Market

Today I look only at the SPY and VIX chart, but I forecast two potential scenarios in the market, that both lead to a higher (lower volume) ending day (0.5-1%) for tuesdays trade. The first is a small gap higher due to the amateurish action that happened in the last 20 minutes of trading and then a sustained low volume increase until the end of the day, potentially forming a doji green candle. The second is a continued sell off lower to hit the 88.20 level in which we will reverse mid day and end the day potentially flat or slightly positive. I hope you take my words of advice that I put out on this video because it is extremely important in order to become a good trader!

Duration : 0:10:20

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Today I update my fellow viewers on what the last 2 days of action really mean for this market. The DOJI candle that formed today on incredible low day could be viewed as two things: The first, is that it is a consolidation pattern for the huge move up that we had on Thursday. The second is that it is an indecision reversal candle. i would believe the former only if we get another day of consolidation down on low volume. However, I believe the latter because there are a lot of resistance which points could point to a move lower. We formed a double top area at 922 on the SPX, and this could actually be the top of the right shoulder. As we form the Head and Shoulders formation, other resistances such as the 923 level, descending channel, 20 SMA Daily lie overhead and could provide a strong push lower. Monday’s action could be one of a fakeout, we might get a rally in early trading to hit those resistances and then fall down from there to at least down 1.5%. If we fall down on low volume though, I will look to position myself long. My other advice is to not get too bullish before the 923-924 is broken. And also to take profits at the 880 level if it is reached at any point next week. We could very well break 880 but i think taking some profits off there is important and essential. I look at the SPY, AAPL, GS and VIX

Have a great weekend!

Duration : 0:7:46

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Hey guys,
Today I give out a daily, weekly and monthly update of what I think is to come. Today’s last 10 minute of trading was probably due money managers and institutions wanting to have some of that long exposure to show their clients and tell them that they have not totally missed the 4-5% move up for the month of may. In the past 2.5 weeks we have been trading in a descending triangle formation, and we managed to break out in the last 10 minutes of trading, just to find resistance at another descending resistance which dates back to november and the january 6th high. In the first 5 minutes of the afterhours trading both the ES and the SPY hit the 200 SMA, even though the S&P remains 1 % away from the 200 DMA, there is a chance, that it may never touch it, since it’s been touched in the after-hours. We could however, see a small push on the S&P to touch that 200 SMA at 924-926 only to back off later in the week. Note: The Dow Jones 200 SMA is still about 4-5% away though, and that a fakeout slightly higher is possible. The financials today were weak, and kept the market from breaking to new highs, although at around 3:15pm the financials finally caught a bid and helped this market break out of a symmetric triangle on the 10 minute candle scale and then we saw the massive shoot up higher. Today I also look at the VIX, XLF, and explain why i see that we could move lower for the next month or month and a half.

Duration : 0:9:36

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Today I look at the SPY, GS, VIX, AAPL, AMZN and talk about some other charts as we end the month with a Doji candle and the day down with somewhat stronger volume. The action is still not bearish and is more neutral, wednesday and thursday will be incredibly important.

Duration : 0:8:38

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