Good morning Europe is all aglow. Investor confidence jumped with the results of the Eurozone bank tests and the renewed industrial activity from a weaker Euro. To our European friends the world is looking a lighter brighter. What do we need to do here to get the same feeling? Tomorrow is Fed day...
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Good morning. Waiting for the Jobs data which should set the mood for the day.. Seasonally we are in a window of weak data, our momentum to the upside has stalled and we have traded in a range between basically 1120 and 1127. For this market that is a pretty small range. The jobs...
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Good morning. If we can get some momentum gain from the employment numbers over the next couple of days it is within reach to hit 1148 sometime on Friday. We have some climbing to do to get there but it is within reach. Quote of the day: Science is organized knowledge. Wisdom...
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Good morning. A weaker morning this AM with mixed results overnight a weak Japan and a ho hum China. The UK took a little step back this morning based on some weaker than expected economic news so we find ourselves back a little bit from the starting line setup with Tuesday’s close. You will...
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Good morning. We are wafting to see if we can get a follow through day today. The world did its part last night and kept us in the ballpark for a flat open. There is plenty of news this morning to set us on our assigned course. 8:30 am we have personal income...
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![Gap up and away today $SPX.. [Chart].. 1132.50 on the close?](http://redliontrader.com/wp-content/uploads/GapupandawaytodaySPX..Chart.50ontheclose_6B03/image_thumb.png)
Good morning. Looks like we are going to gap open for our first trading day in August. I have a wide trading range today as we start out the day with an outside out-of-the-park high target of 1132.50 should we blast out of our current trading range crowned at the 1116 area. First trading...
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Good morning. This morning as I sip my coffee and write my blog we are sitting with a -4 point handicap on the markets. ES, the S&P futures, seems to have found a temporary bottom at 1090 having bounced there 3x times now. Yesterday we stayed within the confines of our fence for the...
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![Can we get out of this range $SPX 1102 –> 1116? [Chart]](http://redliontrader.com/wp-content/uploads/CanwegetoutofthisrangeSPX11021116Chart_6E50/image_thumb.png)
Good morning. We are nursing a 6 point SPX gap up this morning @ 7:20 am on what is a test the bulls day. Today by the end of the day we should know what this market is made of. Super bulls or situation normal. I will save the market comments for the...
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Good morning. A little sideways action is the way that strong bull markets correct. We are coming into the close of the month midst earnings season which is seasonally strong for the rest of the week. Europe gapped open strongly but was not able to hold the gap and has fallen off since...
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![Market Rockets even higher – 200 DMA has been breached $SPX [chart]](http://redliontrader.com/wp-content/uploads/MarketRocketsevenhigher200DMAhasbeenbrea_6773/image_thumb.png)
Despite the recent chants that the markets are dead we are falling apart and going to 950 or 600 or 90 they have instead rocketed in the upward direction with a dizzying momentum. Those of us who study thrust and breadth are shaking our head. While we could see the turning tides we...
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