Pullback, Plunge Or Panic… How Bad Will it Get?
“Move over once, move over twice.” – One After 909, The Beatles The rare monthly SPX sell signal (only a handful of instances in the last 2 decades) that we noted at the end of August may be coming to fruition — just at the time when some savvy market watchers/money managers are exclaiming yesterday that “there […]
Continue Reading -->Where Is Bitcoin Headed and Is It A Tell For the Market?
There has been a strong correlation between Bitcoin and the broad market. IWM topped on March 15. GBTC, a good representation of Bitcoin, peaked on February 19. Following a trend break in the spring, GBTC traced out 3 drives to a test before snapping its 50 day line with authority. GBTC recaptured its 50 day ma […]
Continue Reading -->The Magic Number
As long as the market doesn’t break below a certain number this week, the bias should continue to be bullish. But if it goes below, expect a pullback. What is that magic number you should look out for? In this video, Sami explains: – Why he thinks IWM could break out – When a major […]
Continue Reading -->Scott Redler’s Dog Bytes: Tech Watch
SPX futures are flattish. We’re getting a slow start to the week after the weaker-than-expected jobs data from Friday. The consensus is that the Taper will start December and might be a reduction of $10B instead of $15B. The 9/22 Fed Dot plots will be important. September is historically a volatile month, but we can’t get too […]
Continue Reading -->The Power Of Three: IRNT
Patterns are like X-Rays on stocks. They telegraph their intentions. Oftentimes stocks play out in threes: Triple bottoms, triple tops, Head & Shoulders, Cup & Handles, Triangles, etc. You seldom see quadruple tops or bottoms. The 4th time through usually seals the deal for continuation… often explosively so. On Friday, we drilled down to the […]
Continue Reading -->In The Belly Of The Beast
The SPX has marched up from a low of 2192 in on March 23, 2020 to last week’s high of 4545. Interestingly, as the weekly SPX below shows, the week of the March 2020 low was the largest range week since the low while last week was the narrowest range week since the low. So last week […]
Continue Reading -->How The Power of 3 In the Markets Signaled Two Explosive Winners For Hit & Run Members
Markets oftentimes play out in 3s. Cup & Handles, triple tops and bottoms, Head & Shoulders patterns. I developed a strategy I call a Rule of 4 Breakout when a stock (or market) breaks out of a lateral or angular 3 point trendline. Before Wednesday’s close we alerted Hit & Run members to go long ASAN, anticipating […]
Continue Reading -->They Say It’s Your Birthday
Today is the anniversary of the 1929 top. As a friend and fellow trader commented, no one thinks it’s 1929; of course, folks on this day 92 years ago didn’t think it was 1929. Now these anniversary dates may seem like voodoo to many market participants, but to the pre-eminent market seer of the last […]
Continue Reading -->Options In Play – Sympathy Pop On NET
It’s not always the name that reports that has the best move. Similar to other Cyber Security names last week, NET was the go-to sympathy play this week.
Continue Reading -->How To Find Keyser Soze Killer Setups
“How do you shot the devil in the back? What if you miss?” – Keyser Soze, The Usual Suspects INMB exploded above its 50 day line in early June, running up 100% within weeks. The large range bars at the July highs were climatic, signaling a well deserved pullback. The pullback saw INMB return to “the […]
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