On Wednesday, May 3rd, we had the FOMC event and Federal Reserve Chairman Jerome Powell’s Q&A session. They changed some wording from the previous statement, but he remained fairly hawkish. He did not say they would pause with interest rate hikes yet. He only stated they would be data-dependent. Let’s see what the charts are … Read more
Looking at the monthly time frames of the major indexes, you would think we are in a pretty strong market. While a few names have done well, support is not broad-based, and breadth is poor. So will participation start to get better eventually, or will the indexes succumb to the poor breadth? This week, pay … Read more
The old phrase, “sell in May and go away” is starting to warm up. With FOMC next week, it might be the double trigger to kick off a down move. Stay tuned. Stay up-to-date on the market reactions to FOMC next week. My Moxie Indicator™ Mastery Program members learn how to combine fast-moving signals and … Read more
The Put/Call ratio is low and getting to a point where the market usually changes direction. The long side could run out of strength, and we could see a reversal. We then look at the internals and see they also confirm some weaknesses. The Nasdaq (QQQ) also shows an inverse trampoline move, be careful on … Read more
The indexes have done a remarkable job of staying over certain moving averages and crawling up. I am seeing signs that we are likely to see a pullback soon, though. We are never quite sure what the pullback will look like, so let’s take it one piece at a time and be prepared for quick … Read more
Many traders have been talking about complacency phases in specific stocks. In today’s video, I reviewed a few charts that suggest opposing market outcomes. We don’t know the answer to these outcomes yet, but we can keep our minds open if we learn to understand the possible results and what they mean for the market. … Read more
As I reviewed the recent market, I began to see that some names, such as Pinterest ($PINS) and Shopify ($SHOP), have been moving up off their ultimate lows. The way they have been doing so caught my eye. I started applying some lines on larger time frames and found interesting and similar trends. Check out … Read more
Last week, we had non-farm payroll and the unemployment rate release. With additional market events happening this week, let me show you three setups that have worked using the Moxie indicator, and its rules. Let’s take a look: FREE WEBINAR: Join John Carter, David Starr, and Henry Gambell and discover their NEW Day Trading Road … Read more
Now that we are done with the first quarter, statistics came out showing that if the SPY gained more than 7% during that time, there was a 100% record of being higher a year later. This is fun to know, but it also doesn’t tell us what the future path will be like. Here are … Read more
The market responded favorably to Personal Consumption Expenditures (PCE) data report that was released late last week. Leading into that, several names were gull flagging and popped on that Friday data info. Let’s take a look at some Moxie Indicator setups and how it can show us the way this week. Let’s take a look: … Read more