This week Steve S. wins Gold with a 5.59% gain trading short TQQQ, Igor D. wins Silver trading long GTLB with a gain of 3.25%, and Mike C. wins Bronze with a gain of 3.15% trading short BJ.
Hello SpikeTraders,Markets pulled back today, with all three major indices closing lower. Profit warnings by Walmart put pressure on retail stocks, and weak consumer confidence data help stoke fears about an impending recession. It is not the news in itself that is important but the reaction to the news. Let’s look at the charts…
Hello SpikeTraders,Markets traded mixed and mostly in a choppy action today and did not leave us any additional clues after today. Let’s look at the charts…
This week David C. wins Gold with a 6.39% gain trading long ARKK, Jono W. wins Silver trading long ARE with a gain of 5.02%, and Nilton D. wins Bronze with a gain of 4.95% trading long META.
Hello SpikeTraders,Markets did the opposite of yesterday, this gapping up and trending higher remainder of the day closing at the highs. As noted yesterday, demand had to show up quickly and make a run at the +1-ATR channel. That action occurred today. Let’s look at the charts…
Hello SpikeTraders,The recent Password class is now upload into the Video Vault. I reviewed a few past trades showing tools that were taught in previous password classes.Markets had a gap and crap type of day, with markets gapping up at the open then traded lower remainder of the day and closing at its lows. Apple news hit the wires indicating the company would be trimming back hiring and reducing spending in preparation for a potential recession. More companies are likely to follow and this sort of becomes a self fulfilling prophecy. The markets have already been pricing in a recession the question becomes how deep of one will we encounter. Let’s look at the charts…
This week Steve S. wins Gold with a 8.07% gain trading short TQQQ, Daryl H. wins Silver trading short DDD with a gain of 4.30%, and Robert F. wins Bronze with a gain of 4.17% trading short YETI.
Hello SpikeTraders,I look forward to seeing many of you online shortly as we have our 56th Password class. I will cover a few trades featuring tools taught in previous password classes. See you online soon.The markets opened lower but then rallied most of the day, closing near their highs. The Dow closed down 142 points as the S&P500 rallied back near the 3800 level. Let’s look at the charts…
Hello SpikeTraders,Markets traded mostly flat half the day and then fell sharply in the afternoon closing near its lows. The selloff occurred before Wednesday’s inflation report, as the interest rate inversion inverted to levels last seen in 2007. The fears that rate hikes will send the economy into a recession remains. As previously mentioned, by the time the data says we are in a recession we are closer to the end than the beginning. The data is very lagging just like the inflation data has lagged. Let’s look at the charts…
Hello SpikeTraders,Markets closed lower today as the Dow dropped 164 points and the S&P500 fell nearly 50 points with the Nasdaq closing down the most losing 262 points. As mentioned previously, more and more analyst and market participants are bracing for a recession and Sentimentrader.com recently made a post showing some pessimistic outlooks. Let’s look at he charts…