Hello SpikeTraders,Markets ended a choppy session lower as the Dow Jones Industrials closed down 173 points and the S&P500 closed right at the 3900 level, down 16 points. The Nasdaq lost 85 points, down for seven straight trading days, this is its longest losing streak since November 2016. Let’s look at the charts…
Hello SpikeTraders,Markets were closed today here in the US for the Labor Day holiday. Labor Day, for those that may not be familiar with the US holiday, it is a federal holiday in the United States. It is celebrated on the first Monday in September to honor and recognize the American labor movement and the contributions of laborers. Many consider labor day weekend as the end of summer, although the official end of summer is not until September 22nd, when the fall season officially begins.Markets suffered another down day Friday as the Dow lost another 338 points and the S&P500 closed below the 4000 level. The weekly supports are on the verge of breaking down, and failure to hold support will likely indicate the June lows will be violated. Let’s look at the charts…
This week Steve S. wins Gold with a 8.16% gain trading short TQQQ, Rich N. wins Silver trading short SOXL with a gain of 7.67%, and Louis C. wins Bronze with a gain of 3.68% trading long RYTM.
Hello SpikeTraders,Markets sold off early in the day but rebounded from their lows with the Dow Jones Industrials closing up 146 points and the S&P500 up nearly 12 points and the Nasdaq down 31 points. The afternoon bounce after the major indexes had suffered four days of losses that saw them end August with declines of between nearly 5%. Let’s look at the charts…
Hello SpikeTraders,Markets continued to sell off today and are now testing critical weekly support. The worries remain about how far the Fed will continue to raise rates, and recent data suggest that further rate hikes are inevitable. the Fed chairman mentioned the Fed must continue raising interest rates and hold them at higher levels until inflation is under control. Let’s look at the charts…
Hello SpikeTraders,First, I want to thank those that sent birthday wishes, and I appreciate you all!The markets have been under selling pressure the last few days and today saw new monthly lows increase to hits the highest level since June 16th, which occurred near the June lows. The Spike BOucen signal is now back in standby mode. Let’s look at the charts…
This week David C. wins Gold with a 4.85% gain trading long BE, Nikolas D. wins Silver trading short CALM with a gain of 1.55%, and Louis C. wins Bronze with a gain of 1.24% trading long RYTM.
Hello SpikeTraders,Markets closed lower today with all three major indexes falling 2% or or more. Let’s look at the charts…
This week Nilton D. wins Gold with a 27.66% gain trading short BBBY, Louis C. wins Silver trading long RYTM with a gain of 5.85%, and Nikolas D. wins Bronze with a gain of 3.43% trading long TDW.
Hello SpikeTraders,I am traveling back from a job site where I spent all day trying to determine a problem that, in the end, was not our issue, but the other person was convinced it was our issue. Many of you know I have a steel fabrication company, and so often, contractors think that if the steel doesn’t fit, it has to be the fabricating company’s fault. When I visit a job site, I will often uncover the real issue and have to spend the time and energy to show how it’s not the steel that is the problem. It’s usually another trade or the contractor that got something wrong that made the steel fit incorrectly. Sometimes we as traders believe it’s the strategy that is not working, but in reality, the trader that is not following the process correctly is at fault. Let’s look at the charts….