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Trading Homework for Trade-date Thursday September 12th 2019
Almost all the stock indexes are breaking out from their 2-3 day ranges (or didn’t form ranges in the first place). Only the NQ seems to be stubborn right now. EMD and Russell are acting the best as they play catch up. Commentary GC: Had a small bounce from support area – slightly positive.SI: 3…
Trading Homework for Trade-date Wednesday September 11th 2019
Yesterday’s (Tuesday) equity trading seemed like we’re back in the land of flushes up and down while the laggard indexes catch up. Silver and gold still seem weak. Gold hit a minor support level and didn’t care. Silver hit the daily 20 period ema and doesn’t seem to care either. Other metals are also in…
Trading Homework for Trade-date Tuesday September 9th 2019
Another nowhere day for the equity indexes. Seems like they are all forming another interminable range. But, something’s lurking…The FDAX has had an extended run. In the meantime, many of the currencies are at overbought/oversold positions against their primary trend. i.e.: bull and bear flags are developing or have developed. Commentary GC: Pulled back to…
Trading Homework for Trade-date Friday September 6th 2019
In the span of two days it looks like everything went from one extreme to another – from over-sold to over-bought or vice-versa. Even the ones that are not quite at over-sold/over-bought areas are quite close and probably only need another day or two to get there. A few days ago I mentioned that currencies…
Trading Homework for Trade-date Wednesday September 4th 2019
Tuesday was the first full trading day after the Labor Day holiday. Silver, Platinum and Paladium had big moves. But equities just kinda moved around without going too far in either direction – just minor movement inside their broader daily ranges. Currencies, however, are more interesting. Some of them seem to have made a short-term…
Trading Homework For Trade-date Friday August 30th 2019
Going into the end of the month / start of a new month / holiday weekend – the historical bias is to buy stuff. So the equity markets moved to the upper end of their recent range. Can it break out to the upside? Its possible given China’s comments about not adding new tariffs…. Just…
Trading Homework for Trade-date Thursday August 29th 2019
As a hurricane bears down on Florida, large moves in lumber and orange juice were made on Tuesday. Most other markets were mostly tame. Except Platinum – wow, what a move there. Commentary GC: Keep buying pullbacks. SI: Keep buying pullbacks – this is now a momentum market it seems. HG: 5SMA Sale ZB: Upper…
Trading Homework for Trade-date Tuesday August 27th 2019
All equity indicices gapped down on Sunday night into their support areas at the lower end of their daily range and then rallied from there. Given that they are all oversold and just hit the lower end of their ranges, my short term bias is UP. Some of them are already really close to the…
Trading Homework for Trade-date Friday August 23rd 2019
Markets seem to be syncing up a bit again. Gold and silver are starting to show mature bull flags along with bonds, while equities are testing against recent resistance levels. A trade in one is basically a trade in the others – they are highly correlated right now. Commentary GC: The consolidation over the past…
Trading Homework for Trade-date Thursday August 22nd 2019
August type cross-currents. Very little actionable on the daily charts – you’d need to scalp off the hourlies if you insist on trading.
Trading Homework for Trade-date Wednesday August 21st 2019
Some bull and bear flags are finally getting close to maturity. But because many of them have weekly overbought and oversold levels, I don’t expect them to get to new highs or lows once they go. Maybe a retest up/down and then another range. Equities seem to be respecting the resistance levels that formed last…
Trading Homework for Trade-date Tuesday August 20th 2019
A “quiet” day in the markets yesterday (Monday) with all the stock indicies staging a quiet rally towards resistance. On most other days it would be called a volatile day but compared to last week’s fireworks it just felt quiet. I guess it is August after-all… Commentary GC: Pushing down to the lower end of…
Homework
A small sample of notes illustrating how I view potential daily market opportunities over a period of time.
