Wednesday Market Wrap-New Addition

For the day the SPX/DOW were +0.30%, and the NDX/NAZ were mixed. Bonds lost 11 ticks, Crude added 55 cents, Gold dropped $4, and the USD was higher.  Short term support is at 1973 and SPX 1964, with resistance at SPX 1991 and 2019. Tomorrow we see weekly jobless claims at 8:30, then existing home sales, [...]

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Tuesday Market Wrap

New levels……… Short term support is at 1973 and 1956, with resistance at SPX 1991 and the 2019. We ended the day very short term overbought, so I took  some profits, if you are following along at home please click the P&L tab for  any adjustments. There are still great setups out there and I’m [...]

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Monday Market Wrap

Nice market today.  With the NAZ and NDX both in confirmed uptrends it appears it’s just a matter of time before the SPX and DOW confirm as well.  The SPX took back its 50 day moving average today and the DOW closed right at its 50 day.  Short term support is at SPX 1964 and  1956, [...]

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OMG…. Sell Everything

Get used to Russia being a pain in the ass. They love to agitate. With all the alarmist media coverage on Friday the market did just fine for the week. As a matter of fact the Nasdaq flipped the macro jokers the bird and made more highs.  Gold is hilarious and did nothing Friday. The [...]

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Don’t Fret Europe

You all know by now that the market isn’t the economy, and right now Germany and France are calling for a slower second half as well as a slower first half next year. Deflation is also becoming a huge possibility.  The ECB put a big fat band aid on cancer and until recently things were [...]

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Thursday Market Wrap-New Name

For the day the SPX/DOW were +0.40%, and the NDX/NAZ were +0.45%. Bonds gained 5 ticks, Crude dropped $2.15, Gold added $1, and the USD was lower.  We ended the day pretty short term overbought, as you can see in the chart below, what was some support, is now some resistance, so be a little careful. [...]

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Wednesday Market Wrap

For the day the SPX/DOW were +0.60%, and the NDX/NAZ were +1.10%. Bonds gained 10 ticks, Crude gained 5 cents, Gold added $3, and the USD was higher.  The market gapped up at the open for the second time this week and we cleared the SPX 1940 level and closed at 1946. Please note the new support [...]

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Go Be Different

“Seize the day. Because, believe it or not, each and every one of us in this room is going to stop breathing, turn cold and die” -Robin Williams, Dead Poets Society People die every second. If Robin Williams worked produce at Costco we wouldn’t know. If Jim Morrison worked at Jiffy Lube we wouldn’t know. [...]

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