Hello SpikeTraders,First of all, thanks to two friends in SpikeTrade, who during the past week alerted me to two scammers – one on Twitter, another on Instagram. The crooks pretended to be me, copying some of my photos and linking my good name to their cryptocurrency scams. I had earned my reputation by decades of honest work and felt bitter about that crookedness. Both Twitter and Instagram pleasantly surprised me by the speed with which they took down scammers. Thanks to both friends who not only alerted me but also filed their own complaints against scammers.Well, let’s turn to our charts…
Hello SpikeTraders,Stocks ended mixed with Spike Bounce signal moving into neutral mode. The S&P did manage to move above the 4000 level but retreated from its highs of the day going into the close. Let’s look at the charts….
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,Just like a pretty crazy top in December 2021 created excellent shorting opportunities, the current crazy bottom being traced will create excellent buying opportunities. The challenge is to approach this bottom with cash in hand and a stable mental attitude. Both require an ability to cash out and/or take losses as soon as prices begin to slide. If you haven’t done it this year, chalk it up to experience and use it as an unforgettable lesson for the rest of your trading life. Extract this value from the current nastiness. “The first loss is the best loss.” Let’s take a look at our 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,A friendly reminder: the recording of our most recent Password class is now in Video Vault (on the Education tab). Today and Tuesday are the last days for free access, afterwards this recording will migrate to our Traders’ Shop.Let’s take a look at our charts…
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,What the market hates the most is uncertainty. Today’s its counterintuitive reaction to the interest rate hike illustrates that. Mr Powell laid out clearly what the Fed will and will not do – and the big money quickly understood how they can live with that.Let’s take a look at our charts…
Hello SpikeTraders,I hope you noticed an announcement on our front page that the recording of our latest Password class is now in the Video Vault. Free access for all Members, including Trials, until May 10. It takes Kerry and me long hours to prepare each class, which is why we sell those recordings in our Traders’ Shop. Current yearly and monthly Members, however, get free access to live classes, and afterwards we give all Members free access to those recordings for one week. I hope you find the latest class practical and useful.And now let’s turn to our 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…