The rebound from Friday’s carnage has stalled in the pre market, but indicators say, “Wait! There’s more!”
The ES fucutures need to clear 3408 to confirm that. If they roll over below that, bears could be in charge.
In any event, the worst do…
We have a selloff in the pre market, but the TA says, don’t trust it yet. Or maybe, “Trust, but verify,” for those of you of a certain age, like me.
Meanwhile, as for chart picks, I didn’t see much that I liked in this week’s screens. I didn’t add any longs. We’re already loaded to the gills there. I added two shorts, and one is conditional on a limit price entry.
4 picks were stopped out last week. With the the 2 new picks, that will leave 16 open picks, including 12 longs, and 4 shorts.
List performance improved last week, with the average gain increasing from +2.9% to +3.8%. The average holding period rose from 12 calendar days to 13, which is still less than the usual 16-20 days because I added a slew of new picks the previous week.
Chart picks are theoretical, assume 100% cash stock trades, no margin, no options, no futures.
I once read somewhere that past performance doesn’t indicate future results, or something. Is that true? Hopefully it is, considering some of my past performances.
4:30 AM ET That’s right. Happy European Standard Time Day. To my fellow Merkans, I am temporarily only 5 hours ahead of you on the East Coast. It’s 9:30 Central European Standard Time and 4:30 AM in New Yawk! I’m behind the 8 ball! Gotta get to work and get a Technical Trader report out to you this morning (Done!).
In other news, the virus has exploded here in Europe and in the futures, the 5 day cycle projection is 3406 …
Last week I was surprised when the US Government’s retail sales data hit a new high. No way, I said.
Well, Way!
Yes, some retailers are seeing booming sales, particularly online, and … wait for it…
Grocery stores. Even after pulling back from the lockdown spike, they’re still up more than 7% year to year.
Now there’s a basis for a thriving, growing US economy.
Not.
On this, the 20th Anniversary of Capitalstool.com, the progenitor of the Wall Street Examiner and Liquidity Trader, I want to share a few thoughts with you. Please “bear” with me, and come along.
I sometimes am asked to give my opinion on the work of other analcysts and eConomists.
This speaks for itself.
Slight breakdown overnight, and then immediately back to the low side of the range. Yesterday’s rhythm was like atrial fibrillation. Next comes a stroke.
My takeaway is that there’s dark matter or dark energy …
We’ll get to the bottom of it.
We have arrived at that fork. Downtrend meets uptrend on the hourly chart of the ES fucutures here at 4:40 AM ET. Hourly oscillators have just edged to the sell side. The 5 day cycle projection still points to 3400 but multiple support lines loom 3425-…
That’s what came. You need to know what’s coming.
Obviously, I did not like the action in the metal and miners yesterday. They are edging toward a potential breakdown, but there’s still time for…