The banking system is under pressure from the rate hikes, but inflation is still sticky. It will be interesting to see where CPI is tomorrow and how the Fed will handle any further rate hikes (or not). The energy sector was very heavy today, but technology bounced back a bit. Let’s take a look: Stay … Read more
In this video I review a few exchange traded funds on the higher time frames. You can see there is a lot of volume coming into them and they don’t seem to want to go much lower. This doesn’t mean they have to go bullish, but we should keep context in mind to balance out … Read more
I was reviewing some historical mutual fund performance and I think we all know this as traders – the market tends to do well after pullbacks and corrections. Well, maybe 2022 was the bear pullback that laid the foundation for a positive 2023. Lets see what this example shows us: Just a quick note, I … Read more
Just a quick note, I presented a “Bull/Bear Market” update in the Simpler Trading Free Trading Room. Be sure to watch the recording of the webinar with lots of material to learn from in this market Today I want to point out VanEck Gold Miners ETF (GDX) and KraneShares CSI China Internet ETF (KWEB). I … Read more
One more day ‘till February is in the books and as long as the market doesn’t implode, it will probably stay over the monthly 10-day moving average (MA). This MA has been a line in the sand for me. The fact that the market is closing over this MA means there is some positivity. Of … Read more
All last week I was guiding the Moxie Indicator™ subscribers into the idea that the SPDR S&P 500 ETF Trust (SPY) was likely to pull back and that the target would probably be the daily 50-day simple moving average (SMA). That target was hit Wednesday, and now we need to see if this area will … Read more
The Hourly Inverse Trampoline setups I had been seeing this week and cautiously pointing out finally triggered Thursday. The markets dropped Friday and I think they should continue, possibly to the SPDR S&P 500 ETF Trust (SPY) daily 50-day simple moving average. We never know how deep the pullback will be or how long it … Read more
We got the initial pullback to the daily 21-day exponential moving average (EMA) as I was expecting. Then I was looking for a pullback to the daily 50-day simple moving average (SMA) since the hourly Moxie Indicator™ is looking weak. But in case that doesn’t happen and price wants to flag, here is an example … Read more
So the pullback we were waiting for started Thursday. This raises questions about how far will it go, how long will it last, and will it be into strength or weakness? Whatever that may be, there are opportunities out there in both directions as we cashed in a nice short trade on Hut 8 Mining … Read more
We had a strong five to six weeks in the stock market and it’s due for a rest. I am seeing participation start to fall off and not a lot of setups jumping out at me. So let’s give the market some time to reset and refresh. Let’s look at the distance from the average … Read more