Hey Market Pilots,The last few days have shown that we have to be prepared for anything to happen in 2020. Yes, there are only about 80 more days but with the rollercoaster of the COVID pandemic now reaching President Trump himself, why shouldn’t we expect aliens to visit too? Oh wait, they apparently did. Watching the various reactions of Trump getting COVID and apparently getting through it with relative ease has been an interesting experience in seeing how quickly paths can change. Now that we are past it and the … Read more

Hey Market Pilots, I’m sure most of you are aware by now some major news broke last week: Trump tested positive for COVID. Clearly, this isn’t good news for anyone but his opponents. The market’s reaction was quickly negative but surprisingly contained as price held the overnight support and the Hourly 50 SMA. President Trump’s condition over the weekend has maintained and he even made a quick ride around the hospital for his supporters. Word has it that he may be released Monday, so basically, all news concerning Trump is … Read more

Hey Market Pilots, The Market has been a little challenging as of late and the ability to get chopped up or on the wrong side of it is a real possibility. Even I got caught up in the mess. While it was an uncomfortable position to be in, there were numerous learning opportunities I was able to pass along to my subscribers.So what did I learn?  Admittedly, I did get caught up in the initial bounce off the lows, starting about 9/25/20. But since that event and movement, I then … Read more

Hey Market Pilots, I just went through my list of names on my watchlist as part of my weekly review and it sure looks messy out there. Some names are up, some are down, some are sideways, and most of them look erratic. This is to be expected when the market as a whole is out of a trend and there are many undercurrents.  September is a historically weak month for the markets, and this time we have a big election coming up. I have been warning my subscribers for … Read more

Hey Market Pilots, The markets had a pretty big move to the downside lately. I was prepared for it as far as knowing if the market was going to hold long or fall short. That line in the sand for me was the 15 min 50 SMA. I was hopeful that Tuesday’s bounce would continue via support at the 15 min 50, but that was not in the cards today and if you look at the charts, you can see that the move to the down side really got going … Read more

Hey Market Pilots, There are common patterns in the market which we need to know about in order to make proper decisions and money. This week, I saw a particular type of bottoming pattern form on a few names and the market itself. I’m very familiar with a double bottom pattern and how it advertises that price doesn’t want to go lower. But what about when a double bottom does break lower? Oftentimes that is a perfect short entry, but other times that is the exact washout move that is … Read more

Hey Market Pilots, Once again, the FOMC minutes were the trigger for some market action. I’m writing this Wednesday afternoon and you’ll be reading it on Thursday so the exact outcome of what I write may have to be taken with a grain of salt. Ever since the SPY touch of the Daily 50 SMA on the 11th, I have been cautioning that any bounce or move up of price will be into resistance and we should actually be prepared to retest some lows. This time, the FOMC minutes were … Read more

Hey Market Pilots, Patience and persistence are needed if one is going to be successful in the markets. I am reminded of that when new subscribers come into my service and express concern that they aren’t making money. There can certainly be multiple reasons for the lack of performance in one’s trading account, but as an instructor, I tend to notice these concerns arise when the market gets in a funk. I never want new traders or subscribers to lose money, feel they aren’t being looked after, or feel like … Read more

Hey Market Pilots, Since the market sold off last week going into Labor Day, we are now in a different mode. The market is no longer in a trend, which means clean moves are more difficult to find, and good looking setups may not actually work the way they are supposed to. The market is below some important MA’s which means they could be resistant or at least obstacles for the price when trying to move over them. Now is the time to trade less, smaller, and more nibley.  Yes, … Read more

Hey Market Pilots, Sometimes the market is poetic. Those who have been around the markets for awhile know that a stock split can create a lot of false hype and that the savvy traders use the actual split event as an opportunity to sell their gains to the uninitiated.  We saw exactly this with TSLA and AAPL. Then the market sells off the two days before the long Labor Day weekend holiday. Who would want to hold large long positions in an extremely extended market over an extended weekend? The … Read more