(There are already 93 likes on the TraderMike facebook fan page! If you haven’t liked this site already, please do and help us get to 100!) A very strong day for the market as the major indices posted their first notable accumulation day since mid July. August lows are now very well established and we [...]
(Tonight I am trying out some charts with colored bars alongside the normal black bars. Which do you prefer? Comments are on so please feel free to share your opinion on which you like better!) After a nice AM gap to the upside, the market quickly ran out of steam and reversed. By midday we [...]
Another fairly uneventful session leaves the market in a peculiar situation. Even though the market was overbought heading into this week, it would have been good to see a push higher towards the key resistance levels mentioned previously (2600 and 1250) before a reversal. If these last two days of mostly horizontal action break into [...]
Market bloodshed was the only way to describe today as the market reacted to the new AA+ debt rating for the US. Days like today prove why trying to catch a falling knife, which in this case is a market crash, is no game for the faint of heart. Cash was king back in July, [...]
(Reminder, this will be the last recap of the week as I will be heading out of town tomorrow.) Massive volume selling throughout the day pushed stocks down even as the Senate passed the debt ceiling bill. The S&P 500‘s close puts the 2011 year in the red overall. Looking ahead, the market is due [...]
