Hello SpikeTraders,Markets fell lower, breaking down crucial support areas as the Dow closed lower 413-points and the S&P500 closed at 4412, breaking well below 4500 levels. There are a lot of concerns over inflation, oil prices, and the continued Russian invasion of Ukraine, as well as the Fed’s path to rising interest rates. There are being little catalysts to generate demand for long periods. Let’s look at the charts…
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Hello SpikeTraders,This is not the headline I expected to write today. Closely watching and trading the market all day, I saw New Lows exceed New Highs by more than 500 in the one-month window for most of the day. Had the market closed that way, we’d announce that Spike Bounce went on Standby, turning our traffic light yellow. But the New Highs ballooned into the close and NHNL ended the day above its – 500 level, denying us a Spike Bounce signal.Let’s take a look at our charts …
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Hello SpikeTraders,Markets gapped down trading mostly near the lows of the day but edge off their lows as support area is tested. Let’s look at the charts…
Hello SpikeTraders,Markets sold off today with the Dow Jones Industrials falling 280-points and the S&P500 back below 4600 closing at 4525. Remarks from the Fed, saying it would continue tightening monetary policy through a series of interest rate increases again, was the news of the day. Let’s look at the charts…
Hello SpikeTraders,Markets rallied today, closing near the day’s highs as investors/traders now begin to focus on an inverted yield curve. The 2-year/10-year Treasury yield curve remained inverted, which has signaled in the past that a recession may follow in one to two years. One thing is for sure; the markets always have something to worry about, and why markets should not be going up or cannot fall any lower. It is precisely why I prefer to follow price action and not the day’s worries. Let’s look at the charts…
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Hello SpikeTraders,Yesterday I showed you a chart with the highest peak since 2019 of capitalization-based New Highs line. That peak was on Tuesday, on Wednesday the market began to exhale, and it continued today.[ For our new Members: you can look up all previous posts for any section by clicking on the archive link at the bottom of any page. ] Let’s see what today’s charts tell us…
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Hello SpikeTraders,Going on my first airplane flight in two years made this experienced traveler feel a bit rusty on the way out, forgetting how things are done. Coming back served me another reminder – not to trade the first day or two after a transoceanic flight. Not fully focused, a bit of jet lag, I ran up a couple of losing trades. Nothing dramatic, but unpleasant, and a useful reminder for the future: trade only when you are fully focused and certainly not the day after big travel. Refresher received.Now, let’s take a look at our charts…
Hello SpikeTraders,Markets rallied and closed higher again today with the Dow Jones Industrials closing up 338-points, and the S&P500 moved above 4600. Traders cheered on news of positive talks between Russia and Ukraine as oil slipped lower. Let’s look at the charts…
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Hello SpikeTraders,Yesterday I flew back home from Austria, after a much-needed brief vacation, ready to tackle the markets. I kept an eye on them of course and even did a few ‘toy-sized’ trades when I saw opportunities, but now it’s back to serious business.Let’s take a look at our charts…
Spiker’s were slightly negative this week, although we had several nice Spike trades to perform very well. Peter wins GOLD, Dave M gets the Silver and John takes the Bronze! We had several Spike Members earning $20 dollar credits this week.Nihat posted a 24+% gain, Wessel a 9+% winners, Pat L, Tristan M, John M, Stephen A, and Stephen M. Congrats to this week’s winners and we look forward to receiving another exciting list of Spike Picks!This market has seen a wild swing from Yikes another crash to all has been saved and rallied 150 points this month alone. March Madness is upon us.Last two days have seen the markets pulling back and this not a bad thing, we simply need to see this market show an ability to form a higher low and some leadership step up to the plate.Next week should be interesting to see if this market can hold and find some support.