What about the Canary? Remember in the last episode, where we discussed the short squeeze I was waiting for, along with three potential, macro, bullish catalysts? Those three catalysts being: 1) a resolution of the trade war with China without further escalation, 2) threats against Mexico not coming to fruition, and 3) a rate cut … Read more
A tariff macro-theme update. New York City is awesome! While I’m jam-packed with media appearances in the Big Apple, this market is too interesting to not talk about… even from a cab stopped in Time Square traffic. Overall, I’ve viewed the indexes as oversold over the course of the past week, with the market pricing … Read more
& the weakening of the Indexes Last week, we discussed the changing market conditions, as the market began to make a steeper pullback than what it’s done previously, throughout 2019. We also discussed potential buys, only once the market bottoms out, and buyers begin coming in. We also talked about the potential break of key … Read more
In the last edition, we discussed strategies to use to prepare for market pullbacks. Market pullbacks are just part of our reality as traders. For me, like I noted, I tend to stick with a swing trading approach and hold through a minor reversion to the mean. Typically, especially on a news related drop like … Read more
Last week, I wrote to you about FAANG earnings, and I noted the volatility that this week in earnings season can cause. Now, at the end of the day, I always think it’s better to be overly cautious rather than overextended. The consequences of the latter are much worse. However, in this instance, I feel … Read more
They say in trading you shouldn’t be emotional — and they’re right. However, there’s something about when you get a good zinger that makes it hard to forget. There’s such a balance between: ‘don’t be emotional’ and ‘learn from your mistakes.’ Why am I talking about this today? Well, next week is FAANG earnings. Last … Read more
We’re currently stuck in what we like to call, “Hurry Up and Wait” mode. This is a phrase that John has coined, but it’s stuck with me and this is the exact moment to use it. Why? The S&P has been stuck between 2885-2900 for the past several days. Generally, a key psychological value like … Read more
as the S&P pauses at resistance. You may have noticed that the market has been a bit lackluster after the initial test of $2815 in the S&P. As a key area of resistance, in fact, one of the last major areas of resistance on the path to $3,000, it’s no surprise that the S&P is … Read more
Let me show you. After my webinar last week and my upcoming one this week, I’ve been getting a lot of emails asking how well Phoenix works. Plain and simple, now that I have it, I can’t imagine trading without it. So what I’m going to do for this issue is present to you a … Read more
Time and time again I’ve had people tell me, “But HOW did X chart trade directly through my resistance levels?” And I’m right there with you. I’ve said it myself a time or two. That’s why today, especially with this crazy earnings season (where that could very well be happening to you right now), I’m … Read more