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 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…
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Hello SpikeTraders,First, an announcement: we’ve scheduled our next Password class for 6 pm on September 8 (Thursday, a week from tomorrow). Class details and a link will be sent tomorrow, but you can already mark your calendar.Today, for the third day in a row, the market tried to a rally in the morning but sank and closed lower, dashing bulls’ hopes. Let’s see what our charts tell us today…
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…
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Hello SpikeTraders,Today’s rally got going at the open, topped out around 11 am, and then the market hanged flat. It woke up in the last half hour of trading and by the end of the day hit a new high for the week.Let’s take a look at our charts…
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Hello SpikeTraders,Yesterday, NHNL gave us a Spike Bounce signal. It was rated weak, but today’s rally was quite healthy. Let’s take a look at our charts…
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Hello SpikeTraders,Today, after a vertiginous decline on Friday and Monday, the market traded in a narrow range. The S&P opened flat, poked six points below Monday’s low, and closed below Monday’s close. The numbers of New Highs increased while New Lows diminished. Let’s take a look at our charts…
Hello SpikeTraders,Markets closed lower today with all three major indexes falling 2% or or more. Let’s look at the charts…
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….