Tag archive for ‘consolidation’
Range Riders
Like the day after Thanksgiving, we are still hungry but need time to digest a big meal. A token new high was made, but 40 pts in 2 days, with 15 of those points being scored in the globex session, left a need for consolidating.
If we guess correct about the type of day, then the [...]
Range bound
In what many thought was going to be an option expiration ramp day up ended being a restrained day of measured pace.
You know the drill, summer Fridays at the office in August are for the recreationally impaired. The work is done early, then it’s party time. I hope you play by the same rules; life seems [...]
The paws that refreshes
It has been said that Bulls lift the market up with their horns, and Bear markets slap you down with their paws.
Who knows whether we are in a Bull or a Bear market, I am certainly not bright enough to know. Let the analysts continue guessing; I am happy to take my slice out of [...]
What goes up, must come down
Gap up, trap early shorts, consolidate, squeeze them. Consolidate, pull back as profit taking, keep pulling back squeezing the longs.
The numbers change, but the patterns are familiar. A news report like the CPI is an excuse to move the market, and hapless traders get stopped out several times on the short side. Finally giving in [...]
Home on the range
Consolidations wear over-traders out.
Today was such a day.
Transparency in the market is seldom obvious, but today was an exception. The resistance held as expected, and support came in right on cue.
As an administrator in a popular chatroom, I advised traders correctly to the tic. Obviously I can’t be that accurate everyday, but it is certainly gratifying when [...]
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