The SPY is continuing sideways and not giving much evidence for which way it will head next. Many large tech names, like Microsoft (MSFT) and Google (GOOGL), are overbought and show signs of flagging or pulling back soon. On the other side, we have the financials and small caps, which got oversold and look like … Read more
As usual, the FOMC brought volatility. This then led to the markets tanking at the end of the day. Can the markets absorb this or is this the next shoe to drop and send the markets lower? Many names have been able to catch bullishness while the indexes went sideways, but that doesn’t mean the … Read more
This Wednesday is the Federal Market Committee (FOMC), and it seems traders are holding their breath and positions to start the week. There were quite a few moves to wrap up last week with options expiration (OPEX). Prices needed to settle down a bit. Federal chairman Jerome Powell is speaking on Wednesday. Will he raise … Read more
A tug-of-war is going on within tech. The sector likes the lower rates, but how long can it stay elevated in the face of the falling energy sector? A falling energy sector tends to signal a recession and a shrinking economy, which can negatively affect tech. Let’s take a look: Keep an eye on energy … Read more
The banking system is under pressure from the rate hikes, but inflation is still sticky. It will be interesting to see where CPI is tomorrow and how the Fed will handle any further rate hikes (or not). The energy sector was very heavy today, but technology bounced back a bit. Let’s take a look: Stay … Read more
In this video I review a few exchange traded funds on the higher time frames. You can see there is a lot of volume coming into them and they don’t seem to want to go much lower. This doesn’t mean they have to go bullish, but we should keep context in mind to balance out … Read more
I was reviewing some historical mutual fund performance and I think we all know this as traders – the market tends to do well after pullbacks and corrections. Well, maybe 2022 was the bear pullback that laid the foundation for a positive 2023. Lets see what this example shows us: Just a quick note, I … Read more
Just a quick note, I presented a “Bull/Bear Market” update in the Simpler Trading Free Trading Room. Be sure to watch the recording of the webinar with lots of material to learn from in this market Today I want to point out VanEck Gold Miners ETF (GDX) and KraneShares CSI China Internet ETF (KWEB). I … Read more
One more day ‘till February is in the books and as long as the market doesn’t implode, it will probably stay over the monthly 10-day moving average (MA). This MA has been a line in the sand for me. The fact that the market is closing over this MA means there is some positivity. Of … Read more
All last week I was guiding the Moxie Indicator™ subscribers into the idea that the SPDR S&P 500 ETF Trust (SPY) was likely to pull back and that the target would probably be the daily 50-day simple moving average (SMA). That target was hit Wednesday, and now we need to see if this area will … Read more