Market Updates

Market Update 05-08-16

Okay — where are we at — what are we doing — and where  might we be going?  Of course, it’s a fool’s game to try and guess direction, but that’s okay.  We don’t need to know the future — only react to what’s happening now.

So here are the charts —

HOURLY

o50616 hourly

The last few days have been down days for the market and we’re under the 50 hour MA — that makes a short term down trend.  So be careful with your short term trades to the long side.

DAILY

spy daily 050616

As you can see we’re looking for a bounce on the 50 day to keep the recent uptrend in tact.  Will this hold?  There isn’t a lot of volume behind the bounce, so it’s looking iffy.

WEEKLY

spy weekly 050816

We have been in this sideways range for over a ear and it’s driving traders crazy because back and forth sideways slop is the worst trading environment.  Hopefully the market picks a direction soon.

TRENDS

  • Hourly – DOWN
  • Daily – UP
  • Weekly – SIDEWAYS

Not the best market for trading — so be careful out there.

Join The Discussion

Trend Trading Vs. Counter Trend Trading, Which One Is Better?
How The Biggest Retail Traders Got Rich
Would You Buy This Breakout?
5 Things To Do When Stocks Take off Without You
Russell 2000 (IWM) in Trouble…?

The markets have been rallying for quite some time — have...

Market Update 03-19-17

Happy Sunday everyone! I hope you all had a killer week...

Market Update 01-29-17

Well, January is coming to a close, the Dow topped 20,000...

Market Update 11-01-17

If you’re wondering why your trading might be a little choppy...

Get the Ebook today - Breakouts For BeginnersDownload
+ +