Tape Reading for a Potential Change of MomentumThe market is at a crossroads.Today we’re game planning a potential change of trend in the recent momentum.Two game plans are unfolding.If the SPY ETF trades below 277.14, that turns the weekly price action negative. And it creates a bearish u-turn.My short-term bias would change to look for short sales.If […]
CONTINUE READINGIs it time to book profits?The $2 trillion stimulus fueled recent stock market rally. But now what?Do we honestly believe earnings season will act as added good news?Put on your “real world” cap and think logically.I agree with Jim Cramer. The stock market is NOT the economy.The second half of 2020 looks bearish. I expect continued […]
CONTINUE READINGMonday’s stock market selling didn’t feel right. It was too “weak.”Zero stocks closing at new 20 day lows that fit my criteria. The weekly price action consolidated which means the bullish tone remains valid.Stock futures are higher this morning and the game plan calls for buying stocks today. We perform tape reading on two casino stocks and determine […]
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