Well things are at a very interesting junction right now. I am trying to show what I am looking at here on my blog so that others might get an idea of how I analyse the market movements. I am not saying the markets will go one way or the other. I am just simply trading the bias, hence the name of my blog. When I started trading there was no internet. There was nothing available but boring antiquated trading books. I used to get the stock quotes out of the news paper and plot them by hand on a graph paper chart. Things have changes a lot since then. Some things for the better, others not so much. One thing is for sure. We continue to advance into the night regardless. Thanks for the nice comment that I got about being a 'go to' from one of my blog readers. That is a big compliment. It can be a lonely life life when blogging about such dry topics as trading.
CCC triple hooks are still coming off since mid February. This is when we saw a dramatic return to risk assets after the extremely bearish start to the year.
SPX weekly is right on resistance. I am not expecting a higher weekly high here but if there was it would be a game changer. See what happens. Looking for the stochastic to turn over.
DJIA is still on the domed house resistance that I have been following.
TRAN Dow Transports weekly is testing the kumo again. See if this is a rejection.
NYSE daily has found resistance at the 200 day MA. Watch is this breaks down.
NYMO daily is acting just like it did in October last year. It turned over in early Oct and the market didn't roll over until the first week of November. I expect the same again this time. Maybe see the turn first week of April.
Remember the old saying? "Sell in May and go away. Come back after St Ledgers day"
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