Tag: weekly thoughts

Weekly Thoughts

As I mentioned last week, the potential for R2 of the February opex was a likely target and we did test that level and even closed above it. I’m expecting the front-end of this week to be bullish with Tuesday being the best day to sell some call spreads. Tuesday brings retail sales, Wednesday has

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Weekly Thoughts

Super bowl XLV is in the books with Big Ben helping Aaron Rodgers get the Favre monkey off his back…thanks, Ben. If you’ve never been to a super bowl I suggest you put it on your bucket list. I remember my first, a quick trip to New Orleans to watch the Patriots. A young short-haired

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Weekly Thoughts

Is the trend still our friend? Whatever. The short-term trend had a hiccup this past week and quite honestly it felt good. As we enter February, a questionable month for the bulls anyway,I welcome the change from the grind higher. S3 on the weekly price targets for $SPY is in line with the lower trendline

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Weekly Thoughts

As earnings go, this week will be key for clues as to the overall season. So far earnings season hasn’t been that great for the bulls. Two events on the economic calendar this week that I’m watching are the FOMC statement on Wednesday and the advanced GDP on Friday. Both of these reports will give

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Weekly Thoughts

Over the last 12 years, the week of January opex hasn’t fared well for bulls with 2001 being the exception. With the market closed Monday, $AAPL releases news that Steve Jobs is taking a leave of absence for health reasons. Both sentiment and seasonality are screaming for a pullback in equities but judging by the

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Weekly Thoughts

Not really expecting much from Alcoa ($AA) earnings and with slow economic reports the week could start off sluggish. Thursday has $INTC and the PPI followed by the CPI and $JPM on Friday. Don’t forget to check earnings dates. The 60-day channel has been a great guide for the past two months and shows clear

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Weekly Thoughts

2011 is here and with the $ES_F up nearly a percent it looks to be a nice gap up to start the year. I think the most widely watched technical level of the end of 2010 was the break of the 61.8% fib level on the monthly chart for the $SPY. Nice break, no question,

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Weekly Thoughts

Here we are, the last week of 2010. Not expecting much but a low volume grind higher with Tuesday being the best chance for the bulls to make some new highs. For the $SPY the 19th trading day of December is Tuesday which has a good history of being positive. Whether or not that bullishness

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Weekly Thoughts

Sentiment has this market so complacent that it scares me. However, I still believe we take out 1250 and continue to grind higher into the end of the year. I tend to be away from the market for the most part during this time of year but always have a passive finger on the pulse.

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Weekly Thoughts

Things have worked out nicely for me so far in December as I was able to get fully invested in the cycle last week. The $SPY is right up against the 10/07-3/09 fib level for the third test since the 5th of November. I consider this a huge level for the broader market and expect

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