Jeff Cooper: SPY $238 Is a Critical Level
Last week the SPY/SPX attempted to turn up from the fourth shallow pullback since the Trump Train pulled out of the station in November. The first pullback was 26 SPX points into 12/2. The second was 40 points into 12/30. The third was 34 points into 1/31. So far the, most recent pullback has run […]
Continue Reading -->T3’s Take 3: The US Dollar Sinks on a ‘Meh’ Jobs Report
1) A ‘Meh’ Jobs Report This morning, the US Bureau of Labor Statistics said that 235,000 nonfarm payrolls were added in February, beating the 200,000 consensus. The unemployment rate was 4.7%, in-line with expectations. However, average hourly earnings grew by just 0.2%, missing the expected 0.3% reading. That drove profit-taking in the US dollar, which […]
Continue Reading -->Weekly Sentiment Update: Back to Neutral That Fast?
Permabulls always say everyone’s bearish. And permabears always say everyone’s bullish. But let’s look at the actual numbers to see how the crowd actually feels. Last week, we saw sentiment climb to frothy territory. Now, let’s see if anything’s changed now that we’re seeing some signs of deterioration, most notably the relative weakness in the Russell 2000. […]
Continue Reading -->2 Charts Active Traders Should Print Out
In Wednesday’s Daily Market Report, we initiated a short in EXP as it had traced out a 3rd lower high and closed for the 2nd time below its 50 day line. The chart below shows the waterfall decline following an ORB (Opening Range Break). Opening Range Breakouts (ORB) do a good job of capturing continuations […]
Continue Reading -->Jeff Cooper’s Weather Report: We’re Looking at Major Headwinds!
A year ago, oil was the tail that wagged the market dog. So it’s going to be important to see if that correlation comes back into sync. Long-time readers will recall our forecast for a low in crude at 26 on January 20, 2016. This was based on a time/price square-out on my Square of […]
Continue Reading -->Throwback Thursday: Two of Our Most Popular Articles
Meet the Traders! 8 Questions With Sami Abusaad 5 Reasons Forex Trading Might Be for YOU! Bonus Article: Trading: Trend Following vs. Counter-Trend
Continue Reading -->Is a Break to SPX 2300 on the Table In March?
The 3 Day Chart was an important tool in W.D. Gann’s quiver. He never specifically revealed how he used it — just to say “watch it for indications of a change in trend”. The majority of the time Gann wrote in the manner of the ancient mystics, hiding the real meaning below the surface explanation. […]
Continue Reading -->9 Ways to Destroy Your Account with Options
Options trading is fun. Options trading is sexy. And options trading can destroy your account if you don’t know what you’re doing. Profitable options traders understand the principles of options pricing, order entry, and market mechanics. If you fail to understand these 3 critical elements of options trading, you are not actually investing. You are […]
Continue Reading -->Jeff Cooper: Where Do We Go from This 8-Year Anniversary of the Bull Market Bottom?
Instead of a full analysis of gold and the precious miners promised for today, we are going to take a look at the stock market on this anniversary of the 2009 low. Tomorrow’s report will cover the precious metals. The SPX/DJIA are blowing off and the question is whether an ensuing decline will be a […]
Continue Reading -->Jeff Cooper: Gold May Hit $1200 Before a Super Advance
My favored scenario in gold is that the leg up from January 2006 was a wave 1 up following a near 5 year bear market. A corrective wave 2 played out into December 2016. If that is correct the recent rally was the beginning (a wave 1) of a powerful 3rd wave and this latest […]
Continue Reading -->