It was another great week for the bulls. The market continues to make life difficult for short sellers who have been stubbornly fighting the trend. Markets are in solid uptrends and that will change at some point and then it will make sense to sell short but now is clearly not that time. Going into next week, the market is extended and “seems like” it should pause but until support levels are broken the benefit of doubt still goes to the buyers.Continue reading
There are still some great long setups and many of them have large short positions which may provide additional upside buying pressure. This is the type of analysis which subscribers receive everyday. Know YOUR time frame and “make the trade your own.”Continue reading
Equity markets had another great week but some spirited late day selling served as a reminder that the market is extended and susceptible to some profit taking. Buyers did come back in during the last half hour of the day showing that there is still an appetite for equities and in an uptrend the market is still “innocent until proven guilty.” The trend remains higher but the rate of ascent clearly cannot continue. Next week will start out with an air of caution, our job remains the same, manage risk!!
The video below goes over key levels to focus on next week and also follows up on my CNBC APPEARANCE where I spoke about TSLA and CZR.
Have a good weekend!