The market certainly does look strong here, so make a note of the upper levels of the Box of Beer.
The bears can take solace in two facts: 1) The market’s gains after the big XOM/XTO deal were rather unimpressive. 2) The QQQQ failed to close above its November 18th gap once again. The close on the 17th was 44.60, so that is the top of the gap. If the Q’s can close above 44.60, then that will be a strong indication that the market is intending to decisively break out of its range.
Of course, if the FOMC makes tightening noises in their announcement at 2:15pm on Wednesday, then all bullish bets will be off.
K,
Nice chart… nice secret.
2thfixr,
I have no idea which way SPY will break. I think your approach is solid. I’ll play the wavy cycles and when a break occurs I will hopefully be on the right side.
Lots of volatility around Fed-Speak. Usually it’s the 3rd knee-jerk that holds.
George,
I only have 2 screens but overall i have over 9 charts per screen lol
2thfixr.
is this going to become common now? “Oops it’s 3pm hold like that i gotta readjust my positions”
LOL
K,
For your club checkout…tradeofthe week.com…
to set up a website Julie? of you mis-spelled?
we have one and i’ll like to it when im satisfied how it looks
Here is club the site. have fun
Here is the club website
Take 2 ? lol
K,
I screwed up. Should be…tradeofweek.com…
In the prior post I added “the” delete it.
Hi
I’ve been reading your posts .. all very useful. Thx for that.
Do you guys all work independently or for fund managers?