Also we get new YTD break even levels on the first of the year so to me that's a fresh start for performance benchmarks. I wrote a post on how I track/use it in the education page if you are interested in that.
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12-28-14 Trade Plan
Looks like this will be the last trade plan of the year, hope everyone had happy holidays to carry into the new year. Markets are still holding up well hanging onto higher highs and lows. It's still not clear which intraday trend is forming but right now it's looking like the 30m. As long as we get the relevant swing points though it doesn't really matter. I'll be watching for higher highs and lows to hold along the 30m trend this week as a benchmark in the Russell and NASDAQ. Russell 2000 is still my favorite index heading into the new year and more Russell correlated stocks are making their way into the watch list.
Also we get new YTD break even levels on the first of the year so to me that's a fresh start for performance benchmarks. I wrote a post on how I track/use it in the education page if you are interested in that.
Also we get new YTD break even levels on the first of the year so to me that's a fresh start for performance benchmarks. I wrote a post on how I track/use it in the education page if you are interested in that.
12-21-14 Trade Plan
Since I last posted the markets have corrected to a key level at $100 on the QQQ, held the level, and now working on a v shape reversal. This isn't surprising to me at all given how far away the previous daily swing point was at (10/15). It gave the bulls a lot of breathing room to put in a higher low and that $100 level was begging to be bought by institutions. Now that they have done it we need to see it hold and continue with an intraday trend. The Russell has quickly become my favorite index on watch after the false breakdown below key support and YTD breakeven into the 50 day and swift bounce breaking above $118, which was already a trigger level I have been watching for weeks. If we get an intraday trend going here above $118 then there is a great probability we have liftoff to new highs.
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12-07-14 Trade Plan
The market continues to uptrend very strongly and stocks continue to be in a good environment. Obviously this kind of straight up action in the indices cannot go on forever but it can go on for longer than most think it can and pretty much already has. If the indices start to loose the momentum they have had the swing points will signal that when the time comes. For now they remain in an uptrend and there is no evidence to the contrary.
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