Hello SpikeTraders,Market participants are reluctant to hold stocks for long as they fear the economy will go into recession as the Fed continues to hike rates to battle historical inflation. By the time any official reports let us know we are in a recession, we will be closer to the end of the recession than the beginning due to the nature of the lag in the reports. Some analysts believe we have already entered the early stages of a recession, and it is a matter of how deep of a recession we will have. A recession always starts when the economy seems good, not when everyone knows a recession has arrived. The recent downward trend is the market’s pricing in some sort of slowdown. The question is just how much of a slowdown we will have. I read a report a few days ago about how one analyst suggested the country needs a slowdown/recession to help put things back into some normalcy and correct the supply chain issues and employment shortage. Let’s look at the charts…
This week David C. wins Gold with a 18.44% gain trading long NTLA, Steve S. wins Silver trading long TQQQ with a gain of 8.11%, and Mike C. wins Bronze with a gain of 5.96% trading long AMZN.
Hello SpikeTraders,Markets closed marginally higher as the Spike Bounce signal triggered again. In a weird way the markets are looking for the economy to slow down so the Fed may not have to be as aggressive in increasing rates and inflation slows down. Let’s look at the charts…
This week Nick V. wins Gold with a 7.39% gain trading long TNK, Robert James B. wins Silver trading long WCC with a gain of 1.66%, and Rich N. wins Bronze with a gain of 1.46% trading long CAR.
Hello SpikeTraders,Markets gapped up then reversed shortly after and traded lower remaining of the day closing near the lows. The S&P 500 was down 2%, falling well below the 3900 level as the Dow fell nearly 500 points, and the Nasdaq dropped almost 3%. Let’s look at the charts…
Hello SpikeTraders,Markets traded in a tight choppy trading range with all three major indexes closing down marginally lower after Fridays huge rally and closing higher over 6% last week. A pause after such a large gain is not unexpected. Let’s look at the charts…
This week Igor D. wins Gold with a 11.52% gain trading long ZM, Rich N. wins Silver trading long TQQQ with a gain of 8.81%, and Nilton D. wins Bronze with a gain of 5.37% trading long TNA.
Hello SpikeTraders,All three major indexes closed positive after rallying off their lows and closing near the highs of the day. Federal Reserve Chairman Powell stated before Congress the Fed is committed to cutting inflation at all costs, and acknowledged a recession was "certainly a possibility." That indicates the Fed will tip the economy in =to a recession if needed to defeat inflation. Let’s look at the charts…
Hello SpikeTraders,Markets closed higher after markets were closed yesterday for the Juneteenth federal holiday. Markets gapped up and traded at the highs remainder of the day. An oversold bounce is not surprising when the indexes begin to get oversold down at their weekly -3-ATR channels. Let’s look at the charts…
This week Robert F. wins Gold with a 6.57% gain trading short HAYW, Nilton D. wins Silver trading short VXX with a gain of 3.01%, and Louis C. wins Bronze with a gain of 2.84% trading long NEXT.