event:
DATE: Thursday, June 5, 2020
TIME: Appetizers and cocktails at 5:30PM. Presentation to begin at 6:00PM EST.
NOTES: This event will be co-hosted and ... ( more)
From Trader Mike - view blog entries - visit this blogApril 28, 2020 at 9:23 am ET
The indices remain close to their February highs resistance levels and I wouldn’t be surprised at all if they don’t move much until Wednesday’s Fed decision.
On Today’s Calendar:
nothing.
More Calendars: U.S. Earnings | Conf. Calls | ... ( more)
From Trader Mike - view blog entries - visit this blogApril 25, 2020 at 9:18 am ET
The Dow and S&P futures are indicating some follow through on yesterday’s rally but Microsoft is weighing down the Nasdaq a bit. I think a lot of traders will be focused on the S&P ... ( more)
From Trader Mike - view blog entries - visit this blogApril 24, 2020 at 9:21 pm ET
A rally in the dollar shook things up today. Financials led the indices higher while (dollar-denominated) commodities got sold pretty hard. Here’s a chart of the dollar showing something that resembles an Adam ... ( more)
From Trader Mike - view blog entries - visit this blogApril 24, 2020 at 9:18 am ET
We’ve fallen back into that oh-so-fun pattern of up one day, down the next. But this action isn’t so bad for the bulls because the market is attempting to work off its overbought condition ... ( more)
From Trader Mike - view blog entries - visit this blogApril 23, 2020 at 9:12 am ET
The market’s set to open slightly higher but there are plenty of earnings movers both up & down today.
On Today’s Calendar:
10:00 — Existing Home Sales
10:30 — Crude Inventories
More Calendars: U.S. Earnings | Conf. Calls | ... ( more)
From Trader Mike - view blog entries - visit this blogApril 22, 2020 at 6:49 pm ET
Selling were able to push the market back into Friday morning’s Google-inspired gaps. Things were even worse for the the Russell 2000 which gave back all of Friday’s gains and then some. It’s ... ( more)
From Trader Mike - view blog entries - visit this blogApril 22, 2020 at 9:37 am ET
I’ve long wondered how long current supplies of all kinds of commodities (natural resources) will last given how rapacious humans (especially Westerners) can be. After watching ‘Human Footprint’ on National Geographic Channel last week ... ( more)
From Trader Mike - view blog entries - visit this blogApril 22, 2020 at 9:16 am ET
Feels like we’re in for another quiet consolidation day as the futures point to a slightly lower open…
On Today’s Calendar:
10:00 Existing Home Sales
More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic
Potential ... ( more)
From Trader Mike - view blog entries - visit this blogApril 21, 2020 at 6:19 pm ET
We can simply sum up today as a low volume consolidation day. My outlook is the same as it was over the weekend.
Trend Table
No changes
Trend
Nasdaq
S&P 500
Russell 2000
Primary
Down
Down
Down
Intermediate
Up
Up
Up
Short-term
Up
Up
Up
(+) Indicates an upward reclassification today
(-) Indicates ... ( more)
From Trader Mike - view blog entries - visit this blogApril 21, 2020 at 9:21 am ET
The market’s set to retreat from resistance at the open today. I’m curious to see if Friday’s gaps can become support.
On Today’s Calendar:
nothing
More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | ... ( more)
From Trader Mike - view blog entries - visit this blogApril 19, 2020 at 9:12 pm ET
Friday capped off a great week for the bulls. For the week the Nasdaq was up 4.9% and the S&P was up 4.3%. However, the bulls weren’t able to end the week above ... ( more)
From Trader Mike - view blog entries - visit this blogApril 18, 2020 at 9:09 am ET
Google has lit a fire under the market with their earning’s report. It seems that they’ve surprised most on the Street b/c recently I’ve been seeing so many ANALyst notes about how their click-through ... ( more)
From Trader Mike - view blog entries - visit this blogApril 17, 2020 at 9:23 am ET
The futures last steam overnight and are now indicating a slightly lower open. I guess Merrill Lynch’s numbers are to blame. There’s potential for more than the usual amount of chop today thanks ... ( more)
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