Today is our second day of OPEX week coming a day after a 1% test day on the SPX. The market didn’t like it so rallied back to green. The move however killed market sentiment and has the momentum from the February lows now in a holding pattern. To restore the market breadth will...
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Today begins March OPEX and the triple witching close for the week. The markets are overbought and stalling here as the Russell 2000 and Nasdaq composite have made new rally highs with the S&P 500, Dow and NYSE still sitting short of that accomplishment. The Russell is about 4% above its January highs with...
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We talked last night during our Night Moves trading session about watching the open today. The SPX closed above its January close and sat just over the great 1050 divide . If we developed a gap up overnight we can watch to see how well that 1050 area holds. A gap down and the...
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China released its inflation numbers last night throwing off the party attitude from the other markets. Surpassing most expectations, inflation in China rose to 2.7%, the highest in 16 months and up 1.5% from the January numbers. The trading markets lost footing and slide down on the news release and the futures took a...
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The bulls again showed they were in control of the markets meeting their goal of rejecting the gap down open, rallying to a higher high from the recent lows and closing above 1140. The bears might sense some false victory victory in turning back the advance above 1145 but they met none of their...
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The markets can be compared to a car engine. Like the car engine that requires multiple cylinders to fire in sequence to generate the torque to move, the stock market needs multiple segments to fire at different times in order to propel to new highs. During this rally the RUT and small caps...
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I ran into problems generating charts this AM, sorry for the lateness.. Last Friday’s price action and the action for the week was very bullish and sets us up for another leg in this market. The 4% price action on the value line put the 4% Zweig/David system back into the market...
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After being out the the market since Oct 30th, the thrust from last week has triggered the 4% trading system into entering long into the market. Tracking live now for over 225 days the Ned Davis/ Zweig trading systems with some RedlionTrader tweaks has re-entered into the Rydex 2x Russell 2000 ETF (RRY). A...
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Good morning. The big news today of course will be the release of the Jobs number. The stage has been set for a bad number which we are told to throw away because of distortions from the horrendous winter weather in the mid-Atlantic states. So the market has ignored it and rallied into the...
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This rally as certainly hit a pause here. Is it a sign of weakness or a pause for another push up? There is a lot of sentiment and breadth behind the current market. We need to watch for those to wane before we throw in the towel. Bears might be encouraged to jump in...
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