Good afternoon, traders. In yesterday’s post, I pointed out that if the bears could continue to push, that we would probably end up at the large head & shoulders neckline, and the bears delivered:
Read more “Market Update for Thursday, September 21st, 2023”
Good afternoon, traders.
After a harsh reaction to the FOMC meeting, the bears are getting even more out of this bear flag:
Read more “Market Update for Wednesday, September 20th, 2023”
Good afternoon, traders.
We’ll keep today somewhat short.
The bears got some more out of this bear flag:
Good afternoon, traders.
Following up this weekend’s article, we have this bear flag, we’ve broken from it, we’re looking as though we’re retesting it from beneath:
Happy weekend, traders. In this weekend’s article, we’ll look at the local price action of the S&P 500, consider some bearish and bullish alternatives in general, look at the long-term picture and we’ll look at some developing structures on some assets.
In Thursday’s update, I discussed my creeping doubts about a more bullish outcome in the short-term because of the NDX’s nasty stank price action. Its smashed appearance on Thursday called into question an impulsive leg up and I offered an alternative that looked for lower prices on Friday, and that turned into an understatement.
The Bearish Alternative
As things stand now, we face a bear flag on the SPX that looks like this:
Read more “The Weekend Review of the Markets: No Looking Back”
