Hello SpikeTraders,Markets closed mostly flat in a volatile session closing off its lows The Dow Jones closed down 103-points while the S&P500 closed lower by 5-points and the Nasdaq was marginally higher closing up 6-points. The markets closed off their lows after trading down at its -3-ATR channel. Let’s look at the charts….
Hello SpikeTraders,Markets closed mixed with the Dow Jones Industrials closing down 85-points, while the Nasdaq closed up nearly 1% and S&P500 closed marginal higher. Markets struggled to recover from the recent sell-off that pushed all three major indexes to their lowest levels this year. The inability to bounce form oversold conditions shows how weak this market has been. Let’s look at the charts…
Hello SpikeTraders,First, a very Happy Mother’s Day to all the moms. You are genuinely unsung heroes!The Bear Market has been extending its growl as rallies have failed and cannot show any upside follow. The number of new monthly lows has been elevated and not falling below the critical 500 level. Rallies cannot be sustained with new monthly lows staying above 500. The February lows were violated last week, and the Fed increased interest rates by 50 basis points.Let’s look at the charts…
Sorry for the delay but Spike Speak will be posted later tonight due to a technical issue that I am having to resolve before posting. It will post tonight but maybe late into the night.
This week Louis C. wins Gold with a 3.08% gain trading long NEXT, Daryl H. wins Silver trading long BKR with a gain of 2.96%, and Robert James B. wins Bronze with a gain of 2.89% trading long GOLD.
Hello SpikeTraders,Market trends have various market characteristics, and bearish markets have short-lived powerful rallies, only to see those gains given up quickly. Bearish markets will trigger Spike Bounce signals, but we will see new monthly lows remain elevated. Let’s look at the charts…
Hello SpikeTraders,Markets closed higher with the Nasdaq closing the strongest as late day rally came after the S&P 500’s worst January-April percentage drop in 90 years. Bearish markets will show this characteristic where after a stretch of weakness have a late day rally from short covering. Let’s look at the charts…
This week Robert F. wins Gold with a 5.18% gain trading short EVBG, Jono W. wins Silver trading short AAL with a gain of 4.53%, and Mike C. wins Bronze with a gain of 3.79% trading short DG.
Hello SpikeTraders,By the time this posts Alex will be teaching the next Password Class on Trader’s Housekeeping. We hope to see many of you live tonight. If you can’t make it a recording will be upload by early next week.The markets showed no ability to rally form oversold conditions today trading in choppy action and closing near the lows of the day again. A sign of a weak market is its inability to rally form oversold conditions. The February lows is looking like a magnet calling for a full and complete test of those lows. Let’s look at the charts…
Hello SpikeTraders,Markets failed to follow up on yesterday’s reversal from oversold conditions and closed near the lows of the day. The Dow Jones Industrials fell over 800 points. Too many negative catalysts are keeping any demand from forming and then supply re-enters the market. One of the signs of a weak market is the inability to rally from oversold conditions. Let’s look at the charts…