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,I keep a phone and an iPad on my bedside table, and if I happen to wake up at night take a quick look at the market. Today, around 4 am, the S&P was down about 60 points. The market opened at 9:30 about 45 points below Tuesday’s close. It rallied to a nearly 30 point gain by 3pm, but sagged to close five points lower. A rejected decline and a failed rally reflected an uncertain and nervous market.Let’s take a look at our 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…

Hello SpikeTraders,Markets gapped down the traded near the day’s lows in choppy trading for the remainder of the day. Yesterday the Fed increased rates by .75 basis points as they continue to try and fight inflation. What always amazes me is the fight against this inflation has only been talked about in the last six months or so, but inflation has been spiraling out of control over the previous two years. The Fed is always late to the game. Let’s look at the charts…

Hello SpikeTraders,What the stock market hates the most is uncertainty. You saw its wild drop in fearful anticipation of Fed’s rate announcement. And today, though the Fed has sharply raised the rates but also gave what sounded like a straight talk about its plans, the market seems to have decided: heck, I can live with that – and staged a sharp rally.Let’s look at our charts…

Hello SpikeTraders,The Dow Jones Industrials and the S&P500 closed marginally down with the Nasdaq closing marginally up in choppy trading. Volatility hit the markets late last week and yesterday as investors/traders worry that a larger interest rate hike this week from the Feds. The expectation is a 75 basis point increase when the Feds announce Wednesday. Let’s look at the charts…

Hello SpikeTraders,On the heels of brutal Thursday and Friday, today we had an even more brutal Monday. You may want to review Kerry’s NHNL post from Thursday in which he described what the market needed to do to recover its intermediate uptrend (spoiler alert: the market failed to accomplish that on Friday). The Sunday SpikeSpeak was headlined “May lows in jeopardy.” Today those lows are history, as the market hit a new low for the year.Let’s take a look at our charts…

Hello SpikeTraders,Markets closed lower as selling increased in the last hour of trading, with the S&P 500 closing down nearly 2.5% in the largest down day since the reaction rally began on May 20th. Let’s look at the charts…

Hello SpikeTraders,Yesterday I assumed that the closing near the upper edge of the recent 7-day range meant that the market finally made up its mind to move higher. Not so fast! It got smacked down again and remained in its range. Let’s take a look at our charts…

Hello SpikeTraders,Bulls and bears spent last week and this Monday in a narrow trading range. Today they explored both edges of the range before deciding which they liked better. Let’s take a look at our charts…