Profitable Ideas Each Market Day
LAST UPDATE:12/17/14 04:43 PM ET
Transports played catch-up on Wednesday afternoon after lagging badly all morning in reaction to surprisingly negative FedEx (FDX) earnings. An squeeze in the energy complex put a lid on the sector as well, keeping DJTA below the 50-day EMA for the 2nd session in a row.
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|Price moving against a strong trend rebounds sharply|
How Should You Trade The 7-Bells?
|High volume events print the future direction of price|
|Constricted price gives way to directional movement|
|Gap downs after strong rallies signal a trend change|
|Candles flag reversals in the next smaller time frame|
|Weak markets drop fast after rallying into resistance|
|Breakouts through a triple top signal major uptrends|
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ON THE EDGE
Veteran trader Larry Pesavento points out a powerful tape reading tool called the "opening price principle". Through years of observation, he discov... More
TIPS & TECHNIQUES - Tape Reading
Charts can paint pretty pictures that trigger perfectly wrong signals, but the tape never lies. This goes back to the old admonition to trade what you see, not what you believe. Once you learn how to read the tape, it becomes harder to get fooled by the whipsaws that are tossing other traders around.
Yesterday had us focus on the 2,000 index level and today we're seeing a strong rally (at least initially) up from the 1,980 higher timeframe conflue... More
It looked like turn-around Tuesday when the indices opened lower and then reversed having a big rally, taking the Nasdaq 100 from 4110 all the way up... More
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