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…

Hello SpikeTraders,“When in doubt, stay out” is an old Wall Street saying.In my SpikeSpeak a week ago I wrote “…this summer rally had entered its topping-out zone.” And in my NHNL post on Tuesday: “In my personal trading, I am standing aside this week.”Let’s see what our charts tell us today…

Hello SpikeTraders,Market’s steady rise off its June bottom had sent speculative juices flowing, and by early August the notorious FOMO (fear of missing out) was in full swing. That wave may have crested last week, with spectacular sinking spells in well-known ‘meme stocks’ such as AMC, BBBY, GME, etc, as well a whole lot of newer ones, such as SAVA and VERU. Each morning I take a quick glance at bitcoin – not to trade but as a measure of speculative temperature, because that’s where gamblers are. Last Friday this ‘currency’ went down over 10%.Let’s take a look at our charts.

Hello SpikeTraders,Markets have been in rally mode since mid-July, although many traders and investors have distrusted the rally’s strength, typical during trend changes. Those that have sold have sold out, and it takes little buying demand to push prices higher. Due to many investors being nervous about stepping into the market as buyers again, there are fewer potential sellers. There are very few restless hands to sell on the first sign the rally is stalling. Only stronger hands hold the stock, supply is depleted, and no new anxious holders have shares to sell at the first bump in the road. Are the bear market on the cusp of confirming it’s over and a new uptrend is ahead? Let’s look at the charts…

Hello SpikeTraders,Markets have been in rally mode for the past couple of weeks with the S&P500 moving up to its daily 3-ATR channel. Markets tend to form a bottom when the outlook remains bleak. The continued worry of inflation and the Fed increasing rates that may push the economy into a recession, if we are not already in one continue to weigh on most investors/traders minds. The market had already priced in these events to some degree and it becomes a question whether these events unfold better or worse. The intermediate trends remain down while the short term trends have turned up. As the markets find upper resistance levels we will want to be very watchful of the support levels the market must hold for this rally to continue and eventually have a chance to change the intermediate trend from down to up. Let’s look at the charts…

Hello SpikeTraders,Last week, S&P stayed flat on Monday, dropped into its value zone on Tuesday, and from there erupted into a powerful rally, closing at a new high for the month. Let’s take a look at our charts…

Hello SpikeTraders,Markets closed lower on Friday after a 3 day win streak, after they held critical support levels. Markets opened high but traded lower remainder of Friday after some weak quarterly reports caused concerns of a future recession. The worry going forward will be how much of a slowdown will the economy encounter and whether a recession is in the cards. Let’s look at the charts…

Hello SpikeTraders,The recording of our latest Password class is being processed. We expect to have it ready this week and will send out an announcement.Kerry and I carefully study the market, share our findings with you, and conclude with clearly stated views, without double-talk, which is so common in this industry.On Wednesday, I wrote in my NHNL post: “The bullish correction rally that began in mid-June is hanging on by skin of its teeth. Too early to panic.” On Thursday Kerry posted NHNL: “The Spike Signal remains with a bullish divergence… Despite the negative news, this market must prove it can rally soon.”Let’s see what our charts tell us today…

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…

Hello SpikeTraders,If you live in the US – enjoy your holiday weekend, and if you are abroad, please keep in mind that the US markets will be closed on Monday in observance of the Independence Day holiday. The next holiday will be Labor Day on September 5 this year.This is the first weekend of the second half of the year; let’s see what our charts tell us today…