May 28th, 2024 The market has yet to hit a high that bears can trade off of. You can analyze all the macro or technical factors you want to determine when a high is being made, but it boils down to risk versus reward. When the market is setting all-time highs like it is now, […]
May 23rd, 2024 NVDA refuels the momentum for the bulls. Yesterday, I discussed how the market was at a critical moment where technically the market remained bullish, but the momentum had stalled. We were in a holding pattern for $NVDA earnings to determine the potential fate of the market. Both NVDA and the market have […]
May 22nd, 2024 Bulls are keeping the market in a holding pattern; they just have to hope that when NVDA earnings hit, the market doesn’t plummet like a Boeing. Technicals remain strong and support higher prices in the Indexes, but rates are creeping higher again, and all the bulls’ momentum relies on NVDA. I dislike […]
May 21st, 2024 Momentum is slowing, waiting for NVDA. Yesterday, the bulls had a good morning, but then momentum stalled, and we pulled back. Once again, buyers quickly stepped in on the selloff. This is expected as we have the world’s most important stock with earnings coming out tomorrow, and no one is too interested […]
May 20th, 2024 Remaining in rally mode. On Friday, the markets dipped briefly before buyers stepped in, reigniting bullish momentum. Rates rose throughout the day but have now stabilized this morning, supporting the bullish argument for today. Technically, Daily Bollinger Bands are still expanding, short-term moving averages are rising, and momentum indicators show we’re not […]
May 17th, 2024 The choppy rally. This market has been grinding its way higher, and the light volume chop will most likely continue to be how this tape moves. With the bond market struggling to hold any rallies, the longs in equities continue to be uneasy with staying too long… especially in RTY. This uncertainty […]
May 16th, 2024 As Journey famously wrote, don’t stop believin’. The rally still has legs. No doubt the rally is getting a bit frothy up here, but Bollinger Bands continue to expand outward, indicating range expansion, and we haven’t made what I consider a ‘good high’. Bulls remain in complete control of the tape, and […]
May 13th, 2024 Rotations. Markets don’t move in a linear fashion; there are ebbs and flows, and markets rotate between leaders as we move higher. Friday was a day of rotation as we saw flows coming out of RTY as rates went higher, and large caps held on to small gains. This morning, we see […]
May 7th, 2024 Building Momentum. The bulls persist in strengthening their argument that the recent low was a ‘good low,’ suggesting we are now heading back to the year’s highs. Markets typically transition from seeking lows to pursuing highs and in today’s high-speed markets, these peaks and troughs occur more swiftly than we anticipate. It […]
May 6th, 2024 The market holds a promising bid. The stage is set for the major indexes to continue their rally this week, potentially returning to the path for new yearly highs. Last week involved a tug of war, testing both the weak-handed longs and shorts. Dual-directional activity dominated, but the bulls have emerged victorious […]