There was a serious lack of action today as the market gave back a bit of last week’s breakout. All of the indices are in what I like to call “no man’s land” — between their 50 and 200-day moving averages. I call it that because the moving averages are giving conflicting signals. […]

The Dow, S&P and Nasdaq each had outside days today although they closed within yesterday’s ranges. Volume increased across the board which isn’t surprising given that today was a quadruple witching day. Still, the charts don’t care about that and I have to look at the volume increase on a down day as […]

Well so much for my easing back on swing trading. As you can see I went on a buying spree today. I was all set to just chill given how dead the market has been, but when my alerts started triggering I just said ‘what the hell?’ and jumped in. By 2:30 […]

Well the NASDAQ fell out of that symmetrical triangle today. But this trippy & tricky market always has a back up plan to keep the masses on their toes. As you can see by the chart below the Naz is sitting just a hair above both the 50 and 200-day moving averages. […]

My outlook on the market hasn’t changed much since Wednesday morning. It’s still slim pickings on good risk/reward setups. I’ve got a whopping 5 longs and 2 shorts on my candidate list for Monday. The indices are still toying with those old downward sloping trendlines I’ve been pointing out. Thursday’s action […]

I don’t really have much new to say about the current juncture in the market. We’re still basically in a holding pattern ahead of tomorrow’s employment report. Today’s sell-off was probably more of a buyer’s strike than anything. I decided to take my car in for servicing this morning (why aren’t mechanics […]

Here’s an example of Guppy’s Multiple Moving Averages (MMAs) in action. Below is the NASDAQ daily chart for the last 12 months. The long term group of MMAs is in orange and the short term group is green. Note how the short term group tends to bounce off of the long term […]

I thought I’d walk through the NASDAQ chart for the last month or so to show you how I came up with my game plan. This chart will look a bit different than the charts I usually post because I’m showing Guppy’s Multiple Moving Averages instead of just showing the 10, 50 and 200-day […]

For a while now I’ve been meaning to explain who I am and how I trade. After reading Dr. Steenbarger’s blog today, I’ve been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I’ll attempt to use similar headings […]